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Barium Chloride Price Trend for the Second Half of 2023
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Barium Chloride Price Trend for the Second Half of 2023

Views: 0     Author: Site Editor     Publish Time: 2023-08-29      Origin: Site

Barium Chloride Price Trend for the Second Half of 2023

The price trends for barium chloride registered a fluctuating pattern in the said period. As the prices of crude oil and gas kept volatile, the availability and price of feedstock barite ore were deeply impacted. Barite ore is extensively utilized in the crude oil industry; with the limited supply being directed to the oil industry, other downstream sectors struggled with their demand fulfilment. HCl prices too struggled owing to the complex logistics, industrial shutdowns, running inventories and falling demand. All the above-mentioned factors directly impacted the price trends for barium chloride.

Q3 2023, remained a very uncertain period for global energy security, especially European region as sanctions prevented any imports from Russia. Asia still got discounted offers from a struggling Russian market, but Europe stayed in plight. The fourth quarter unfolded with freight normalization, but no significant impact on the prices was made as high costs and inflation severely affected the barium chloride market. Thus, barium chloride remained on the higher side of the curve for most parts and plateaued a little towards the end of December’23.

Analyst insight

According to Procurement Resource, the price trends for barium chloride are expected to stabilize in the coming quarter. As the supply chains and logistics normalise given the demand rebounds, the prices are expected to stabilize.

Barium Chloride Price Trend For the First Half of 2023

Barium Chloride is industrially produced via barite and HCl. The prices of these two primary feedstocks directly impacted the price trends of Barium chloride globally. More than 70% of barite ( mineral ore of barium) is directed for consumption by the oil and gas industry. The continuing geopolitical conflict, along with the European embargo on Russian oil and retaliatory sanctions, immensely affected the prices and supplies of crude oil.

The raised production costs among trade bottlenecks raised the prices of barite ore. Meanwhile, the prices of HCl exhibited an oscillating trend in the global market. The prices fell due to the demand destructions and zero-tolerance covid restrictions. However, it soon recovered after the factories renewed production; the demand from the construction and water treatment sectors increased, causing HCl prices to rise. Despite the oscillating trend of its feedstock, the prices of Barium Chloride remained anchored in the global market.

Procurement Resource provides latest prices of Barium Chloride. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.


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