SunSirs: The Price of Sodium Metabisulfite Continued to Be Weak This Week (October 16-20)
October 25 2023 10:46:41 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of domestic sodium metabisulfite continued to be weak this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2,583.33 RMB/ton, and the average price at the weekend was 2,450.00 RMB/ton, a decrease of 5.16% during the week.
Analysis review
Due to the continuous decline in raw material prices, domestic manufacturers lowered the factory price of sodium metabisulfite again, driving the domestic market price of sodium metabisulfite to continue to decline weakly. This week, the market price range for industrial grade sodium metabisulfite was 2,450-2,550 RMB/ton. Downstream companies had a strong wait-and-see attitude. The inventory of the enterprise was relatively sufficient, and the enterprise mainly completed orders from old customers.
As of October 20th, domestic soda ash prices had continued to decline weakly, falling by 11.33% during the month, while sulfur prices had dropped by 10.16%. The continued decline in raw materials prices will further suppress the market price of sodium metabisulfite in the future.
Market outlook
Analysts from SunSirs believe that under the dual pressure of cost and demand, there is still some room for a decline in the domestic market price of sodium metabisulfite in the short term.
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- 2024-04-03 SunSirs: The Price of Sodium Metabisulfite Remained Weak in March
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