For the Quarter Ending June 2023
North America
The price trend of Sodium Silicate remained declining trend in the US market during the second quarter of 2023 due to the low trading activities among the enterprises. The low demand was mainly driven by poor performance in the downstream construction industry. High-interest rates, wage cost increases, general inflation, and a major bank crisis in the country impacted the construction market. The merchants continued to work through their existing stocks in the domestic market. Even though output grew in mid of the second quarter, the rate of growth dropped to a hardly noticeable degree. A larger workforce and quick input deliveries were commonly linked to production expansion, which allowed enterprises to catch up on delays in work. The supplier's delivery times improved further and to the greatest extent on record in the US market. Further, the manufacturing managers index remained below threshold points throughout the second quarter, indicating the decline of economic activities in the USA. The cost of Sodium Silicate hovered around USD 1354/MT on a FOB Texas at the end of the Q2 of 2023.
APAC
At the beginning of the second quarter, there was less demand for Sodium Silicate in the construction industry and products, which helped relieve pressure on construction supply chains. The drop in prices was supported by stable exporter inventories combined with less expensive cargo being imported for the Korean market. The poor performance has continued in the construction industry has contributed to the low price of Sodium silicate in the Korean market. The steep fall in Chinese imports that were made for the Korean domestic market in May supported the downward pricing trend. The product's supply was sufficient to meet the market's demands in spite of the fact that demand for it did not increase. On the other hand, Vietnam also followed the same price pattern due to the cheap imported cargo from the overseas market. The Vietnamese economy continued to be affected by unfavorable factors of the world economy in the second quarter of 2023 and the first six months of the year. The factors include the prolonged conflict in Ukraine and a tight monetary policy introduced by major economies that are Vietnam's key trading partners.
Europe
In the second quarter of 2023, the Sodium silicate saw a bearish pattern in the French market due to the poor performance from the downstream construction industry. Due to lower intakes of new work, French constructors reduced purchasing activity during May. The decrease was solid overall and followed by April marginal expansions. French construction companies, as protracted deteriorations in demand continued to ripple across the sector. June saw further reductions in new order inflows and business activity, which in turn led to job shedding as firms adjusted their workforces to match reduced workloads. Concurrently, input purchasing decreased at the fastest pace since the start of 2021. Signs of improving supply chain conditions alleviated some pressure off input prices in the second quarter of 2023 as the overall inflation rate eased in the country. French construction firms were pessimistic about the outlook for the next 12 months. The cost of Sodium Silicate hovered around USD 358/MT on an FD La Pallice at the end of the Q2 of 2023.
For the Quarter Ending March 2023
North America
In the North American market, the price of Sodium Silicate observed declined trend throughout the first quarter of 2023 due to the poor demand from the downstream, paper cement, construction & coating industries. The ample availability in the country, coupled with slow demand from the downstream sectors, curbed the cost of the product. High-interest rates and inflation were the main factors that subdued the demand for the construction industry. Further, the freight charges from overseas markets remained decline trend supporting the Sodium Silicate market in the US. The data shows the consistent falling of Sodium Silicate price hovered around USD 471/MT on a CFR New York.
APAC
The Sodium Silicate market witnessed a consistently inclined pattern in Asia as the traders in Japan, Indonesia, and Vietnam experienced a limited amount of product availability in their markets. After the Lunar Holidays, they also encountered expensive imported cargo from China. The product's worth rose on the global market, nevertheless, as the supply was constrained. The nations that received new orders from the construction industries as well as other important driving sectors, propelled the market for sodium silicate in a positive direction. The cost of Sodium Silicate hovered around USD 478/MT on a CFR Tanjung Priok basis at the end of the quarter.
Europe
The first quarter of 2023 saw a declining trend in the price of sodium silicate commodities in Europe due to a lack of demand around the overseas market. High-interest rates, inflation rates, and geopolitical concerns all contributed to a fall in product demand. The price of the related commodities has increased, and the trade activities of sodium silicate have decreased due to inflation rates. Demand dynamics persisted in their lackluster state and intended a downward trend in pricing for the entire quarter. The cost of Sodium Silicate hovered around USD 389/MT on an FD Pallice (France) basis at the end of the quarter.
For the Quarter Ending December 2022
North America
Sodium Silicate prices saw a downtrend throughout the fourth quarter of 2022 under the influence of low Demand from the domestic and international markets amidst product abundance in the country. As per the data, a decline of around 3.5% in the price of Sodium Silicate has been observed during this quarter in the American market, which was assessed at around USD 520/MT during November on the CFR basis. Market sources revealed that traders were getting cheaper cargoes due to pessimism hovering around the globe related to the recession, especially in USA and Europe. Furthermore, Demand remained lackluster amidst festive holidays, and traders had already procured enough cargo for December.
Asia
Asian market witnessed a declined price movement for several commodities, including Sodium Silicate, during Q4 2022. As per the data, Sodium Silicate prices fell effectively and hovered around USD 359/MT during November on a FOB basis. Ample product availability in the country has affected the pricing dynamics of several commodities, including Sodium Silicate, in the Chinese market during this quarter. Furthermore, traders had adequate supplies for the product to satisfy all the needs of the country as well as of the overseas market. Demand for the product remained moderate, and a marginal improvement in Demand was observed in November in comparison to the previous months. However, ample availability did not let the price of the product show any positive price variation in the country.
Europe
The Sodium Silicate prices declined in the European market during this quarter as the price of feedstock soda ash decreased by around 8.3% in Q4 2022. Due to Lower heating needs and healthy gas reserves in Europe, the Power Purchase Agreement (PPA) market fell by 15% in December 2022. No shortage related to energy was observed during this timeframe. Therefore, prices of several commodities, including Sodium Silicate, declined effectively and remained low throughout the quarter. Additionally, the construction sector showcased a significant fall in activities due to several reasons like recessionary fear and low purchase orders, and the winter season brought up the seasonal lull.
For the Quarter Ending September 2022
North America
Sodium Silicate prices in North America kept on fluctuating throughout the third quarter of 2022. As per the data, the price of Sodium Silicate tumbled initially during July and August due to ample product availability in the country coupled with slow demand from the domestic downstream sector. As per the market sources, demand for the product from the downstream pottery and ceramic industry remained low, which opportune traders to cool down their prices, as it was rising during the previous quarter. The data shows, post witnessing consistent falls for months, Sodium Silicate price hovered around USD 522/MT during August 2022.
Asia
The sodium Silicate price trend showcased a consistent decline during the first two months of the quarter, where traders in Japan and Vietnam did not remain untouched by the declining market movement of Sodium Silicate in the Asian market. The Sodium Silicate prices heard hovering around USD 463/MT in Japan on a CFR basis during August 2022. A similar price fall has also been marked for these countries, while Japan perceived the steepest fall among other major Asian countries during the first week of July 2022. Similar to other major Asian economies, China also witnessed a gloomy market sentiment, where the prices tumbled by around 2% during the first week of July, post witnessing a significant hike during the previous month.
Europe
Under the influence of global demand dullness, commodities prices started tracing a downtrend in the European market, assessed during the third quarter of 2022. However, prices rose effectively during the previous quarter, owing to high input costs and an unprecedented rise in inflationary pressure on consumers. The demand dynamics remained dull in the meantime, projecting a decline in prices for the whole quarter. Additionally, pricing dynamics changed during the final month of the quarter, where sudden price escalation was observed. Sodium Silicate price hovered around USD 366/MT during September in Germany on FOB basis.
For the Quarter Ending June 2022
North America
Sodium Silicate prices in the US market traced an upward trajectory like in other regions. As per the assessment, the Sodium Silicate price remained buoyant during Q2 2022, owing to extreme inflationary pressure on producers. The analysis shows that the producer price index in the USA remained inflated throughout the quarter, supporting an upward price trajectory for several commodities, including Sodium Silicate. US government heard harsh decisions to curb inflation, increasing the risk of stagflation. Thus, despite modest to stable demand from the domestic market, the Sodium Silicate price hovered around USD 390/MT during May 2022.
Asia
During Q2 2022, the Asian Sodium Silicate market remained firm on the back of high demand amidst consistently escalating inflationary pressure on producers. Although China heard battling with a sudden escalation in new pandemic cases, which compelled the government to impose stringent lockdown restrictions on the country, the product price inflated. On the other side, the Indian market remained stable throughout this timeframe, as no pandemic-related uncertainties were found in the country. Therefore, demand fundamentals for the product remained stable across India's domestic market, which supported the upward price trajectory, which eventually settled around USD 418/MT in May 2022 in India.
Europe
In the middle of soaring raw material costs, Germany witnessed the highest inflation rate in May 2022, owing to a consistent rise in energy value. ChemAnalyst data shows that Sodium Silicate's price kept tracing an uptrend during Q2 2022 due to high inflationary pressure amidst stable offtakes from the downstream industries. The data shows that the price of feedstock Silica, which usually remains stable, rose effectively during this quarter and affected the pricing dynamics of downstream silicates in the European and international markets. The data shows Germany's USD 340/MT price during May 2022.
