For the Quarter Ending March 2024
North America
In Q1 2024, the Magnesium Sulphate price trend swung in the North American region. At the beginning of the quarter, Asian exporters decreased their quotations due to increased availability of stocks in the market and sluggish demand from buyers during the New Year holidays.
During the mid-quarter, prices declined again due to vigilant buying activities in the international market and moderate consumption as a stabilizer for Calcium Hydrogen Phosphate for food flavoring agents. However, delays in shipping due to attacks on vessels passing through the Red Sea and increased ship traffic impacted the product supply to the regional market.
Towards the end of the quarter, ocean rates continued to decline, negatively affecting product supplies. At the same time, demand improved for bath salt in the beauty and wellness sector for exfoliating purposes and the rise in temperatures in the Northern Hemisphere. Simultaneously, the food sector exhibited a surge in demand for MgSO4 as a coagulant in tofu production in the food sector due to increased consumer orders for the Easter festival. Conclusively, Magnesium Sulphate CFR USGC quotations in the US accessed at USD 444/MT at the end of the first quarter of 2024.
APAC
During the first quarter of 2024, the price trend of Magnesium Sulphate shifted movement in the APAC region. At the beginning of Q1, the demand for Magnesium Sulphate was moderately low for stocking purposes before the Lunar New Year holidays in major producer China due to reduced applications in the horticulture sector. During the mid-quarter, the product demand fell as a stabilizer for Calcium Hydrogen Phosphate for flavouring agents. In the H2 of the quarter, Sure Chemical Co., Ltd. in Shijiazhuang, a leading manufacturer in the region, urged their customers to ramp up their purchase orders to mitigate market fluctuations. Subsequently, consumers followed suit and increased their orders, leading to a rise in product prices. Towards the end of the quarter, the air cargo market experienced increased demand for the third consecutive month in March, driven by e-commerce expansion and shipping disruptions in the Red Sea, impacting air freight rates and product supplies in the international market. At the same time, Magnesium Sulphate demand for bath salt was firm in the beauty and wellness sector for exfoliating purposes after the recent rise in temperatures in the Northern Hemisphere. At the end of the first quarter of 2024, the Magnesium Sulphate CFR Busan in South Korea witnessed USD 95/MT.
Europe
Like the Asian region, Magnesium Sulphate prices in Europe experienced fluctuations in the first quarter of 2024. Initially, demand was low from the fertilizer industries due to reduced applications in the horticulture sector during the peak winter season. Concurrently, production costs of Magnesium Sulphate increased as feedstock Magnesium prices remained firm from Chinese exporters, driven by high semi-coke prices and increased stocking practices before the Lunar New Year holidays. Midway through the quarter, Lufthansa's operations in Germany faced disruptions due to repeated strikes by cargo handlers affiliated with the Verdi Union, leading to low supply rates for international buyers. However, supply availability remained stable in the regional market, and offtakes remained moderately low, prompting suppliers to adjust their quotations negatively to improve sales. Towards the end of the quarter, international prices rose due to increased stocking orders from buyers and higher quotations from major producers in China, reflecting rising production costs. Simultaneously, a shortage of skilled labor resulting from rising racial tensions in the region disrupted production schedules. Despite this, demand for Magnesium Sulphate for bath salt remained strong in the beauty and wellness sector for exfoliating purposes during the Easter holidays following a recent rise in temperatures in the Northern Hemisphere. As a result, Magnesium Sulphate prices surged notably, with Magnesium Sulphate FOB Hamburg in Germany assessed at USD 360/MT.
For the Quarter Ending December 2023
North America
During the fourth quarter of 2023, the Magnesium Sulphate market in North America experienced various factors that impacted prices. Firstly, there was a decrease in demand from the Horticulture and Pharma sectors, leading to a decline in prices. Additionally, the availability of supplies increased, resulting in a bearish market sentiment.
In the USA market, prices for Magnesium Sulphate decreased by 14.5% during the quarter. The export rates were firm from Asia exporters, while inventory levels moderate in the market due to affected supply chain activities amid decline in the water levels of Panama Canal and Mississippi River. At the same time, the cost support for Magnesium Sulphate decreased due to a decline in feedstock Sulphuric Acid prices and cautious buying activities, which reduced the production costs of Magnesium Sulphate.
Meanwhile, the demand for Magnesium Sulphate remained stable from the Horticulture sector, while consumption rates were low in the Pharma sector. Despite these factors, the market forecast showed a potential increase in demand for Epsom salt from the personal care product industry and the price of Magnesium Sulphate CFR USGC in the USA at the end of Q4 2023 hovered at USD 395/MT.
Asia
During the 4th Quarter of 2023, the Magnesium Sulphate market showed a bearish trend in the Asian region, and the prices decreased by 13% compared to the previous quarter. The domestic inventory levels were firm amid low import orders from the importers as the demand depressed from fertilizers amid low consumption rates from the horticulture sector.
Meanwhile, inquiries were moderate for Epsom Salt from the Pharma sector and beauty and wellness industry. At the same time, the upstream cost support declined due to weak consumption rates and excess availability of feedstock Sulphuric Acid amid declined purchases from agrochemical producers.
Simultaneously, the cost support declined from the feedstock Magnesium amid the reduced demand from the downstream industries due to a decline in trading activities amid cautious buying activities from the buyers as buyers did not want to buy materials at high prices. It reduced the production costs in key Magnesium Sulphate producers, i.e. China and India. At the end of the final quarter of 2023, the product quotations Magnesium Sulphate CFR Busan in South Korea witnessed USD 103/MT.
Europe
Like the Asian and North American market, the Magnesium Sulphate price showcased bearish sentiments in Europe during fourth quarter of 2023. The supply levels remained firm due to stable production and consistent supply rates from the European hubs, leading to adequate availability of the product in the regional market. On the demand side, orders were feeble from fertilizer manufacturers due to reduced consumption rates in the Horticulture sector.
Simultaneously, orders remained moderately low for Epsom Salt from the Pharma sector and beauty & wellness industries. The production costs fell noticeably during the mid-quarter as the cost support declined from the feedstock Magnesium in the international market amid the reduced demand and a decline in trading activities amid cautious buying activities from the buyers.
Towards the end of the quarter, the cost support for Magnesium Sulphate was influenced by the decrease in feedstock Sulphuric Acid prices due to the depressed demand from agrochemical industries. The Netherlands saw the maximum changes in prices, with a percentage decline of almost 27% from the previous quarter. The price of Magnesium Sulphate FD Rotterdam in the Netherlands at the end of the quarter was USD 333/MT.
For the Quarter Ending September 2023
North America
The Magnesium Sulphate prices showcased oscillated movement, and prices rose by almost 12% during the Q3 of 2023. At the beginning of the quarter, prices increased due to increased consumption of Magnesium Fertiliser from the Horticulture sector to improve cultivation rates amid the rise in global food inflation and reduced import rates of Russian fertilizers. During the mid-quarter, prices declined marginally amid a reduction in production costs in the exporting region. Meanwhile, the hike in bank interest rates by the Federal Reserve Bank to cool down the rising inflation resulted in a decline in demand from buyers, causing a slowdown in the economic growth of the region. The demand for fertilizers remained moderate in the Horticulture sector. Then, towards the end of Q3, the production rates were limited due to the increased feedstock Magnesium Powder prices amid increased inquiries and stressed availability of supplies. Exporters raised their quotations amid an escalation in demand from regional buyers due to an increase in crop cultivation activities. Meanwhile, demand remained moderate from the Pharma sector during the period. Conclusively, at the end of Q3 of 2023, Magnesium Sulphate prices in the USA witnessed USD 462/MT.
Asia
The Magnesium Sulphate prices showcased mixed sentiments in Asia during t the 3rd quarter of 2023. At the beginning of the quarter, prices rose amid high demand from global buyers amid the rise in global food inflation and the increase in consumption rates in the Horticulture sector. The El Nino effects impacted the rain patterns during the monsoon season. Consequently, demand-supply dynamics remained moderate amid storms and typhoons like Doksuri Saola and heavy rainfall in the region. During the H2 of the quarter, prices surged again as suppliers tightened their supply rates amid moderate production rates due to stressed availability of feedstock Magnesium Powder inquiries. Simultaneously, demand surged from fertilizer manufacturers due to the escalation in procurement activities for the Autumn season application. Simultaneously, stocking activities increased towards the end of Q3 due to before the Golden Week Holidays in key regional exporter China. At the end of Q3, 2023, Magnesium Sulphate discussions in South Korea and Indonesia were USD 119/MT and 130/MT, respectively.
Europe
The Magnesium Sulphate prices shifted movement in Europe during the Q3 of 2023. Initially, prices rose due to reduced import rates of Russian fertilisers and increased consumption from the Horticulture sector to improve cultivation rates amid the rise in global food inflation and dry weather conditions in the region. During the mid-quarter, the price trend remained stable, and prices dropped negligibly amid declined offtakes and procurement activities from the Horticulture sector and increased production rates due to a reduction in feedstock Magnesium Powder prices. However, prices surged towards the end of the quarter due to an increase in feedstock Magnesium Powder prices amid increased inquiries. Simultaneously, the availability inventory levels were inadequate amid a drop in production and supply rates during the regional summer holiday and weak availability of feedstock Magnesium supplies. Conclusively, the Magnesium Sulphate price rose by almost 16% during the quarter. At the end of the quarter, Magnesium Sulphate prices in Italy and Spain hovered at USD 514/MT and USD 484/MT, respectively.
For the Quarter Ending June 2023
North America
The Magnesium Sulphate prices showcased bearish movement in the North American region during the Quarter 2 of 2023. Initially, strengthening the US dollar decreased the import prices of MgSO4. The prices were stable and declined marginally amid moderate offtakes and an increase in labor costs amid shortages of labor due to the rise in recession in the region. Meanwhile, the demand fell during the quarter due to declined offtakes from fertilizer industries amid globally reduced demand for agrochemical products by farmers. It raised the inventory levels, and exporters declined their quotations to improve offtakes from the market. During the mid-quarter, the demand-supply dynamics remained stable, but an increase in the logistics costs provided cost support to the product prices. The decline in the import prices towards the end of the quarter reduced the import costs of Magnesium Sulphate. The exporters increased destocking practices. It raised the domestic inventory levels and contracted the product prices. At the end of the quarter, Magnesium Sulphate prices in the USA witnessed USD 415/MT.
APAC
In the Asian region, the Magnesium Sulphate price trend showcased bearish movement during quarter 2 of 2023. At the beginning of Q2, the demand dampened from the importers due to moderately low offtakes of fertilizers by the regional farmers and adequate availability of supplies in the regional market. The orders for Asian fertilizers were firm in the overseas market during the mid-quarter. Meanwhile, the strengthening of the US Dollar and the weakening of the other currencies impacted the contracted product prices in the international markets. At the same time, the decrease in the upstream Sulphur prices reduced the production costs of MgSO4. Towards the end of Quarter 2, the drop in the Magnesium Sulphate prices was marginal due to the increased buying activities before the Dragon boat festival in the key regional exporter and producer China. Furthermore, the demand remained moderate from the regional Pharma sector during the quarter, and at the end of Q2 2023, Magnesium Sulphate prices in Indonesia settled at USD 130/MT.
Europe
Like the North American market, the Magnesium Sulphate prices contracted in Europe during Q2 of 2023. Initially, the price trend was stable, and prices dropped marginally amid moderate offtakes and declined orders from buyers due to the firm availability of supplies. Simultaneously, sluggish consumption from fertilizer industries and depressed demand for agrochemicals in the agriculture sector negatively impacted the product costs, and producers revised their quotations negatively to improve the offtakes. At the end of the quarter, the decline in the price intensified amid firm availability of supplies from Asia and reduced buying and manufacturing activities in the region. The hike in bank interest rates by the European Central Bank and the Bank of England to curb rising inflation made the buyers conscious while making purchases, and they avoided any unnecessary trading activities. Furthermore, the decline in container freight costs further reduced the import prices of MgSO4. Conclusively, the Magnesium Sulphate prices in the Netherlands and Spain witnessed USD 394/MT and USD 418/MT, respectively, at the end of Q2.
For the Quarter Ending March 2023
North America
In the US market, the prices of Magnesium Sulphate have demonstrated mixed market sentiments. The downshift observed in the manufacturer’s quotations amid weak demand fundamentals has contributed to the price decline of Magnesium Sulphate in the domestic region at the start of the first quarter. The freight charges were also relatively low, and upstream Sulphuric Acid costs were on the lower end. Furthermore, the expensive imports coming from China and Europe have led to an increment in the market value of Magnesium Sulphate. The tight labor markets have further intensified the inflationary pressures in the domestic region, and the Magnesium Sulphate market has operated at upper levels. Thus, Magnesium Sulphate CFR USGC prices were assessed at USD 470 per ton in March.
APAC
A drop in procurement from the downstream agricultural industries has led to bearish market sentiments for Magnesium Sulphate in early Q1. The reduction in upstream Sulphuric Acid costs and overflowing inventories in the domestic region have weakened the market sentiments. Thus, to encourage market shipment and maintenance of market balance, the manufacturers have opted for price adjustments. In addition, after the spring festival holidays, manufacturing activities have been boosted in China. Furthermore, The increment in upstream Magnesium Oxide and Sulphuric Acid costs has been responsible for the upshift observed in the price realizations of Magnesium Sulphate in March. Although the trading atmosphere from downstream agrochemical firms was mild, with tight supplies, the Magnesium Sulphate market has sorted at upper levels. Consequently, Magnesium Sulphate FOB Qingdao prices were settled at USD 123 per ton at Q1-end.
Europe
The prices of Magnesium Sulphate have demonstrated a volatile price trend in the German market. The fall in consumption from the downstream agrochemical industries has prompted the manufacturers to slash their offers to generate sales. In addition, the declining costs of upstream Sulphuric Acid and TTF natural gas costs have also impacted the production costs of Magnesium Sulphate in the European market. Furthermore, in order to sustain their profit margins, the manufacturers have raised their offers. The continued inflationary pressures, tight monetary conditions, and shortage of skilled workforce have led to bullish market sentiments. The ChemAnalyst database has shown that Magnesium Sulphate FOB Hamburg prices were settled at USD 420 per ton at the end of the first quarter.
For the Quarter Ending December 2022
North America
The prices of Magnesium Sulphate have retained their upward momentum throughout the fourth quarter of 2022. The inflow of high-priced goods from the exporting countries has resulted in the market rise of Magnesium Sulphate in the domestic region. In addition, the inflationary pressures have also curbed manufacturing activities in the US market. On the demand side, the inquiries from the downstream fertilizer market were relatively low as the off-season effect was prominent. Furthermore, the prices of natural gas have also remained volatile, and the Federal Reserve's aggressive interest rate increases to tame inflation have weighed on the economy. Magnesium Sulphate CFR USGC prices were observed to have hovered around USD 380 per ton at the end of the fourth quarter of 2022.
APAC
The prices of Magnesium Sulphate first fell and then stabilized in the Chinese domestic market. The strong inflationary pressures and uncertain economic conditions have resulted in a fall in procurement from the European and US market. The exports have also remained at the lower end, leading to a plunge in manufacturers' quotations. On the upstream cost front, Sulphuric Acid costs have consistently dropped throughout the fourth quarter of 2022. Furthermore, the COVID restrictions were imposed in mid-Q4 and pressured the trade activities for major bulk chemicals, including Magnesium Sulphate. However, the supply chain remained unaffected since the factories operated at a regular rate, even though the consumption levels remained subdued amid lockdowns. As a result, Magnesium Sulphate FOB Qingdao prices were settled at USD 123 per ton in December.
Europe
Throughout the fourth quarter of 2022, the prices of Magnesium Sulphate have demonstrated bullish market sentiments. Soaring natural gas and electricity prices have forced the manufacturers to cut production as they were unable to pass on the price hike to the end-use industries. Natural gas is used extensively in the production of downstream fertilizers, and in Europe, operations have become unprofitable due to high prices. As a result, the procurement of Magnesium Sulphate has remained weak. Furthermore, inflation was also at a record high and exceeded 10%, and the purchasing power diminished. The ChemAnalyst database has shown that Magnesium Sulphate FOB Hamburg was assessed at USD 345 per ton at Q4-end.
For the Quarter Ending September 2022
North America
The price offers of Magnesium Sulphate have demonstrated mixed sentiments throughout the third quarter of 2022. The subdued demand from the downstream agriculture sector and the reduction in freight charges have worsened the price dynamics of Magnesium Sulphate in the U.S. market. The upstream Sulphuric Acid prices have consistently dropped till August. As per the market players, the elevated inventory levels backed by the slower-than-expected demand outlook from the downstream agriculture sector impeded the supply-demand fundamentals of Magnesium Sulphate in Q3. In addition, the strong U.S. dollar has pushed traders to procure the product at lessened prices. However, the upstream Sulphuric Acid prices improved in September and provided cost support to the price realizations of Magnesium Sulphate in the market. Prices of Magnesium Sulphate CFR USGC were assessed at USD 335 per tonne at Q3-end.
Asia-Pacific
A significant decrement in new orders from importing countries and plummeting upstream raw material costs have pushed the Magnesium Sulphate prices on a bearish run in the Chinese market. The prices of upstream Sulphuric Acid have constantly declined throughout the third quarter of 2022, easing cost pressure on Magnesium Sulphate. China's trade deficit has elevated, and its export markets have been curtailed due to consistent economic downturns. In September, the domestic manufacturing units in China had to suspend or reduce production to reduce the risks amid the volatility in input material costs and power rationing. The high temperature and power shortages have impacted the production capacities of many chemicals, including Magnesium Sulphate. The Magnesium Sulphate FOB Qingdao prices were concluded at USD 140 per tonne at quarter-end.
Europe
In Germany, the Magnesium Sulphate prices first fell at the start of the third quarter and then significantly escalated till the Q3-end. The energy crisis has led to the closure of many European manufacturing facilities. The war in Ukraine has hampered the input materials shipments for Magnesium Sulphate production in the domestic region. The market players have reported that the reconfiguration of the energy value chain and the overloaded ports with cargo has created an imbalance in the trade outlook. Furthermore, the rapid interest rate increases by the U.S. Federal Reserve to combat inflation have slid the euro's value against the dollar and widened the trade deficit with overseas countries. Therefore, Magnesium Sulphate FOB Hamburg averaged USD 268 per tonne in September.
For the Quarter Ending June 2022
North America
During the second quarter of 2022, the Magnesium Sulphate market has been termed stable amid low inquiries from the downstream agricultural sector. Despite rising upstream Sulphuric Acid and natural gas costs, the prices have remained stable due to stable offtakes from the downstream fertilizer market. During the mid-second quarter, the sowing of major US crops was decelerated by protracted chilly weather and damp circumstances, slumping the Magnesium Sulphate market. Furthermore, the hampered trade activities due to COVID lockdowns in China have substantially pressured the demand outlook and have resulted in stockpiling of the products, decreasing the Magnesium Sulphate price realizations among the traders.
APAC
In the Asia-Pacific region, the Magnesium Sulphate market witnessed mixed sentiments amid fluctuating feedstock prices and uncertainties in terminal demand. From the start of the second quarter, the prices of raw materials Sulphur and Magnesium were bullish due to the strong demand from the overseas players in China. However, the constrained logistics caused by COVID-19 plunged the production costs from the terminal plants. The least active demand from the domestic downstream sectors amid higher inventory levels provoked supply to exceed demand, which, as a result, caused the domestic trade of Magnesium Sulphate to slug. Furthermore, towards the quarter-end, stable offtakes from the fertilizer market have been observed, improving the market sentiments for Magnesium Sulphate in the regional market.
Europe
The Magnesium Sulphate market has oscillated amid fluctuating demand from the downstream agricultural sector in the second quarter of 2022. Stable offtakes from the downstream agricultural sector have infused negative development in the price value chain of Magnesium Sulfate in the domestic region. As a result of the limited purchasing and deterred trading environment, downstream fertilizers have provoked the prices of Magnesium Sulphate to plunge further. In addition, the supply chain disruptions unleashed by Russia's attack on Ukraine have resulted in stockpiling of the product in the domestic market, plummeting the stockholders' quotations and decreasing their inventories. Also, the fluctuating upstream Sulphuric Acid prices have pressurized the manufacturing costs of Magnesium Sulphate.
For the Quarter Ending March 2022
North America
The first quarter of 2022 completed with the soaring market sentiments for the Magnesium Sulphate owing to increased feedstock Sulphuric Acid prices amid the extending hostilities. North America imports Magnesium Sulphate mainly from China. This rise in feedstock prices was mainly backed by the supply disruption and logistical issues, due to the restrictions applied by the Chinese authorities on the import-export activities to curb the spreading of COVID. This restriction caused congestion and port traffic, and higher freight charges. Thus, increased Chinese Magnesium Sulphate costs directly impacted the North American market. As a ripple effect, CFR prices of Magnesium Sulphate settled at USD390 per tonne during Q1 2022.
Asia Pacific
In Asia, Magnesium Sulphate showcased growth owing to the rise in the costs of feedstock Sulphuric Acid amidst the ongoing hostilities between Russia and Ukraine. The Chinese authorities' imposition of a strict COVID related policy in China two-folded the negative impact on the demand for Magnesium Sulphate. Due to this, major ports of China faced congestion issues while onloading and offloading, which created port traffic and soared the commodity prices. Moreover, the increased quotations for raw materials from the end-use fertilizer sector due to seasonal hype material have endowed this soaring. As a ripple effect, Magnesium Sulphate prices of FOB Qingdao (China) settled at USD 243 per tonne during the first quarter of 2022.
Europe
During the first quarter of 2022, Magnesium Sulphate market in Europe witnessed rise primarily due to extended conflict between Eastern European Nations. Also, the rising raw material Sulphur costs backed this lofty market sentiment toward Magnesium Sulphate. This escalating market dynamics of Sulphur levied a direct impact on demand outlook and added cost support on the quotations of European Magnesium Sulphate. Additionally, the imposed sanctions on Russia caused a shortage of vessels and higher freight costs and the reluctance from buyers to accept cargoes from the Russian ports. Prices of Magnesium Sulphate for CFR Rome (Italy) settled at USD 440 per tonne during March-end.
For the Quarter Ending December 2021
North America
In the fourth quarter of 2021, the Magnesium Sulphate market in the North American region remained buoyed throughout the fourth quarter of 2021. This development in the market movement is majorly attributed to the rebound in the offers of Sulphuric Acid which layout adequate cost support in the production of Magnesium Sulphate. Whereas, supply capabilities enhanced after the production rates restored post-hurricane season in the US, and the demand outlook remained buoyed along with ample inquiries from the fertilizers and pharmaceutical sector. As a ripple effect, the offers for Magnesium Sulphate maintained to stagger upwards throughout the fourth quarter of 2021.
Asia Pacific
During the fourth quarter of 2021, the Magnesium Sulphate market witnessed a constant downward trend in the Asia Pacific region. This development in the market sentiments was induced by the easiness in the production margins and curtailments in the prices of freight vessels by 25%. In addition, the curb of the power rationing improved the operational rates in the facilities of the mining chemicals in the Chinese domestic market. Whereas, this development reduced the inquiries for Magnesium Sulphate from the Indian domestic market and narrowed the gap between supply-demand. As a ripple effect, the prices persistently dropped, and the Ex-Depot Mumbai discussions were settled at USD 171 per tonne, during the quarter ending in December.
Europe
The Magnesium Sulphate sentiments in the European market remained strengthened throughout the fourth quarter of 2021. This development is owed to the ongoing energy crisis that prevailed its impact from the last quarter which took a toll on the manufacturing rates in the European domestic market. In addition, the Sulphuric Acid prices rebounded proportionally with the Crude Oil and provided additional cost support. Whereas, some easiness was imposed by the drop in the offers for minerals. However, despite that, the offers for Magnesium Sulphate remained buoyed in the European domestic market.
For the Quarter Ending September 2021
North America
The overall market of Magnesium Sulphate noted an upward trajectory in the 3rd quarter of 2021 across the North American region. Demand from the downstream agriculture industry remained bullish throughout the third quarter. Furthermore, increased consumption of Magnesium Sulphate in the personal care & cosmetics sector led to a spike in its prices during Q3. In terms of supply, it has remained healthy during this quarter while the tightness of raw material sulfuric acid affected the overall production of Magnesium Sulphate.
Asia Pacific
In the Asia Pacific region, the prices of Magnesium Sulphate witnessed a significant rise during Q3 2021 on the back of the increased demand from the downstream industries. In the Indian market, Magnesium Sulphate offers experienced a continuous surge following strong gains in upstream Sulphuric Acid pricing. Ex-location price was last assessed at USD 184 per MT during September. Strong offtakes from the downstream agricultural and pharmaceutical industry further supported the price rise. In China, raw material sulfuric acid stood high, and most smelters complained that power rationing restrictions hampered the local operating rates. Hence, the Chinese Magnesium Sulphate stocks were priced higher.
Europe
The Magnesium Sulphate market demonstrated an upward trend in the European region during the third quarter of 2021. Increase in upstream Sulphuric Acid prices that is widely used in its commercial production led to a surge in the offers of Magnesium Sulphate across the region. In terms of demand, strong offtakes from the agricultural industry were observed in Q3 which further led to a sturdy increment in Magnesium Sulphate prices.
