Potassium Silicate Price Shows Mixed Market Sentiments in Global
- 15-Jul-2022 5:04 PM
- Journalist: Francis Stokes
The global Silicate market has been improving since this year, and the prices have been uptrend. The latest analysis shows that the Potassium Silicate price has eased in the Asian market while sustaining firmness in the European market during the first week of July 2022.
Prices in major Asian economies like India have showcased the steepest fall of around 12%, assessed during the first week of this month. The major driving factor behind this price fall is excessive product availability amidst slowed offtakes from the downstream consumer goods section. However, raw material prices remained firm throughout the month of June till the first week of July in the country.
In the meantime, despite recovery from the pandemic-related uncertainties in the country, the Chinese market has shown slowed demand for several commodities, including Potassium Silicate. According to the market sources, China is still struggling to reach the pre-pandemic level with its economic activities, as the country's zero covid policy is still a concern for key players. Recently, under the influence of the zero covid policy, millions of people came under the lockdown restriction over just one positive case.
On the other hand, the European market has been devastated since the war started, where prices have risen marginally in a similar timeframe despite low demand from the downstream industries. The data shows a rise of around 3% and 1% in Germany and Poland, respectively, during the first week of July 2022.
As per the ChemAnalyst, prices are likely to decline in the European market owing to slowed economic activities, which has already impacted the other Silicates' costs in the European market. However, natural gas prices are still hovering at a very high value, which may not let the price remain dull for longer.