Sodium Iodide Price Trend and Forecast

Sodium Iodide Regional Price Overview

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

Sodium Iodide Price Trend for Q1 of 2024

In Q1 of 2024, the market behavior of sodium iodide across Asia, Europe, and North America was heavily influenced by varying factors. In Asia, particularly in China and India, sodium iodide prices were struggling for the most part due to a subdued demand outlook from key consuming sectors such as the pharmaceuticals and the medical equipment industries.
 

Sodium Iodide Price Chart

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These sluggish demands were compounded with bulked-up inventories since the international demands were also facing a downturn. The domestic demands were regular as gauged by the incoming orders; therefore, the prices still had some positive cost support in the Asian region for the time being. In Europe, the supply chain difficulties and rising manufacturing costs crumbled down consumer sentiments. Stakeholders acquired a wait-and-watch approach in the region so as not to lose money.

This gap between the upstream and downstream outlooks widened to a point where some rise in downstream demands was also not helping the markets. Therefore, although demand remained modest, rising feedstock costs and surging energy and crude oil prices led to an increase in manufacturing, storage, and logistics expenses, forcing suppliers to raise sodium iodide prices to manage escalating upstream cost pressures.

Similarly, in North America, the market showed a mixed response, with prices influenced by regional and global political and economic uncertainties, which affected industrial activities. Despite these pressures, demand continued to play a crucial role in all regions, ultimately constraining market growth as it failed to pick up significantly, keeping the market avenues limited and pushing suppliers to adjust pricing strategies in response to cost fluctuations and external market forces.

Analyst Insight

According to Procurement Resource, not much change is anticipated in the sodium iodide prices going forward; the market is likely to waver around similar ranges.

Procurement Resource provides latest prices of Sodium Iodide. 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.