SunSirs: The Price of Sodium Metabisulfite Was Slightly Weaker This week (April 17-21)
April 25 2023 11:24:01 SunSirs (John)
Analysis review
According to the Commodity Market Analysis System of SunSirs, the price of domestic sodium metabisulfite decreased slightly this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2,366.67 RMB/ton, and the average price at the weekend was 2,350.00 RMB/ton, with a slight decrease of 0.70% during the week.
Market outlook
The domestic sodium metabisulfite market performed commonly this week. Some enterprises lowered the market price slightly, driving the overall price of domestic sodium metabisulfite market to decline slightly. The market price of industrial sodium metabisulfite this week ranged from 2,300-2,500 RMB/ton, and most prices were concentrated around 2,300-2,400 RMB/ton. The inventory of the enterprise was about 30%, and the enterprise mainly completed orders from old customers.
As of April 21, the price of domestic soda ash had dropped by 2.9%, and the price of sulfur had dropped by 22.81%. The continuous weakness of upstream raw material price will further suppress the future market price of sodium metabisulfite.
Market outlook
Analysts from SunSirs believe that the cost of raw materials continued to decline, the overall purchase and sales of downstream were cautious. Under the suppression of many bad news, the domestic market price of sodium metabisulfite still has some room to fall in the short term.
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