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Improving New Order Backs Italian Zirconium Silicate Price Surge in November 2023
Improving New Order Backs Italian Zirconium Silicate Price Surge in November 2023

Improving New Order Backs Italian Zirconium Silicate Price Surge in November 2023

  • 18-Dec-2023 5:11 PM
  • Journalist: Jacob Kutchner

The price of Zirconium Silicate displayed an upward trend in November 2023 following a decline in the month of October 2023. Merchants in the Italian market received more orders from the downstream construction material manufacturing industry during November. The Italian manufacturers responded for the new orders for Zirconium Silicate and slightly increased the cost of the product to maintain the profit level during this month. Further downstream activity increased with both the housing and commercial categories signalling accelerated growth for Zirconium Silicate. The civil engineering category was the sole sector to experience a decline, contracting moderately after two consecutive months of improvement. In response to the uptick in new orders, constructors in Italy expanded their workforce numbers in November. While the job growth was moderate, it marked the most pronounced increase in six months. After a sustained pattern of decline over the past several months, the price of Zirconium Silicate experienced a noteworthy appreciation of 2% on a FOB Genoa basis.

In November, Italian manufacturers responded to the heightened levels of new orders by increasing their purchasing activity for Zirconium Silicate. Despite the fact that orders experienced a faster rate of increase during the month, there was a noticeable deceleration in the pace of growth in input purchasing compared to October. In other words, while the demand for construction services surged, the rate at which constructors were acquiring the necessary inputs for their projects showed a moderation in comparison to the previous month. Moreover, in November 2023, the Manufacturing Purchasing Manager's Index (PMI) experienced an increase compared to the preceding month. This uptick was attributed to ongoing government initiatives, including the Super Bonus and the Recovery and Resilience Plan, along with a notable rise in the number of orders. These factors collectively contributed to the heightened consumption of Zirconium Silicate within the industry, showcasing an improved pricing trend.

In November, as input buying increased in the construction sector, there was a notable growth in capacity pressure at suppliers. Construction companies reported extended waiting times to receive inputs during this period. Despite these challenges, companies throughout the Italian construction sector, on balance, expressed confidence in the expectation of rising output over the coming 12 months.

Anticipations indicate a probable rise in the price of Zirconium Silicate in the coming year, driven by heightened optimism within the Italian construction sectors. As merchants stand to receive new orders, there exists an opportunity for an increased demand for Zirconium Silicate in the domestic market. Additionally, there is a likelihood of improvement in purchasing activities to replenish Zirconium Silicate stocks, meeting the demand from both domestic and overseas markets.

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