Sodium Lignosulphonate prices shows a significant hike in the global market
- 23-Mar-2022 5:15 PM
- Journalist: Kim Chul Son
The global construction industry has begun to feel the heat of rising raw material costs, causing concern among the contractors and builders about their future profitability. According to ChemAnalyst data, Sodium Lignosulphonate prices began to rise across the global market in February. Sodium Lignosulphonate prices, on the other hand, have been on the rise in some countries for the past few months, owing to construction activity in their respective domestic markets. According to the data, the US, Saudi Arabia, and China experienced increases of roughly 2.3 percent, 1.7 percent, and 1.8 percent between January-February, respectively. Meanwhile, in India, a considerable drop was seen due to a lack of demand in the face of the abundant stock.
Traders are concerned about future profitability, according to ChemAnalyst's newest evaluation. Rising raw material costs due to a constant increase in crude oil value are making traders anxious. The value of global crude oil has risen as a result of the escalating Russia-Ukraine conflict, impacting global supply chains and jeopardizing convertor margins. Furthermore, four rounds of sanctions implemented by key economies such as the United States, Germany, South Korea, Australia, and Japan have had an impact on the global market attitudes.
As manufacturers battled rising input costs, demand for Sodium Lignosulphonate remained strong across the Middle East and North America. Middle Eastern producers, particularly Saudi Arabia, were often adjusting their offerings in order to maintain their profitability, according to a ChemAnalyst market source. Meanwhile, despite the conclusion of the monsoon season in India, demand has stayed stagnant. Traders, on the other hand, were anticipating a comeback in the downstream construction and pulp sector offtakes in the coming months.
As per ChemAnalyst data, Sodium Lignosulphonate prices are expected to remain firm in the coming months, as seasonal offtakes are anticipated to get started across Asia. Furthermore, soaring input cost is impacting pricing dynamics for the product in the USA and Saudi Arabia, while importing countries like India and China are also battling with the consistently rising freight cost.