In the first two weeks of September 2025, Carbon Black Hard Grade N326 FOB Qingdao was stable, reflecting neutral market conditions. Demand from tire and rubber end-users in the APAC region was steady, especially from India and ASEAN countries - allowing for stable draw volumes. On the supply side of the equation, delivered costs for crude and natural gas feedstocks were mild, while there continued to be signals of global oversupply and growing inventories. Lastly, logistics/operational issues mainly from the port of Qingdao, with over 40 vessels awaiting berth, are turning out to be the leading operational issue regarding shipments rather than raw materials.
Key Highlights
-
Carbon Black FOB Qingdao Nxxx prices remained steady, breaking a xx-week downward trend.
-
Carbon Black Export demand stays robust from India, Malaysia, Thailand, and Vietnam.
-
Congestion at Qingdao port intensified, with approximately xx vessels waiting - there was increased rollover risk.
-
Asia - Europe and intra-Asia freight rates softened; this eased the rapid escalation of the delivery cost.
-
Carbon Black demand for downstream tires in APAC remained strong, throughout TBR and light truck segments.
Demand-Side Analysis
The demand for Carbon Black in the Asia Pacific was steady during the early September period, with India and ASEAN countries serving as the primary drivers for international liftings. Domestic offtake in China was steady to slightly positive, motivated by replacement tire consumption and moderate original equipment manufacturer (OEM) demand. Replacement cycles were the driving force behind strength observed in the sub-segments tied specifically to truck and bus radial (TBR)...
