North America

Anisole prices have continued to rise in the US market throughout the fourth quarter of 2023. The latest increase in the prices was majorly attributed to limited material availability within the domestic market. The feedstock Phenol prices have increased which resulted in the high production cost of Anisole, supporting the prices to follow an uptrend in the domestic market. 

Although, on the demand front, the inquiries from the downstream perfume, and dyes as well as from the agrochemical industry have remained tepid amid off-season dullness it was insufficient to drive the price realizations of Anisole at the lower end in the domestic market. Additionally, the macroeconomic headwinds such as high interest rates and persistent inflationary pressure have further eroded the purchasing power of end-users. Although, demand from the Asian market has slightly improved which promoted the manufacturers to revise their export prices. 

In terms of domestic production, the manufacturing firms have remained under pressure as demand from the downstream industry has not fully recovered. The availability of finished stock of Anisole was limited to cater to the overall downstream demand. Furthermore, in December, the U.S. manufacturing sector experienced a continued contraction. This contraction reflects the persistent softness in demand, prompting the manufacturing firms to manage their production outputs accordingly. As per the market sources, manufacturing PMI fell to 47.9 points in December, down from 49.40 in November. In addition, the data from the Federal Reserve has also shown that Manufacturing Production in the United States decreased 0.8% year-on-year in November 2023.

Asia- Pacific

Anisole Prices have experienced a mixed sentiment in the Asian market during the fourth quarter of 2023. During the initial of Q4 2023, Anisole prices have gained an upward pace in the Chinese market on the back of firm cost support and stable procurement in the domestic market. International crude oil prices have increased consistently and consequently, the rise in upstream Phenol prices has culminated in the increased cost support for Anisole in the domestic market. On the demand front, the inquiries from the downstream derivative (agrochemical, dyes, perfume) industry have remained moderate. The market transactions were mainly based on small orders in the domestic market.  However, towards the end of Q4 2023, Anisole prices have plunged in the domestic market. The feedstock Phenol prices have decreased which negatively impacted the production cost of Anisole in the domestic market. These supported the prices to follow a downtrend in the domestic market. In addition, demand for Anisole from the downstream agrochemical, dyes, and perfume industry has remained subdued which led to a price decline in the domestic market. At the same time, demand from the overseas market has also been observed on the lower end since the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at a multi-decade high. As per the sources, exports dropped from 6.4% to $ 274.8 billion indicating a weak global demand for Chinese goods.  Additionally, support measures implemented by Beijing have provided some support for a hopeful recovery. However, lingering challenges such as a prolonged property crisis and subdued global demand continue to pose concerns for policymakers towards the Q4-end. Furthermore, in addition, the destocking season towards the year-end has further prompted the manufacturers to keep the Anisole prices at low levels.

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Europe

The European market witnessed varied trends in Anisole prices throughout the fourth quarter of 2023. In October, there was a substantial increase in Anisole prices in the German market, primarily driven by limited material availability domestically. The surge in feedstock Phenol prices, caused by tight supply, contributed to elevated production costs for Anisole in the domestic market, consequently pushing overall prices upwards. However, in November and December of 2023, Anisole prices experienced a decline in the domestic market. This downturn was attributed to tepid demand from the downstream agrochemical, perfume, and dyes industries influenced by macroeconomic challenges such as persistent inflationary pressure, high-interest rates, and subdued seasonality. These factors collectively exerted downward pressure on Anisole prices across the domestic market. Furthermore, the cost support from feedstock Phenol was limited on Anisole prices as its prices settled on the lower end in the domestic market. In addition, the manufacturing firms have been operating at reduced rates as demand from the downstream industry has not fully recovered in the domestic market. Furthermore, the German manufacturing Purchasing Manager Index remained in the contraction (i.e., below 50) indicating a contraction in industrial and manufacturing activity. Apart from this, manufacturers engaged in destocking activities, clearing out their inventories at reduced prices.

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