Sodium Bromide Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Sodium Bromide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Sodium Bromide Price Trend for the Q1 of 2024

Asia

In Asia, sodium bromide prices surged after following a stagnant stance during the majority of the first quarter due to increased downstream production activities and limited stocking of inventories after the Chinese Lunar New Year holiday season. The recovery trajectory of downstream production, along with positive consumer sentiment in the sodium bromide industry, indicated a continued positive trend in the end phase of Q1 of 2024.

Sodium Bromide Price Chart

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Additionally, the added volatility caused by the surging cost of feedstock chemicals after the announcement of price hikes by chemical giants and the changing landscape of the Asian crude oil trade amid moderating OPEC+ regulations also asserted a significant impact on the pricing pattern of sodium bromide.

Europe

During the first quarter of 2024, sodium bromide prices in European countries faced a decline attributed to low production costs and sluggish demand, particularly from downstream industries like oil and gas drilling. Despite slight improvements in industrial activities, a marginal increase in the early prices of sodium bromide was seen, and demand remained subdued, influenced by challenges in global trade, including the Red Sea crisis affecting routes like the Suez Canal.

The recessionary trends in regions such as Germany further dampened trading activities, while elevated freight rates and ongoing supply chain constraints continued to impact sodium bromide pricing patterns. However, in the adjacent quarters, the traders anticipate a robust rise in the demand scenario of the domestic as well as overseas industries which further influenced the production activities during the Q1 of 2024, only raising the stockpiles of sodium bromide.

North America

In the first quarter of 2024, sodium bromide prices moved northwards with the influence of improved downstream market momentum. In North America, the sodium bromide sector outperformed the expectations of the traders, supported by sanitation initiatives and growing lithium ventures. Despite challenges like high input costs and infrastructure limitations, the sector remains resilient, which further spiked the sodium bromide price trend.

The region also faced a supply-demand gap, relying on imports from Asian countries, but these also remained on the lower end due to geographical constraints. However, resilient downstream sectors and opportunities in lithium extraction led to a rise in optimism among industry players, prompting them to raise their in-house production of sodium bromide.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Bromide is expected to improve, though at a slower pace, as the current pace of rising freight charges will affect global production, but the rise in appetite of downstream industries might balance these challenges.

Sodium Bromide Price Trend for the October - December of 2023

Asia

Sodium Bromide is a toxic chemical that is used for various industrial applications like in the oil and gas refineries as a workover fluid and in the photography industry as a retainer fluid. These core applications largely guide the sodium bromide market trend. Along with this the feedstock chemicals sodium hydroxide and bromine also influence the sodium bromide market trend very strongly.

During the given period, sodium bromide prices were observed to exhibit regional variations in the Asian markets. The Chinese market saw marginal improvements in the sodium bromide price trend, while the Indian market trend mostly wavered within very confined limits during Q4’23. Better downstream demands in the Chinese market drove the sodium bromide trend positively. Overall, a blended regional trend was observed for the Asian sodium bromide market during the said period.

Europe

The European market trend for sodium bromide were observed to be mostly fluctuating positively during the final quarter of the year 2023. The supply chain disturbances caused by the Israel and Hamas war pressurized the domestic inventories and supported the market trend favourably. However, occasional, and feeble demands pushed the price trend down during the said period. Overall, mixed market sentiments were witnessed.

North America

The American sodium bromide market was influenced by European trend during the said period. With the supply chain constraints and freight hurdles, the American market also saw occasional surges in the sodium bromide price trend. However, the cut down in international trade for the very same reason also brought the sodium bromide prices down. So, a mixed market pattern was witnessed.

Analyst Insight

According to Procurement Resource, the Sodium Bromide price trend are likely to continue to oscillate in a similar way going forward as well. The current supply and demand dynamics suggest narrow-ranged fluctuations in price trend.

Sodium Bromide Price Trend for the July-September of 2023

Asia

Mixed market sentiments were experienced in the sodium bromide market during the third quarter of 2023. The market had a slow start in the first month of the quarter as the demands from the pharma, oil, and gas industries were on the lower side. However, as the quarter progressed and the industrial revival picked a little pace in China, the downstream demands for sodium bromide also started rising, and the market outlook improved.

Hence, after a dipping run in the majority of the first half of the quarter, the sodium bromide price trend improved substantially in the latter half. A consistently varying price graph was observed for sodium bromide throughout the third quarter of 2023. Overall, the general market sentiments were largely observed to be positive.

Europe

The European sodium bromide market too reflected a similar variation in the price graph as the Asian market. The former half of the quarter was relatively weaker, and the latter half saw some noticeable fluctuations in the upward direction. Since the market demands primarily drove these price trend for sodium bromide, the price graph almost mimicked the variations in the demand spectrum. Overall, mixed market sentiments were witnessed.

North America

The North American market for sodium bromide was relatively weaker than other major global markets throughout the discussed period. The prices saw a depressing curve for most of the said span; it was only at the end of the quarter in September that some upliftment in the sodium bromide price trend was experienced.

Analyst Insight

According to Procurement Resource, the Sodium Bromide price trend are likely to fluctuate as per the market demands. All the influencing factors suggest a moderate market run in the coming months.

Sodium Bromide Price Trend for the First Half of 2023

Asia

In the Asia Pacific region, the price trend of sodium bromide showcased a falling trajectory in both the first and second quarters of 2023. Due to the weak demand from the water treatment, pharmaceuticals, and drilling industries, the import rates fell, and the domestic manufacturers were also forced to reduce their production outputs. The supply chain in the region was also dampened amid the high availability of the product in the market.

Europe

In the initial months of the first quarter of 2023, sodium bromide prices were inclined with the rise in energy production costs and the low supply of the product in the region. However, from the second month of the year, the trend declined significantly.

The major factors that affected the regional dynamics were the drop in overseas inquiries, slow demand from water treatment industries and rising stockpiles of inventories. In addition to these, the second quarter was also negatively impacted by the dooming recession and high inflation and soaring energy costs that ultimately drove the price trend of sodium bromide in a negative direction.

North America

The trend of prices of sodium bromide in North America was similar to that observed in the European and Asia Pacific region. Sodium bromide prices inclined in the first month of the first quarter and then fell regularly throughout the second quarter.

A cumulative effect of several factors, such as falling demand from the end-user industries, the slow purchasing potential of consumers, import of cheaper products from Asian countries and rising economic uncertainties pushed sodium bromide prices in a negative direction.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Bromide is expected to showcase a southward trajectory as the demand from the water treatment and end-user industries seems weak.

Procurement Resource provides latest prices of Sodium Bromide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.