Zirconium Silicate Prices Sustains Uptrend Across European Market
- 15-Jun-2022 3:43 PM
- Journalist: Peter Schmidt
A recent assessment by ChemAnalyst shows the market movement of Zirconium Silicate has been on an uptrend since the start of this year. As per the data, Zirconium Silicate prices have risen marginally across European and Asian markets during the second week of June 2022, owing to ongoing market disturbances and rising fuel costs across the European market.
ChemAnalyst data shows a significant hike of around 4% in Germany by the mid of June, owing to high input costs under the influence of fuming energy costs. As per the latest insights, the PMI index of Germany has been resilient at an elevated value, supporting the price uptrend for several essential and non-essential commodities in the country. Additionally, since the Russia-Ukraine war escalated, the natural gas cost has already been at a high value, which is looming another steep surge due to reduced supplies by Russia via Nord Stream 1 pipeline.
On the other side, other major European countries like Italy and Poland have also witnessed a significant rise of around 1.8% and 1% respectively by the second week of June. As per the market source, price firmness has been bolstered by a consistent rise in input cost amidst improving demand from the domestic market. Further, the effect of high natural gas and crude oil has also been observed for the product across the regional market, uplifting inflationary pressure on consumers and manufacturers as well.
Despite the fact that pandemic-related uncertainties have impacted the market dynamics of China, which is still struggling to recover from the devastation, Zirconium Silicate prices have also risen in the country. The data shows a hike of around 2% entering June, owing to ample demand from the international market while domestic consumption has reduced. However, trade disturbance across the country supported this price uptrend. ChemAnalyst has predicted another surge in the price of most of the silicates across Asia and Europe due to ongoing market volatilities.