SunSirs: The Price of Sodium Metabisulfite Was Weaker and Stabilized in July
August 01 2023 13:42:58 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the domestic price of sodium metabisulfite was slightly weaker in July, and then the market stabilize overall. The average price of industrial sodium metabisulfite was 1,966.67 RMB/ton on July 1, 1,866.67 RMB/ton on July 31, down 5.08% in the month.
Analysis review
Pressed by the sharp decline in the price of upstream raw materials, the manufacturer slightly lowered the ex factory price in July, driving the price of domestic sodium metabisulfite market to further decline. In early July, the mainstream price of domestic industrial sodium metabisulfite market fell to around 1,800-1,900 RMB/ton as a whole. Since mid July, the price of domestic soda ash had rebounded slightly, the price of sulfur had rebounded from the bottom, the cost of raw materials stopped falling and rebounded, and the domestic sodium metabisulfite had moved forward steadily as a whole.
In July, the price of domestic soda ash rose slightly, rising 5.1% in the month, and the price of sulfur rose significantly, rising 18.69% in the month. The rebound of raw material cost will strongly support the price of domestic sodium metabisulfite market in the future.
Market outlook
Analysts from SunSirs believe that the cost of raw materials stopped falling and rebounded, and downstream trade entities were more willing to stock up. Supported by costs and demand, it is expected that the overall price of domestic sodium metabisulfite market will reach the bottom and rebound in August.
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