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SunSirs: The Price of Sodium Metabisulfite Remained Weak in March

April 03 2024 10:31:40     SunSirs (John)

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic price of sodium metabisulfite continued to decline weakly in March 2024. The average price of industrial grade sodium metabisulfite on March 1st was 2,316.67 RMB/ton, and on March 29th it was 2,150.00 RMB/ton, a decrease of 7.2% within the month.

Analysis review

Due to the significant decline in upstream raw material prices, domestic sodium metabisulfite production enterprises significantly lowered their factory prices in March, driving a significant decline in the domestic sodium metabisulfite market price. As upstream raw material prices continued to decline, the domestic sodium metabisulfite market price continued to be suppressed and lowered to around 2,150 RMB/ton.

In March, domestic soda ash prices continued to be weak, falling by 11.42% within the month, while sulfur prices slightly rebounded, rising by 4.22% within the month. Overall, the cost of raw materials for sodium metabisulfite was showing a downward trend, and the continuous decline in 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 be weak, and downstream trading entities are cautious in purchasing. It is expected that the domestic market price of sodium metabisulfite will continue to be under pressure in April, with a moderate to weak trend.

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