US Dipotassium EDTA Prices Significantly Fall in August 2023 Amidst Oversupply
US Dipotassium EDTA Prices Significantly Fall in August 2023 Amidst Oversupply

US Dipotassium EDTA Prices Significantly Fall in August 2023 Amidst Oversupply

  • 05-Sep-2023 4:18 PM
  • Journalist: Kim Chul Son

In August 2023, the cost of Dipotassium EDTA in the US market saw a reduction, which was influenced by several factors. These factors encompassed an oversupply of the product, advancements in technology, fluctuations in the prices of raw materials, and competitive pricing strategies. What is particularly surprising is that the Dipotassium EDTA market in the United States is anticipated to undergo a significant price decline in the coming months. This unexpected development has drawn significant interest, with many attributing it to the complex global supply chain dynamics, particularly the connections between the US and Indian markets, as the primary catalyst for this price decrease.

Dipotassium EDTA, short for Ethylenediaminetetraacetic acid dipotassium salt, is a chelating agent widely used across various industries, including food, pharmaceuticals, cosmetics, and agriculture. Its versatility stems from its ability to bind to metal ions, making it invaluable for various applications, such as preserving food, stabilizing medications, and enhancing product formulations.

The price of formaldehyde, a key raw material in Dipotassium EDTA production, has decreased in recent months. This has also helped to lower prices. Meanwhile, The Consumer Price Index (CPI) in the United States in August 2023 was 305.69 points, up 0.2% from July 2023. The core CPI, which excludes food and energy prices, was 308.80 points, up 0.2% from July 2023. The Manufacturing PMI in the United States in August 2023 was 47.9, down from 49 in July 2023. A reading below 50 indicates that the manufacturing sector is contracting.

The global market for Dipotassium EDTA is highly interconnected, with several key suppliers spread across the world. India has emerged as a significant player in the production and export of this product, contributing significantly to its global supply. Consequently, any shifts in the Indian market can have ripple effects throughout the global industry. In recent months, India experienced increased production and a relatively stable supply of Dipotassium EDTA. The interconnected nature of the global Dipotassium EDTA market meant that the surplus supply from India directly impacted the US market. American businesses and manufacturers are always on the lookout for cost-effective sourcing options.

As per the analysis conducted by ChemAnalyst, it is anticipated that the prices of Dipotassium EDTA will maintain a relatively steady and lower position in the domestic US market during the third quarter of 2023. This price decline of Dipotassium EDTA can be ascribed to various factors, such as an excess supply, advancements in technology, fluctuations in the costs of raw materials, competitive pricing approaches, and alterations in international trade trends.

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