Rising Demand Hit the German Sodium Citrate Prices in October 2022

CFR Hamburg: The sodium citrate market inclined at a moderate rate in October 2022 due to healthy downstream demand and sufficient inventories with domestic market participants. The cost of Sodium Citrate in Germany surged by about 2.06% during October 2022 due to increasing customer inquiries. Also, compared to the previous month, Sodium Citrate prices dropped by 16.67 percent, due to which the local vendors in the European region were left with an adequate number of stocks, owing to which they did not raise further quotations of Sodium Citrate in the first half of October 2022.

Furthermore, towards the mid of October 2022, the traders focused on increasing their stock levels as their inventories started to decline significantly. They also anticipated that the demand might witness on the higher side in forthcoming months. This considerable shortage of Sodium Citrate in the German market was supported by the reduction in imports from exporting countries, primarily China. China’s economic outlook has also lowered due to its week-long holiday and increased COVID-19 cases. Some parts of China are currently in stringent lockdowns, causing a higher risk of further worries in production, operations, logistics, and supply chain activities, which overall supported the market sentiments of Sodium Citrate in Germany.

As a result, the Demand for Sodium Citrate from end-users, such as pharmaceutical industries, and food sectors in the German market, has augmented significantly. Moreover, purchasers seem interested in buying more and more Sodium Citrate due to the surge in current orders in the domestic market, supporting the prices of Sodium Citrate on the higher side.

According to ChemAnalyst, “It is predicted that Sodium Citrate prices will likely incline in forthcoming months in the European region, primarily in Germany. Trading momentum might remain halted with affected manufacturing processes in the domestic and overseas markets”.