Sodium Nitrite Price Trend and Forecast

Regional Price Overview

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

Sodium Nitrite Price Trend for the October - December of 2023

Asia

The market trend for sodium nitrite were observed to be wavering in a narrow range during the fourth quarter of the year 2023. Even within the Asian region, the price trend for sodium nitrite varied regionally; the Chinese markets were more assertive than the Indian market during the said period. A better demand dynamic in the Chinese market as a result of the increased market offtakes from the food and pharma industries played in favour of sodium nitrite price trend.

Sodium Nitrite Price Chart

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At the same time, the exhaustive inventory levels in the Indian sodium nitrite markets were holding the prices under check. However, the variations in prices were not very extreme in general, as overall international trade was suffering during this time. Market sentiments were largely observed to be mixed in Q4’23.

Europe

The European sodium nitrite market started on a slightly better note at the beginning of the quarter in October than in the latter part of the quarter. The prices here experienced minor fluctuations throughout the said period. The feedstock sodium hydroxide and nitrogen oxides also failed to provide any substantial cost support. Overall, swinging market trend were witnessed in the domestic European markets.

North America

The American market patterns for sodium nitrite were more on the negative side of the market trajectories. Given the uncertainties in the economic markets and the freight disturbances during the said duration, the sodium nitrite prices mostly swung on the lower end of the curve.

Analyst Insight

According to Procurement Resource, the Sodium Nitrite price trend are likely to improve in the coming months, given the gradual movement in the demand dynamics and pricing fundamentals of the various regional markets.

Sodium Nitrite Price Trend for the July-September of 2023

Asia

The procurement rates of consumers fell short as compared to the production of sodium nitrite, leading to a feeble trajectory of the sodium nitrite price graph. However, during the initial phase of the third quarter, the bloom in the food and beverage industry helped the sodium nitrite market maintain its inclining momentum, but soon, the disbalance in supply-demand equilibria resulted in the downfall of sodium nitrite prices. This eventually caused the level of inventories to shoot up, and as a result, the traders were forced to compromise their price quotations.

Europe

In the third quarter, the European countries faced the pressure of inflation that hampered the industrial sector's growth significantly. In the initial months, the demand from consumers also suffered from the ill consequences of the poor state of the economy and unreasonable hikes in the rates of interest charged by banks.

However, the subsequent months showcased some relief as the flight path of the sodium nitrite price graph inclined at a slow but gradual pace. This inclination in the prices was fueled by the crunch in supply chains and a substantial rise in the downstream demand for sodium nitrite.

North America

Throughout the majority of the third quarter, the sodium nitrite price trend experienced a downfall as the number of new orders and rates of exports depleted significantly. In view of the poor demand for sodium nitrite, the traders had to offer huge discounts and lower their price quotations to keep the level of inventories in check.

The export rates, on the other hand, declined as the European countries lowered their demand due to the holiday season. But at the end month, the sodium nitrite prices showcased slight improvement in terms of the number of new inquiries and the purchasing appetite of consumers.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Nitrite are estimated to move in an upward direction in the upcoming months as the market is likely to be supported by high demand and a rise in the cost of feedstock materials.

Sodium Nitrite Price Trend for the First Half of 2023

Asia

The sodium nitrite market fluctuated in the first and second quarters of 2023 as the demand from the food and beverages sector improved throughout the quarter. But the rising level of inventories and hikes in interest rates, and inflation in the region remained a challenge for the sodium nitrite prices. In addition to this, the purchasing capacity of consumers and investments reduced significantly with the slump in demand from North America and European nations, which ultimately led to the fall in the price trend of sodium nitrite in the Asia-Pacific region.

Europe

In the first quarter, the prices of sodium nitrite fluctuated as the market was affected by the weak market dynamics of the European markets due to the rising inflation rates and high volatility in the economic conditions of the region. The disrupted economy led to a fall in the confidence of consumers that, in turn, decreased their purchasing potential. However, the trend improved in the second quarter with support from the downstream food industries. The extreme weather conditions pushed consumers to buy sodium nitrite, that had supported the growth of the sodium nitrite price trend.

North America

In North America, a mixed trend in sodium nitrite prices was seen. In the initial phase, support from the food and beverages industries supported the surge in the prices of sodium nitrite. But with the onset of the second quarter, the prices began to decline as a high influx of cheap imports from the Asian countries boosted the level of inventories and led to the decline in prices.

The government also adopted strict monetary policies to curb the financial crises caused by the failure of two major US banks. It also negatively impacted the prices of sodium nitrite. However, the market showcased some signs of recovery in the last month of the second quarter with a rise in demand and stabilized interest rates.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Nitrite is estimated to showcase an oscillating trajectory as the demand and global economic conditions are highly uncertain.

Procurement Resource provides latest prices of Sodium Nitrite. 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.