Global Magnesium Stearate Market Continue its Pessimistic Trend During May 2023

The cost of Magnesium Stearate has gradually decreased across the globe due to a decline in its market demand. Due to increased product stockpiles, manufacturing activity among manufacturers in the APAC region, particularly in the Chinese market, continued to decline this month. The issue of oversupplies in the local market forced the manufacturers of Magnesium Stearate to confront the build-up of new production stock and soaring current stock. There were also limited orders in the market, many manufacturers had passively dropped their pricing due to buying down activities, and downstream consumers and intermediaries were very cautious in their business practices. Additionally, weakened upstream Stearic Acid played a role in the region's dropping pricing trend for Magnesium Stearate. However, even in May 2023, it continued to drop, and as of right now, it has virtually hit the bottom. Besides this, the quotation will also be timely, given the erratic nature of raw material costs. By the middle of the second quarter of 2023, prices for Magnesium Stearate in the Chinese market had regularly decreased by more than 9% as a result.

Similarly to that, during the month of May in the United States, Magnesium Stearate prices dropped by more than 7%. Magnesium Stearate prices decreased in the United States due to weak market sentiment and slowing downstream demand. Additionally, the market emotions for Magnesium Stearate were negatively impacted by the weak upstream Stearic Acid pricing.

As per the ChemAnalyst prediction, "The price of Magnesium Stearate will continue to decline in the upcoming months as a result of the anticipated decline in the downstream market. Prices will be supported by the product's greater availability in the local market and the relatively few inquiries. Magnesium Stearate market sentiments are predicted to be negative as a result of oversupplies from China entering the US market."