For the Quarter Ending September 2022
North American Market showcased decremented pricing sentiments for Sodium Citrate during the third Quarter of 2022. The prices decreased due to weaker buying activities witnessed in the domestic market. Furthermore, with the onset of Q3 2022, the prices went down significantly owing to declined upstream Citric Acid values. Towards the mid of Q3, the prices followed the trend of the previous week, which led to stockpiling downstream Sodium Citrate with the domestic merchants. With this declining trend, the prices dropped from USD 2585 to USD 2170 /MT CFR Los Angeles in August. Moreover, with the termination of Q3, the values of Sodium Citrate followed a similar path.
In the APAC region, the prices of Sodium Citrate witnessed a declining trend throughout the third Quarter of 2022. During July, the prices went low due to the weaker downstream demand from end-user enterprises. China being the major exporter to other regions, its manufacturing activity unexpectedly retreated to a declining range in July. Manufacturing businesses, including food additives producers, continue to struggle with a lack of consumer demand which kept the market of a downstream sector on the weaker side. In mid-Q3, the Sodium Citrate prices followed similar market sentiments, and the values demonstrated were assessed at USD 1280/MT FOB Shanghai.
The Price for Sodium Citrate in the European region mimics similar market sentiments as shown in North America in Q3. Decreased consumption in the domestic market, primarily from the pharmaceutical sector, resulted in stockpiled inventories. Furthermore, in the mid-Q3, the lower upstream citric acid prices supported the market sentiments of Sodium Citrate in the domestic and regional markets. Additionally, in the last month of Q3, with weaker demand and higher stocks, the suppliers reduced their prices to maintain their profit margins and destock their inventories. Overall, the prices fell significantly and were recorded at USD 1860 /MT CFR Hamburg in mid-Q3.