Sodium Molybdate Price Trend and Forecast

Sodium Molybdate Regional Price Overview

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

Sodium Molybdate Price Trend for Q1 of 2024

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Asia

In contrast to the other global markets, the Asian sodium molybdate markets were moderate during Q1’24. The prices showcased a range-bound incline throughout the given time period. The domestic demands were very regular and moderately supported the pricing outlook.
 

Sodium Molybdate Price Chart

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The upstream costs, on the other hand, were undergoing escalation due to an upswing in feedstock and energy prices. With this, the sodium molybdate prices mostly remained tugged and wavered within confined limits. However, the market sentiments were largely positive for the majority of this period.

Europe

In the European sodium molybdate markets, the upstream factors remained more influential in deciding the pricing scenario for Q1’24. The Russia and Ukraine war entered its third year and continued to heat up when another war broke out in the Middle East between Israel and Hamas. The European supply chains suffered gravely because of this.

The Suez Canal, which oversees major maritime connectivity between Asia and Europe, saw an approximate 50% decline in the number of vessels passing through. Thereby, the shipping charges also surged. Hence the sodium molybdate prices saw an overall rise in prices during the given time period.

North America

Sodium molybdate prices were found to be rising throughout the said period of Q1’24 in the American markets. The downstream consuming sectors were giving a very moderate performance with casual demands, however, the upsurge in feedstock sodium hydroxide and molybdenum trioxide costs drove the prices up for sodium molybdate in the domestic markets.

In the American domestic market, the monthly average prices went from about 24458 USD/MT (CFR) in January’24 to around 25325 USD/MT (CFR) in March’24. This imparted an approximate 3% incline on the domestic price graph of sodium molybdate. Other than this the uncertainties in global markets were also impacting the US markets. However, the general outlook still remained positive as the supply and demand dynamics sustained momentum throughout the said period.

Analyst Insight

According to Procurement Resource, the Sodium Molybdate prices are likely to behave in a similar manner in the coming months as well. The supply and demand outlooks are not projecting any significant changes going forward.

Procurement Resource provides latest prices of Sodium Molybdate. 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.