SunSirs: The Price of Sodium Metabisulfite Dropped Sharply This Week (June 5-9)
June 13 2023 14:30:04 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the price of sodium metabisulfite in China dropped sharply this week. The average price of industrial sodium metabisulfite at the beginning of the week was 2,250.00 RMB/ton, and the average price at the weekend was 2,033.33 RMB/ton, down 9.63%.
Analysis review
Pressed by the continuous weakness of upstream raw material prices, in June, sodium metabisulfite manufacturers significantly reduced the ex factory price, driving the market price of sodium metabisulfite down sharply this week, falling to around 1,900-2,200 RMB/ton as a whole, with most prices concentrated around 1,900-2,000 RMB/ton. The market price dropped significantly, the wait-and-see attitude of downstream trade entities of sodium metabisulfite increased, and the increase of new orders of enterprises was limited, mainly to complete orders from old customers.
In May, the price of domestic soda ash dropped sharply, falling by 20% in the month. In June, the price of soda ash continued to decline, falling by 6.25% as of June 9. The price of sulfur rose slightly in June, rising by 3.7% in the month. In general, the cost of upstream raw materials continued to decline, and the continued decline in cost will further suppress the price of sodium metabisulfite market in the future.
Market outlook
Analysts from SunSirs believe that the cost of raw materials dropped significantly, and downstream purchases and sales became more cautious. Under the pressure of many bad news, it is expected that the domestic sodium metabisulfite market price will continue to operate under pressure in the short term.
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