Sodium Citrate Price Magnifies In China During July
- 25-Jul-2022 6:05 PM
- Journalist: Nina Jiang
Shanghai, China: The market of Sodium Citrate recorded an upward pricing momentum with surging downstream demand in the domestic market of China this week. The sturdy upstream feed availability and continual inquiry from downstream industries supported the Sodium Citrate market, further exaggerating.
In China, the price trend for Sodium citrate has shown an increment state of 1.60% in July 2022. China dominates the global Sodium Citrate market for its production and exporting activity, followed by Spain and Germany. China's trade activities have recently boomed after a sharp slowdown in the second quarter amid widespread COVID pandemic restrictions causing weak manufacturing activity with higher consumption for end-product from the Pharmaceutical industry, offsetting the trade imbalance.
Additionally, Manufacturing activity in various European countries dropped amidst the war tension between Russia and Ukraine. The traders focused on the Asian suppliers to follow the surging downstream demand from end-user industries. As a result, the active inquiries from the European region for downstream Sodium Citrate bullish the market sentiment in the regional market of China.
However, continuous upstream Citric acid demand for the production of Sodium citrate, along with its primary application of usage in medicines as an alkalinizing agent and cosmetic industries as a buffering agent, augmented its continual consumption leading cost to spike. Also, rising customer demand from the domestic market affects its availability, causing its shortage with the manufacturers and pressuring them to enhance their production rate to meet the demand side.
Chemanalyst, "the pricing sentiments for Sodium citrate might witness a continuously upsurged momentum with surging demand. The lockdown condition might halt the trading activities and production rate, which will likely prompt the cost of Sodium citrate further in regional and domestic markets. Also, increased Sodium citrate demand from various medical and pharmaceutical industries is likely to augment its market growth in forthcoming months".