Iron Oxide Prices

Iron Oxide Prices June 2024

During the second quarter of 2024, the iron oxide prices in the United States reached 1268 USD/MT in June. There was considerable volatility in pricing witnessed throughout the country, with a negative trend being exhibited for the most part of this quarter. Key drivers for this fall were slow demand from leading consuming sectors and a slump in production. The market also reacted to seasonal factors, with construction expenditure showing a much deeper than expected fall.

In the second quarter of 2024, iron oxide prices in Indonesia reached 1027 USD/MT in June. Sentiment was clearly negative in this quarter, and the market went through tough times. Continuous oversupply and high levels of inventory drove down prices and prevented further growth in the market. The main downstream industries were slow in demand growth, like coatings, paints, and constructions. Construction industry recovery was quite weak. The manufacturing industry also showed a significant decline in output.

During the second quarter of 2024, iron oxide pricing in Germany reached 965 USD/MT in June. There were significant variations in market prices influenced by the high stock levels set against the low demand environment. There were significant disturbances in the supply chain characterized by heavy rains and flooding, which caused interruptions, more so on the river Rhine. However, these climatic challenges remained too insignificant to challenge the persisting depressed demand from the market.

In Q2 2024, iron oxide prices in Brazil reached 1134 USD/MT in June. This quarter witnessed major price fluctuations. The major causes of this decline were a decline in manufacturing activity and low consumption in major industries. The unexpectedly sharp fall in construction expenditure continued to drive this trend, led by the increase in mortgage rates that pulled down investment for construction projects.

Iron Oxide Prices December 2023

During Q4 2023, the iron oxide prices in the United States reached 1676 USD/MT. The regional demand for iron oxide was sluggish, especially in the construction sector. These factors increased the prices of iron oxide in the country.

In China, the prices of iron oxide declined in Q4 2023, reaching 1245 USD/MT. The market saw a slump in consumption from the coatings and paints sector during the latter part of 2023, contributing to lowered prices despite a generally abundant supply. A minor recovery in demand was noted towards the end of the quarter, impacting pricing trends slightly.

In Germany, iron oxide prices were adjusted upwards in response to a mix of low local demand and challenging economic conditions. The tight supply situation and modest demand improvements in the local market influenced the market dynamics significantly. By the quarter-end, the iron oxide  prices settled at 1274 USD/MT.

Regional Coverage

The report provides a detailed analysis of the iron oxide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the iron oxide price trend.

Global Iron Oxide Price

The report offers a holistic view of the global iron oxide pricing trends in the form of iron oxide price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into iron oxide historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into iron oxide price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed iron oxide demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Iron Oxide Price

Q2 2024:

Prices for iron oxide in Europe continued to fall in the second quarter of 2024, mostly due to weak demand from industries like paints, construction, and coatings. A lackluster home market and excessive finance costs were among the economic obstacles that prevented manufacturers from raising prices even in the face of pressure on production costs. Stronger demand and high inventory levels meant that prices fluctuated significantly, especially in Germany. Unfavorable meteorological occurrences, such as the Rhine River floods, caused disturbances to supply networks, however, they were unable to counteract the general decline in the market, which kept prices falling.

Q1 2024:

The market faced price volatility in Q1 2024, particularly in Germany. Weak demand from industries such as coating, paints, and construction  led to a bearish market outlook. With decreased building activity, the construction sector in Germany faced challenges, further lowering demand for iron oxide. Additionally, geopolitical concerns in the Middle East and supply chain disruptions worsened conditions. Despite an initial price drop early in the period, there were signs of stabilization by March, showing minor recovery, overall, prices still remained lower compared to previous quarters due to weak market sentiment.

Q4 2023:

The European market saw prices climb throughout the fourth quarter of 2023, primarily due to an ongoing product shortage that severely limited supply. This scarcity was exacerbated by subdued demand both locally and overseas, with manufacturers in Germany notably adjusting their pricing strategies to cope with tight margins. Although the construction sector's decline dampened overall demand, a minor uptick in local demand necessitated restocking, further straining the limited supplies. The market dynamics during Q4 were shaped significantly by these supply constraints and modest demand increases.

This analysis can be extended to include detailed iron oxide price information for a comprehensive list of countries.

North America Iron Oxide Price

Q2 2024:

In the second quarter of 2024, the market suffered a substantial reduction in pricing, mostly caused by sluggish demand from important sectors including paints and coatings. Rising interest rates combined with economic downturns further reduced demand for produced goods and building projects. The downward pressure was exacerbated by lower import costs from Asia and Europe and by an ample supply of goods within the region. Although supply chain hiccups, such as difficulties at Baltimore’s harbor, prompted concerns, they did not adversely damage the overall market. Prices kept falling, indicating that the industry was going through a difficult time.

Q1 2024:

Early in 2024, there were mixed price trends in the North American iron oxide market, largely due to overstock and declining demand. Due to the harsh winter, the United States was especially hard hit, with low demand in important industries including coatings, automotive, and construction. This caused prices to decline in conjunction with high inventory levels. Global supply chain troubles, particularly in the Panama Canal and Red Sea, led to port hoarding and increased stress. Furthermore, the accessibility of less expensive imported materials exacerbated market pessimism, which kept prices low throughout the quarter.

Q4 2023:

In the final months of 2023, the North American market maintained a stable supply-demand equilibrium, with sufficient product quantities to meet regional needs. Despite stable demand, consumption remained at moderate levels due to a lackluster local market. The situation was compounded by high-cost imports from Brazil and Europe, pushing up prices. These imports became pricier in Europe due to scarcity, directly impacting local prices. In the construction sector, specifically in the United States, demand continued to be subdued, further influencing the observed price hikes throughout North America during this period.

Specific iron oxide historical data within the United States and Canada can also be provided.

Middle East and Africa Iron Oxide Price

The report explores the iron oxide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on iron oxide prices for countries can also be provided.

Asia Pacific Iron Oxide Price

Q2 2024:

During Q2 2024, the market faced significant pricing declines, largely driven by weak demand from end use sectors like construction, paints, and coatings. Oversupply issues and high inventory levels exacerbated the downturn, with manufacturing activity remaining subdued. Seasonal expectations of increased construction demand did not materialize, further stifling market recovery. Lingering economic strain, especially from property industry challenges, and less export orders also contributed to the persistent pricing decline. The overall market sentiment remained bearish, reflecting an ongoing struggle to rebound in the region.

Q1 2024:

Changes in the Chinese market drove a variety of developments in the iron oxide market in the Asia-Pacific area in the first quarter of 2024. Sluggish demand for paints and building supplies, as well as an abundance of low-cost imported components, were all contributing factors to price reductions. The market's attitude received some assistance from initiatives to revitalize the real estate industry. However, demand was impacted by seasonal variables, in Indonesia and India, such as the Lunar New Year and winter. At the conclusion of the quarter, the market did show some resiliency, overall, sluggish downstream demand kept prices pressured.

Q4 2023:

In Q4 2023, the market in Asia Pacific was marked by abundant supply, which led to aggressive pricing. However, consumption in key end use sectors like automotive and construction was weak, influenced by unfavorable weather conditions and economic downturn. Specifically, in China there was a noticeable drop in orders within the coatings and paints industry, which depressed prices. Towards the end of the year, slight improvements in demand and seasonal sales activities caused prices to rise marginally as firms engaged in year-end destocking.

This iron oxide price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Iron Oxide Price

Q2 2024:

Q2 2024 witnessed a consistent decrease in pricing in the market, primarily due to a reduction in demand from end use industries such as construction, paints, and coatings. Expenditure on manufacturing and building projects was further restrained by economic downturns and higher interest rates. The declining pricing trend was partly caused by a decline in demand from North America and an abundance of supply in the region. Due to significant price reductions brought about by decreased building investments and poorer industrial activity, Brazil in particular saw a difficult quarter.

Q1 2024:

The market witnessed changes in pricing during Q1 2024, with Brazil being one of the most affected countries. Low demand, economical imports, and ample inventories led to falling prices. Key sectors witnessed a decline in activity, especially in the winter: construction and automotive. Disruptions to the worldwide transport supply chain led to higher stock levels, which in turn affected pricing. Due to unfavorable weather and the accessibility of less expensive imported products, there was less demand in Brazil in January and February, which caused prices to decline before stabilizing by March.

Q4 2023:

In Latin America, the market in the latter part of 2023 was characterized by supply-demand balance, maintaining consistent inventory levels. Although the market experienced stability, prices edged higher towards the quarter-end due to supply pressures stemming from a pronounced price increase in Europe, which led to a reliance on more costly Brazilian imports. As a result, regional buys experienced delays in deliveries from Brazil, resulting in a major increase in price as the quarter concluded, especially with the heightened demand from the United States market.

This comprehensive review can be extended to include specific countries within the region.

Iron Oxide Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Iron Oxide Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of iron oxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of iron oxide at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of iron oxide price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing iron oxide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Iron Oxide Market Analysis

The global iron oxide industry size reached US$ 2.6 Billion in 2023​. By 2032, IMARC Group expects the market to reach US$ 3.9 Billion, at a projected CAGR of 4.60% during 2023-2032​.

• Iron oxide is gaining traction in the paint and coating industry due to its lightfastness, ease of use, and durability. The expansion of the iron oxide market is also attributed to the growing demand for coatings in the aerospace, marine, and automotive industries around the world.
• The iron oxide demand is amplified by its crucial role in the cosmetics industry as colorants for blush, lipstick, foundation, and eye shadow.
• According to IMARC Group’s report, the global buildings construction market is expected to exhibit a growth rate (CAGR) of 5.13% during 2024-2032. The thriving construction industry worldwide is catalyzing the demand for iron oxide, as iron oxide pigments are used to color concrete blocks, tiles, and pavers.
• The development of the eco-friendly variants of iron oxide pigments by key players on account of rising environmental concerns and stringent regulations imposed by governing bodies of several countries about the usage of synthetic pigments is positively influencing the market.
• The iron oxide market is further reinforced by technological advancements in the production technology of iron oxide to improve its purity level, color consistency, and particle size.
• Iron oxide pigments are also contributing to modern applications like photoelectrochemical cells and magnetic data storage, thereby opening several opportunities for key players operating in the market.
• The World Health Organization’s (WHO) report 2023, over 2 billion people lived in water-stressed countries in 2021 while at least 1.7 billion people consumed contaminated water in 2022. Iron oxide nanoparticles are utilized to remove heavy metals and other contaminants from the water.
• The iron oxide market is experiencing an upward trajectory owing to the employment of iron oxide in the agriculture industry to reduce iron deficiencies in plants.
• The demand for iron oxide is also expanding, as iron oxide nanoparticles find applications in drug delivery systems, hyperthermia treatment for cancer, and magnetic resonance imaging (MRI) contrast agents.

Iron Oxide News

The report covers the latest developments, updates, and trends impacting the global iron oxide industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in iron oxide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the iron oxide price trend.

Latest developments in the iron oxide industry:

• January 2024: LANXESS, a German chemical company, and IBU-tec have initiated a research collaboration to develop innovative iron oxides for lithium iron phosphate (LFP) battery cathodes, aiming to enhance performance metrics like energy density and charging speed. This partnership seeks to establish a sustainable European value chain for LFP batteries, which are increasingly favored by car manufacturers due to their cost-effectiveness and safety.
• May 2024: Kuncai Material Technologies launched a new plant in Fuqing, China, to produce titanium dioxide and iron oxide using an innovative extraction process. This method, patented by Kuncai, promises superior product quality compared to traditional sulfate and chloride processes, emphasizing sustainability by reusing materials in closed-loop systems and utilizing a photovoltaic energy supply. The company aims to expand its product portfolio for various applications, including plastics and coatings, and has established Kuncai Pigments Europe in Germany for distribution in the European market.

Product Description

Iron oxide, composed of iron and oxygen, can be naturally found, or chemically synthesized in laboratories for various industrial applications. It plays a crucial role in manufacturing iron oxide pigments, which are essential precursors in the automotive, marine, paint and coating, and pharmaceutical industries.

It is a valuable raw material in electronic and data storage applications, as it exhibits magnetic properties. It is also used to form non-toxic colorants for lipstick, blush, eye shadow, and foundation in the cosmetics industry.

Iron oxide is characterized by non-toxicity and natural occurrence, thereby positively affecting the environment. Its utilization in the water treatment processes to remove heavy materials from the drinking water highlights the versatility of iron oxide. Besides this, iron oxide is employed to impart color in various paper products, such as diaries, books, and packaging materials.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of iron oxide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting iron oxide price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The iron oxide price charts ensure our clients remain at the forefront of the industry.