SunSirs: The Price of Sodium Metabisulfite Was Weak and Downward (May 1-5)
May 08 2023 13:43:16 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the overall price of domestic sodium metabisulfite was weak and downward this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2,350.00 RMB/ton, and the average price at the weekend was 2,283.33 RMB/ton, with a decrease of 2.84% during the week.
Analysis review
In April, the price of domestic soda ash dropped by 3.99%, and the price of sulfur dropped largely by 32.5%. Pressed by the sharp decline in raw material costs, in May, domestic sodium metabisulfite manufacturers successively lowered the ex factory price of sodium metabisulfite, driving down the weak price of domestic sodium metabisulfite market this week. This week, the overall price of sodium pyrosulfite was in the range of 2,200-2,500 RMB/ton, with most prices around 2,200-2,300 RMB/ton. Downstream trading entities had a strong wait-and-see attitude, and enterprises mainly completed orders from old customers.
As of May 5, the price of domestic soda ash continued to be weak, falling 1.51% within the week, and the price of sulfur rebounded from the bottom, rising 6.02% within the week. In general, the cost of upstream raw materials of sodium metabisulfite was still at a low position, which will suppress the market price of sodium metabisulfite in the future.
Market outlook
Analysts from SunSirs believe that the cost of raw materials declined in a volatile way, and it is expected that the domestic market price of sodium metabisulfite will still have some room to fall in the short term.
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- 2024-04-24 SunSirs: This Week, the Price of Sodium Metabisulfite Remained Stable and Continued to Move Forward (April 15-19)
- 2024-04-16 SunSirs: The Price of Sodium Metabisulfite Was Running to Be Weaker This Week (April 8-12)
- 2024-04-09 SunSirs: The Price of Sodium Metabisulfite Continuedto Be Weak
- 2024-04-03 SunSirs: The Price of Sodium Metabisulfite Remained Weak in March
- 2024-03-26 SunSirs: The Price of Sodium Metabisulfite Was Weaker This Week (March 18-22)
