SunSirs: The Price of Sodium Metabisulfite Continued to Weaken and Decline in October
November 01 2023 10:50:41 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of domestic sodium metabisulfite was weaker and downward in October. The average price of industrial grade sodium metabisulfite on October 1st was 2,683.33 RMB/ton, and on October 31st it was 2,450.00 RMB/ton, a decrease of 8.70% during the month.
Analysis review
In October, the prices of domestic soda ash and sulfur have significantly decreased, and under the low cost system, manufacturers have successively lowered the factory price of sodium metabisulfite. The domestic market price of sodium metabisulfite continues to be weak and downward.
The raw material cost continues to be weak, downstream trading entities have increased their wait-and-see attitude, and market trading has become more light. Under the dual pressure of cost and demand, the domestic market price of sodium metabisulfite continues to be weak and downward during the month.
In October, the prices of domestic soda ash and sulfur decreased comprehensively, with soda ash prices falling by 18.77% and sulfur prices falling by 7.87%. The continued weakness of raw material costs will further suppress the market price of sodium metabisulfite in the future.
Market outlook
Analysts from SunSirs believe that raw material costs continue to decline, and downstream demand was cautious. It is expected that the domestic sodium metabisulfite market price will continue to operate under pressure in November.
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