Global Sodium Citrate Dihydrate Prices Follow Optimistic Trend in February 2023
- 20-Feb-2023 3:38 PM
- Journalist: Francis Stokes
The global Sodium Citrate Dihydrate prices moved towards the north side during mid of Q1-2023 due to strong demand and lower supplies, ease in inflation, raised customer confidence, and declined energy costs.
In the United States, the prices of Sodium Citrate Dihydrate remained in a positive direction during February 2023 also, as market experts consistently concentrated on raising their stocks for downstream Sodium Citrate Dihydrate owing to its shortage. Additionally, exports of its raw material Citric Acid from China to the US were delayed in January because of the Lunar New Year holiday, which impacted the overall supplies within the domestic market of the United States. As a result of affected trade activity, the market players within the region surged the prices of their limited supplies in their domestic market to prevent their loss. Likewise, in Europe also, the prices of Sodium Citrate Dihydrate mimic the trend of January. Ease in inflation and energy cost has positively supported the trade activity as freight charges have reduced significantly, which in turn also supported the upsurged price trend of pharmaceutical excipients, including Sodium Citrate Dehydrate.
Besides this, in China, one of the primary exporters of Sodium Citrate Dehydrate, rising output owing to increased demand among market players helped them to raise their production volume in the manufacturing industry to meet the overall inquiry from global traders. Further, after the end of the Lunar break in China, the orders for Sodium Citrate Dihydrate from the international market have boosted production. Overall, the prices of Sodium Citrate Dihydrate witnessed an inclination of nearly about 1 percent in the mid of the first quarter of 2023.
According to ChemAnalyst: Sodium Citrate Dihydrate prices anticipate a positive trend in the upcoming months as the demand is likely to rise at a moderate rate across the globe. Fresh orders from both international and domestic markets are more likely to keep the market trend of Sodium Citrate Dihydrate on the upper side.