For the Quarter Ending December 2022
North America
North American Market displayed consistent dwindling pricing sentiments for Sodium Citrate dihydrate throughout the final Quarter of 2022. With the start of the fourth quarter, market players continue to keep a close eye on numerous factors that have impacted the market of almost all the commodities, including Sodium Citrate Dihydrate throughout the year. Inflation remained very high in October 2022. In order to bring it somewhat down at a normal pace, many market vendors attempted to boost their sales by providing discounts to destock their stored-up inventories. Until the end of December, the price of Sodium Citrate Dihydrate remained weak, backed by a continued decline in the price of its upstream feed, Citric Acid. Prices fell from USD 1240 to USD 1165 MT CFR in Los Angeles in December due to this declining trend.
Asia Pacific
The prices of Sodium Citrate Dihydrate in the Asia Pacific region, primarily in China, demonstrated a significant dip throughout the last Quarter of 2022. This price trend was supported by zero-COVID policies and travel restrictions in almost every part of the Chinese economy. China’s mainly faced challenge was coping with clogged logistics on the main trade lanes to North America and Europe as the exports of all the commodities, including Sodium Citrate Dihydrate, were restricted. Furthermore, decremented upstream feed Citric Acid costs and demand from the Food & Pharmaceutical sectors kept prices on the lower side. At the end of the fourth Quarter of 2022, the price of Sodium Citrate Dihydrate dropped by around USD 800/MT FOB Shanghai.
Europe
The European region witnessed a similar market sentiment for Sodium Citrate Dihydrate as the United States. The prices of Sodium Citrate Dihydrate demonstrated a dip of 3.15 percent in the month of December, with the settlement at USD 1230/MT CFR Hamburg. Despite the fact that trade flows have partially resumed in Germany and the rest of the Eurozone due to some breathing room, this does not indicate a stable set of market fundamentals, as the inventories of Sodium Citrate Dihydrate remained on the higher side within the domestic market. However, the demand for goods and services from the end-user industry remained sluggish for some time, given the current economic challenges. On top of that, the upstream citric acid cost additionally kept the price of Sodium Citrate Dihydrate on the lower side throughout the fourth Quarter.
For the Quarter Ending September 2022
North America
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.
Asia Pacific
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.
Europe
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.
