Carbon Monoxide Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Carbon Monoxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Carbon Monoxide Price Trend for the Q1 of 2024

After a decline in the previous quarter, the carbon monoxide prices were observed to be wavering slightly upwards during the said period. Even though the price movements were still very confined and limited within narrow boundaries, the supply chain issues provided a consistent positive upward push. Rising geopolitical tensions created a difficult trade situation for the international markets.

Carbon Monoxide Price Chart

Carbon Monoxide Price Trends

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The European region was long engulfed in the Russian war when another armed conflict broke out in the Middle East between Israel and Hamas. This rising unrest created freight disturbances on large scales as piracy issues started emerging in the Red Sea and Indian Ocean. The crude oil prices rose by around 7% during this time in the global market. Following this, the carbon monoxide prices started to escalate during the given time. Overall, positive market sentiments were witnessed in Q1’24.

Analyst Insight

According to Procurement Resource, Carbon Monoxide price trends are expected to behave in a similar manner in the coming months as well. The prices will likely rise further as the crude oil market gains more heat.

Carbon Monoxide Price Trend for October - December of 2023

Carbon monoxide saw an overall dip in the price trend in the fourth quarter of 2023. The primary reason attributed to the slump in the demand and price of carbon monoxide globally was the sluggish demand trajectory from the downstream industries.

For instance, the dwindling price curves for acetic acid and methanol primarily affected the market for carbon monoxide as their production is dependent on carbon monoxide (via the Monsanto process). Similarly, the tottering price curve for the iron and steel industry weighed the global prices for carbon monoxide in the fourth quarter of 2023.

Analyst Insight

According to Procurement Resource, the price trajectory for carbon monoxide is expected to fluctuate on the lower end in 2024. In the latter half, carbon monoxide prices could see a little hike in the downward trend on the back of the downstream sectors.

Carbon Monoxide Price Trend for the July - September of 2023

During Q3’23, the carbon monoxide price trend were in accordance with the demand from the consuming industries, prominently the metallurgical and chemical industries. The carbon monoxide price graph escalated for the majority of the discussed period.

After a period of low upstream cost support, which lasted till the end of the second quarter, the feedstock costs and market demand finally picked up at the beginning of the third quarter. However, the rate of market growth tumbled in the latter half of the quarter. The overall market outlook remained positive, especially in the Asian carbon monoxide markets.

Since the freight issues and other trade hurdles eased, carbon monoxide price trend improved for the European market as well. Although the rising inflation and interest rates kept the prices at bay for the American carbon monoxide market, the general market trend looked affirmative.

Analyst Insight

According to Procurement Resource, Carbon Monoxide prices are likely to fluctuate in the coming months since the current volatile demands will keep a strong influence over CO market trend.

Carbon Monoxide Price Trend for the First Half of 2023

Carbon Monoxide is sourced from petroleum products and crude oil and is heavily dependent on the availability and price fluctuations in the same. Crude oil prices remained fluctuating throughout the said period. Especially for Asia, as both India and China, the major manufacturers in the region, had access to cheap Russian oil. So, the prices here remained dull for Carbon Monoxide as well.

European supplies were hampered the most because of the sanctions on Russian imports. The inclined prices didn’t affect the Carbon Monoxide prices as the European markets were mostly dependent on cheap Asian imports. Hence, the Carbon Monoxide prices exhibited bearish sentiments in Europe.

In US domestic market, the price trend for the Carbon Monoxide market remained dull and plunging as the crude oil prices remained low and the downstream demands from the pharma and chemical industries also remained in a slump. Overall, a global slowdown was observed in the Carbon Monoxide market.

Analyst insight

According to Procurement Resource, the Carbon Monoxide market is expected to strive for stability; however, the crude oil prices do not seem to be picking up anytime soon. It will take some sharp swings in demand dynamics to see improvement in market fundamentals.

Carbon Monoxide Price Trend for Second Half of 2022

The price trend for carbon monoxide is mostly affected by the availability and market condition of its feedstock materials such as hydrocarbons. The price trend in the European region suffered from disruptions in the oil and gas trading activities due to the ongoing conflict between Russia and Ukraine.

The upstream product prices were soaring high globally due to the ripple effects of the war. As Europe is one of the significant consumers of carbon monoxide, the restrictions imposed on Russian products have affected the price trend for carbon monoxide negatively in the region.

However, the significant growth in home improvement industries, high demand from industrial and heating industries, and the high value of coal have pushed the price of carbon monoxide towards a higher side. Thus, the price trend for carbon monoxide inclined owing to the high production cost of energy and restricted imports from the Russian region.

Analyst Insight

According to Procurement Resource, the price trend for Carbon Monoxide are expected to incline in the upcoming quarters. The rising demand from the end-user industries amid the current energy crisis will likely drive carbon monoxide prices.

Carbon Monoxide Price Trend For the First Half of 2022

Carbon monoxide is obtained via the partial combustion of hydrocarbon, mainly from crude oil and natural gas. The oil and gas prices surged globally due to the Russian invasion of Ukraine, causing the upstream costs to rise. Carbon monoxide price trend are heavily influenced by the upstream feedstock costs rather than the demand side.

The demand for carbon monoxide remained strong in the colder regions due to industrial and domestic heating. With the European embargo on Russian oil and western sanctions, the oil prices reached unprecedented levels owing to trade bottlenecks and disrupted supply chains.

Hence, the prices of carbon monoxide remained afloat globally during the first half of the year. However, towards the end of June, the prices began to stabilize due to the relaxation in crude oil and natural gas prices.

Procurement Resource provides latest prices of Carbon Monoxide. 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.

Platform Sample

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Carbon monoxide is an odorless and colorless gas formed by the incomplete combustion of fuels. Carbon monoxide consists of one carbon atom and one oxygen atom connected by a triple bond. There are several environmental and biological sources that generate and emit a significant amount of carbon monoxide.

When people are exposed to CO gas, the CO molecules displace the oxygen in their bodies and lead to poisoning. Since CO has no odor, color, or taste, it cannot be detected by our senses, which means that dangerous concentrations of the gas can build up, and humans have no way to detect the problem until they become ill. It is also one of the major greenhouse gases responsible for climate change.

Product Details

Report Features Details
Product Name Carbon Monoxide
HS CODE 28112940
CAS Number 630-08-0
Industrial Uses Pharmaceuticals, Metal Industry, Chemicals like methanol, Fragrances, Food and Beverages, Electronics
Chemical Formula CO
Synonyms Carbonic oxide, Carbonous oxide, Carbon(II) oxide
Molecular Weight 28.010 g/mol
Supplier Database Air Liquide, Linde Plc., Sipchem, Messer, American Gas Products, Praxair
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Carbon Monoxide Production from Carbon and Oxygen; from Metal Oxides; from Carbon Dioxide; from Steam and Carbon; from Producer Gas

Via Producer Gas: Producer gas is prepared by simultaneously blowing coke or coal with air and steam. In an oven, the air is passed through a coke bed, and the initially produced carbon dioxide reacts with the remaining hot carbon to produce the desired carbon monoxide.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e., government agencies, external trade bodies, and industry publications).

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