North America

The Di Isopropyl Ether price trend shifted in the North American market during the final quarter of the year. Initially, the cost support fell from upstream Acetone in the producing countries amid pessimistic market sentiments from downstream buyers and increased availability of supplies.

 It reduced the production costs of DIPE amid the weak demand for solvent from end-user industries, such as paint and cleaning agent manufacturers, due to reduced procurement activities and lower consumption rates amid contraction in regional manufacturing sector activities, which negatively impacted the prices of Di Isopropyl Ether. Another significant factor that influenced the market was the availability of supplies.

While the production rates remained firm, the supply rates were moderate. In the mid-quarter, the price trend altered amid the decrease in the Panama Canal water levels due to the El Nina effect and dry weather conditions, resulted in a decline in Cargo rates and impacting the product deliveries in the regional market. Simultaneously, logistics companies issued restrictions on shipments through the Mississippi River due to the reduced water levels, which affected product shipping to the domestic market. The product supply rates remained moderate, and prices remained firm till the end of the quarter.

Asia

The Di Isopropyl Ether prices witnessed an overall bearish trend in the Asian region during the conclusive quarter of 2023. At the beginning of Q4, supplies were excessively available in the regional market due to declined exports to the importers. The decrease in demand for paint thinner and stain remover reduced the solvent consumption rates in the downstream industries, and inventory levels rose in the market. During the mid-quarter, feedstock availability improved amid reduced offtakes from Glycol industries and a reduction in the upstream Naphtha and Crude Oil prices after the resumed refinery operations in the North American region. On the contrary, transaction rates and offtakes remained low in the domestic market as orders declined due to the reduced procurement activities and consumption rates of solvent from regional paint manufacturers. Towards the end, prices decreased marginally amid depressed demand from the buyers and the increase in production rates of Isopropyl Alcohol due to increased demand for hand sanitizers in the region, which raised the DIPE production rates, and supplies remained firm in the market. On the other hand, the offtakes were sluggish from cleaning agent and stain remover product manufacturers.

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Europe

Like the North American region, the Di Isopropyl Ether price trend shifted movement in the European region during the fourth quarter of 2023. At the beginning of the quarter, production rates were firm, and the cost support fell from upstream Acetone amid pessimistic demand from downstream buyers and increased availability of supplies. At the same time, the demand for the solvent from end-user industries, such as paint and cleaning agent manufacturers due to reduced procurement activities. The Eurozone Manufacturing Purchasing Manager's Index also dropped throughout the quarter, indicating a contraction in the manufacturing sector activities, and consumption rates remained feeble from downstream industries. In the mid-quarter, the stressed availability of Propylene inventories amid tight supplies from North American exporters amid maintenance activities at Propylene dehydrogenation units impacted the production rates. The demand-supply dynamics remained moderate in the region till the end of the quarter. At the end of the quarter, prices increased negligibly amid weak demand and affected supplies from exporters. The Houthi Rebels in Yemen attacked the vessels in the Red Sea, causing an increase in ship traffic and commercial vessels rerouted to the Cape of Good Hope, which increased the ship traffic, and the availability of supplies remained tight in the region.

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