Copper Sulphate prices surged globally owing to strengthening demand
- 24-Mar-2022 9:49 AM
- Journalist: Henry Locke
The conflict between Russia and Ukraine impacted the global value chain of various commodities, which made the market sentiments volatile even for numerous Bulk Chemicals. Since the beginning of the year, global demand for Copper Sulphate has showcased an upward trajectory amidst the strengthened market sentiments of the key raw materials. Higher demand from the downstream sectors such as agriculture and construction supports the dynamics of Copper Sulphate. The geopolitical tension between Eastern European countries and the dependency of European nations over Russia for exporting raw materials had created pressure on the global supply chain.
Moreover, Copper Sulphate has a stagnant demand in India from the downstream industries. Although, despite the inadequate demand from other sectors, the Indian authorities were keen to ensure the supplies of raw material for the upcoming peak season for Fertilizers. Whereas suspended production of copper smelters because of community protest in Peru resumed. Peruvian producers are trying to address the shortage that occurred due to supply chain disruption.
The resurgence of COVID-19 and strict measures taken by the Chinese authorities to curb the spread, caused logistics disturbance across China. Whereas, during the spring festival holidays the demand outlook observed a significant gain amidst the seasonal peak for fertilizers in China. Despite that, the current market dynamics for Copper Sulphate staggered due to persistent rising prices of sulfur and enforced demand outlook in China.
As per ChemAnalyst, the demand for Copper Sulphate will increase more rapidly since the inquiries from the downstream fertilizers sector amidst the uncertainty raming over the fertilizers shortage and higher food pricing index globally. If the war persists in the upcoming period, it will result in constant inflation on a global scale, and the prices will consistently soar.