Ground Granulated Blast Furnace Slag Prices Rose Sharply in The West, Asian Market Sluggish
- 11-May-2022 5:26 PM
- Journalist: Nicholas Seifield
The global construction sector has been facing disturbance for a long time, owing to hampered trade activities amidst recovering global economic activities. As per the recent analysis by ChemAnalyst, some Asian countries have showcased a significant fall for GGBFS (Ground Granulated Blast Furnace Slag) during the month of April, while some countries like China USA, and Germany witnessed a notable hike in the meantime.
ChemAnalyst’s market sources based in China revealed that, under the influence of disturbing trade activities across the domestic market, GGBFS (Ground Granulated Blast Furnace Slag) prices have risen in the country, where rising raw material costs exacerbated the overall market dynamics. The Chinese economy is highly influenced by hiccups in the construction sector of the country, where despite the fact that the country has been hurt by the worsening epidemic situation, construction raw material prices rose effectively in the local market. As per the ChemAnalyst Analysis, a rise of more than 2% has been observed in April 2022 in China.
Germany and USA have been facing huge market disturbance, influenced by a steep rise in input costs. Since the Russo-Ukrainian war has escalated, Natural gas prices have intensified in the European market, while recently, the USA has started facing the burden of huge demand leading to depleting inventories. Houston-based trader revealed to ChemAnalyst that manufacturers have started passing on inflationary pressure on consumers, which has become a matter of concern for the government. As per the ChemAnalyst data, a rise of around 2% and 4% has been observed in the USA and Germany, respectively, by the end of April 2022.
Contrary to these markets, Indian players have reduced their offers for the domestic market in order to induce offtakes from niche buyers. However, talking with ChemAnalyst, Mumbai based trader, revealed that it is a temporary measure that has been taken to encourage domestic buying activities. Thus, the prices may rise by next month due to high inflationary pressure. Conclusively, a significant fall of around 1.5% to 2% was observed during April in India.