For the Quarter Ending September 2022
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.
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.
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
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.
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.
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.