Economic Slowdown Leading to a Fall in Prices of Zirconium Silicate Globally
- 13-Jul-2022 4:07 PM
- Journalist: Li Hua
Changing global market dynamics have been affecting the prices of several commodities worldwide, including Zirconium Silicate. As per the latest trend analysis, Zirconium Silicate prices have showcased marginal ease for the global market.
Zirconium Silicate prices have tumbled in the global market, including Germany, Spain, China, Poland, and Italy, during the first week of July 2022. The latest assessment shows that the looming threat of global recession and economic slowdown has affected global market sentiments, leading to a marginal price fall.
Data shows a fall of around 2% to 2.5% is observed in major European economies like Poland, Germany, and Italy, assessed during the first week of July 2022. The prime factor behind this price drop was lackluster demand and wavering optimism from the regional market instead of the slowed ceramics industry. The natural gas prices in Europe are still hovering at a high-value post-supply squeeze by Russia. However, the prices remained around 30% lower than the previous record high.
On the other side, China and Spain also witnessed a similar market sentiment during this month, owing to slowed construction activities in the country. Despite recovery from the pandemic-related uncertainties, China is struggling to regain economic momentum, as the recent devastation caused by the zero covid policy has slowed downs the economic activities of the country. However, these economic activities will likely take time to recover or attain a pre-pandemic level as the global market is approaching a global recession.
According to the ChemAnalyst analysis, countries are making harsh decisions to protect the country from further devastation of the pandemic and lower inflation, which have started impacting their economic growth. Thus, a global slowdown has been observed, which will take time to recover completely.