What causing Potassium Silicate prices to skyrocket globally
- 19-May-2022 3:22 PM
- Journalist: Robert Hume
Houston, USA: A recent assessment by ChemAnalyst reveals the after effect of global inflationary on the Silicate market, where producers have been struggling to maintain price stability amidst stable offtakes from the downstream buyers. As per the recent insights, the global Silicate market has witnessed a steep price escalation during April 2022, owing to a pickup in demand coupled with high inflationary pressure.
Even though volatility in the European market has been higher in comparison to Asia, Potassium Silicate prices have climbed up at a higher pace in Asia than in Europe during April 2022, while projecting a further substantial hike by the mid of May. In China, a huge price increment of around 13% has been observed (ChemAnalyst data shows) during April, bolstered by huge market volatility amidst ongoing epidemic related restrictions in the country.
On the other side, India and South Korea are also roaming on the same boat, where under the influence of hampered supplies, pricing dynamics remained skyrocketing. In a similar timeframe, a hike of around 10% and 15% have been observed in South Korea and India, respectively. These pricing dynamics were primarily supported by the disturbance in trade activities amidst the ongoing crisis across key producing economies.
Mumbai based ChemAnalyst market sources revealed that supply disturbance and the unexpectedly high price of imported cargoes led to a steep rise in prices of several commodities, including Potassium Silicate in India.
The European market has been under pressure from consistently rising raw material prices due to fuming input costs amidst continuous inflationary pressure. In addition, rising fuel cost has made domestic transport more expensive, which has put pressure on procurers. German and Polish traders heard quoting higher prices on recent spot purchases, where ChemAnalyst data shows a hike of around 7% in both countries in the meantime.