During the first quarter of 2023, the Sodium Tetraborate Prices in North America showcased mixed market momentum. The prices were significantly falling in the first half of the quarter, which later gained stability as the quarter approached its end. During March, an improvement in the industrial production and sales of the construction and detergent industries was witnessed, which increased market demand for Sodium Tetraborate and resulted in a stable rise in price. Additionally, the level of inventories was lower than what was necessary to meet the demand, and the supply rate lagged, which led to an unstable demand-supply ratio and an increase in the price of Sodium Tetraborate. As a result, the evaluated price for Sodium Tetraborate in the USA in March was USD 592/MT FOB Illinois.
Unlike North American market sentiments, the Asia-Pacific region witnessed a consistent fall in Sodium Tetraborate prices during quarter 1 of 2023. The price trend of Sodium Tetraborate in the Asian market has been softening due to the bad condition of the downstream construction sector and the weak procurement attitude of end-users for detergent boosters. Strong supply was developed because of increased refinery run rates and falling upstream boric acid costs in the Asian market. Hence, the instability in the demand and supply ratio caused the Sodium Tetraborate prices to fall drastically during the quarter. Hence, the assessed cost of Sodium Tetraborate in China was USD 831/MT FOB Dalian in March, which was 33.3% lesser than its value in December.
The market for sodium tetraborate in Europe experienced uneven market momentum during the first quarter of 2023. During the first half of the quarter, prices inclined in January, only to decline sharply in February; however, as the quarter's end drew near, they began to stabilize. The building and detergent industries' industrial production and sales improved in March, which increased market demand for sodium tetraborate and led to a steady price increase. In addition, inventories weren't as high as they needed to be to fulfill demand, and the supply rate was slower than it should have been. These factors combined create an unstable demand-supply ratio and a spike in the price of sodium tetraborate. So, in March, the assessed cost of sodium tetraborate in Germany was USD 865/MT CFR Hamburg.
ChemAnalyst addresses the key global problem areas and risks associated with the chemical and petrochemical business and enables the decision-maker to make smart choices. It identifies and analyses geopolitical risks, environmental risks, raw material availability, supply chain functionality, technology disruption, etc. It targets market volatility and ensures clients navigate through challenges and pitfalls efficiently and agilely. Timeliness and accuracy of data have been the core competency of Chemanalyst, benefitting domestic and global industries in tuning in to real-time data points to execute multi-billion-dollar projects globally
Showing 1 reaction
Sign in with