SunSirs: The Price of Sodium Metabisulfite Rebounded Significantly in August
September 04 2023 09:39:20 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of domestic sodium metabisulfite significantly rebounded in August. The average price of industrial grade sodium metabisulfite on August 1st was 1,866.67 RMB/ton, and on August 31st it was 2,250.00 RMB/ton, with a significant increase of 20.54% during the month.
Analysis review
In August, upstream raw material prices continued to rise. Supported by rising raw material costs, domestic sodium metabisulfite manufacturers had successively raised the factory price of sodium metabisulfite, driving a significant rebound in the domestic market price of sodium metabisulfite. Raw material costs rapidly increased, and the inventory of sodium metabisulfite was relatively low. After the price increase, downstream stocking willingness had become stronger, and supported by costs and demand, some companies' quotations increased to around 2,600 RMB/ton at the end of the month.
In August, the price of domestic soda ash increased significantly, with a 41.26% increase within the month. The price of sulfur increased significantly, with a 30.08% increase within the month. The significant increase in raw material costs will further support the domestic market price of sodium metabisulfite in the future.
Market outlook
Analysts from SunSirs believe that under the dual support of cost and demand, there is still some room for upward movement in the domestic sodium metabisulfite market price in September.
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- 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
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