ChemAnalyst data shows, Zirconium Silicate prices climbed up globally
- 19-May-2022 12:40 PM
- Journalist: Timothy Greene
The latest assessment by ChemAnalyst revealed that the Zirconium Silicate market has started showing further price increments during May 2022. As per the data, global Zirconium Silicate prices have showcased marginal to significant price inclination during this month, owing to inflationary pressure amidst stable offtakes from the downstream industry.
ChemAnalyst data demonstrated a hike of around 2% during April 2022 in China, under the influence of hampered trade activities amidst the ongoing worst hit of the epidemic. China has been under movement restrictions since March when millions of people in major provinces have been facing stringent movement restrictions due to China’s famous zero covid policy. In addition, entering May, another hike of 0.7% has been observed, bolstered by trade disturbance in inflation, while traders have to try maintaining price stability in order to sustain offtakes.
Even though the European market has been facing massive volatility due to the ongoing Russia Ukraine war, marginal increments in prices of Zirconium Silicate were observed in the meantime.
Germany, which was highly affected by the ongoing Russia-Ukraine war situation, showcased a marginal increment of less than 1% during the first two weeks of May. However, as the prices of several commodities have been under huge inflationary pressure, Zirconium Silicate traders have tried to maintain the price stability to sustain offtakes from the niche buyers.
One of the major exporters, Poland has experienced a significant hike of around 1.7% during April, owing to trade disturbance. However, traders heard trying not to raise their product prices in order to sustain offtakes from the neighbouring nations. Nevertheless, rising inflationary pressure was compelling manufacturers to raise their product prices to protect their profitability.
As per the ChemAnalyst, Zirconium Silicate prices are likely to maintain overall buoyancy in forthcoming weeks, as the current market scenarios are not going to change any time soon.