Sodium Sulphate Prices Witness a Bullish Market Trend in the Asia-Pacific region
- 18-Jul-2022 5:53 PM
- Journalist: Bob Duffler
In the Asia-Pacific region, the spot offers of Sodium Sulphate have remained buoyant amid solid market fundamentals. The active demand from the downstream detergent sector and pulp and paper industries and unprecedented inflation in raw material costs, coupled, levied their impact on the benchmark prices of Sodium Sulphate in the domestic region.
As per the latest data, the price trends of Sodium Sulphate have surged by approximately 2% in the last month in India. The ongoing hostilities between European nations have severely impacted the supply chains across the countries, driving the raw material costs to surge further in the domestic market. However, to gain some profit margins, the top FMCG players such as Hindustan Unilever Ltd. and ITC have revised their quotations by more than 5% to combat the global uncertainties and acute labor and raw material shortages. As a result of escalating demand fundamentals and uncertainties in the feedstock market, bullish market sentiments have been observed in recent terms.
On the other hand, in China, the declining upstream Sulphuric Acid prices have provoked negative cost pressure on the price dynamics of Sodium Sulphate in the region. The upstream Sulphuric acid prices have dropped by nearly 5%, as observed on 18th July, compared to last week's prices. As per the observed market scenario, some manufacturers have reduced their quotations for upstream Sulphuric Acid to stimulate shipments, weakening the domestic market sentiments. However, the rising demand from downstream detergent and pulp and paper industries has strengthened the spot offers and accelerated the market growth of Sodium Sulphate in the regional area. The ChemAnalyst database shows that in June, the price realizations for Sodium Sulphate demonstrated a surge of nearly 2% from the previous month's prices.
As per ChemAnalyst, the pricing trend of Sodium Sulphate may witness a bullish trend amid active demand from downstream detergents and several other key industries. However, the fluctuating energy and raw material costs will likely pressurize the regional market of Sodium Sulphate in the forthcoming weeks.