For the Quarter Ending September 2022
In the third quarter of 2022, the price value for Sodium Gluconate in the North American market changed due to fluctuating feedstock costs. Prices for Sodium Gluconate began to grow in July before abruptly falling in August and then beginning to rise once again in September. Due to fluctuations in feedstock market prices over the quarter, the market value of sodium gluconate on the domestic market altered. Even though prices rose in July and September, the downstream demand from the paints and varnishes sectors sharply decreased in August. This led to similar outcomes in the market for sodium gluconate emotion.
Due to fluctuating feedstock costs, the price of Sodium Gluconate in the Asia-Pacific region changed in the third quarter of 2022. Prices for Sodium Gluconate began to grow in July, but they then abruptly decreased in August before rising again in September. Because of changes in the price of feedstock during the quarter, the market value of Sodium Gluconate in the domestic market altered. The downstream demand from the paints and varnishes industries decreased sharply in August despite price increases in July and September. As a result, sodium gluconate's market sentiment displayed comparable outcomes. Hence, the assessed price value of Sodium Gluconate was USD 820.71/MT Ex-Mumbai (India) during September.
The price of sodium gluconate in the European region was unsteady in the third quarter of 2022 as a result of shifting feedstock costs. Prices for Sodium Gluconate initially started to increase in July, but they then unexpectedly started to decline in August before starting to increase once more in September. The market value of sodium gluconate in the domestic market changed due to variations in feedstock prices during the quarter. Despite price rises in July and September, the downstream demand from the paints and varnishes sectors fell significantly in August. As a result, the market sentiment for Sodium Gluconate showed similar results.
For the quarter ending June 2022
Sodium Gluconate prices in North America increased throughout the second quarter of 2022 due to the higher feedstock prices. Because of supply problems, the market value of Gluconic Acid as a raw material rose during the quarter, driving upstream costs for the manufacturing of Sodium Gluconate and resulting in a spike in its price. The increasing demand from various downstream industries such as textile dyeing, metal printing, and metal surface water treatment has also increased Sodium Gluconate's price. Rising energy prices, higher freight costs, and backed-up ports owing to the tensions surrounding the Russia-Ukraine war all contributed to an increase in the price of Sodium Gluconate.
During the second quarter of 2022, Sodium Gluconate price value in the Asia-Pacific area revealed conflicting sentiments, supported by shifting feedstock prices. The sodium Gluconate pricing pattern, which was increasing in April, abruptly decreased in May and kept going down until June. Sodium Gluconate's value in the domestic market fluctuated due to the market value of the feedstock Gluconic Acid, which caused the upstream cost to remain unstable throughout the quarter. Additionally, the downstream demand from the textile dyeing, metal printing, and metal surface water treatment sectors, which had been climbing until April, abruptly began falling in May and June, which caused the market attitude toward Sodium Gluconate to move in the same direction.
In contrast to North America, prices for Sodium Gluconate steadily dropped in Europe during the second quarter of 2022. This reduction was mainly caused by weak end-user demand from the textile dyeing, metal printing, and surface water treatment sectors. Due to slow consumer expenditure, the market value of Sodium Gluconate decreased. The prices of Sodium Gluconate in the European market were also absurdly low due to the abundance of excess inventory in the retailers and the constant supply rate. The primary causes of the declining price value of Sodium Gluconate in the domestic market were weak offtake and continuous supply flow.