Sodium Nitrite Price Trend and Forecast

Sodium Nitrite 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 Q3 of 2024

Asia

In the Asian market, particularly China, sodium nitrite prices showed an upward trend during Q3 2024. Rising production costs, primarily due to increased raw material prices, prompted Chinese manufacturers to adjust their prices.
 

Sodium Nitrite Price Chart

Please Login or Subscribe to Access the Sodium Nitrite Price Chart Data
 

The global trade environment further impacted the market, with elevated freight costs influenced by geopolitical tensions and logistical challenges. These factors combined to push export prices higher, affecting the competitiveness of Chinese sodium nitrite in the global market.

Europe

The European sodium nitrite market, especially in Germany, experienced a more stable pricing environment in Q3 2024. German producers, facing moderate demand from downstream industries like food preservation and metal treatment, maintained steady production levels. The stability in raw material costs, particularly for sodium hydroxide, helped buffer against significant price fluctuations. However, buyers' cautious approach, anticipating potential market shifts, led to some inventory build-up among producers.

North America

In North America, the U.S. sodium nitrite market saw a gradual price increase throughout Q3 2024. As a significant importer of Chinese Sodium Nitrite, the market felt the impact of rising overseas production costs. Robust demand from key sectors such as food processing and water treatment sustained consumption rates despite price pressures. U.S. buyers, adapting to the evolving cost environment, explored alternative sourcing options and adjusted procurement strategies to ensure steady supplies.

Analyst Insight

According to Procurement Resource, the prices of Sodium Nitrite are likely to maintain an upward trajectory in the coming months. The anticipated increase is primarily attributed to rising raw material costs and ongoing supply chain challenges.
 

Sodium Nitrite Price Trend for the Q2 of 2024

Asia

The sodium nitrite market witnessed a bidirectional movement of prices during the said period of the second quarter of 2024. In China, the sodium nitrite market saw a slight uptick during the second quarter, largely driven by the rising costs of nitric acid, a crucial raw material. Contributing factors included a shortage of key inputs like ammonia and elevated production rates in response to heightened demand.

The rebound in downstream demand from the pharma and dye industries added to the market pressure. Furthermore, the onset of peak production season after the May Day holidays spurred increased demand from the cosmetics, haircare, automotive, and textile industries. Labor shortages following the holiday period exacerbated supply issues, tightening the market further. A dip in the crude oil costs in the early quarter did provide some reverse push to the sodium nitrite prices. Overall, a stable market trajectory was witnessed throughout Q2’24.

Europe

In Europe, despite rising feedstock costs, the sodium nitrite market experienced a sluggish momentum during Q2 2024. Producers ramped up output in anticipation of improved sales as inflationary pressures eased. However, weak interest from downstream industries led to an accumulation of inventories, applying downward pressure on the market. Additionally, export volumes were impacted by fewer overseas orders due to escalating tensions in the Red Sea and extended lead times, further challenging the sodium nitrite market.

North America

In North America, the sodium nitrite market faced supply chain disruptions in Q2 2024, largely due to logistical issues. The collapse of the Baltimore Bridge significantly affected trade flows through the Port of Baltimore, a key hub for international trade. Companies were forced to reroute shipments, increasing operational costs across several commodities, including sodium nitrite. The shift toward West Coast ports to alleviate the East Coast bottlenecks added complexity to the supply dynamics, influencing the overall market situation.

Analyst Insight

According to Procurement Resource, the prices of Sodium Nitrite will be influenced by changes in feedstock costs and global trade shifts in the coming quarters; a varying price trek is expected.
 

Sodium Nitrite Price Trend for the Q1 of 2024

Stay updated with the latest Sodium Nitrite prices, historical data, and tailored regional analysis
 

Asia

The first quarter of 2024 marked a significant downturn in global sodium nitrite prices. The fluctuations in production volumes, driven by factors like shifts in consumer preferences, further contributed to an oversupply situation, driving prices of sodium nitrite downward. The traders noticed a sustained decline in sodium nitrite prices throughout the quarter also because of a loss of procurement rates both domestically and internationally.

This decline also stemmed from factors including the availability of alternative sources, fluctuations in demand influenced by macroeconomic conditions, and extreme strategies adopted by the manufacturer in order to stimulate demand amid escalating inventories. Additionally, falling prices of raw materials, particularly nitric acid, have further impacted sodium nitrite prices as manufacturers adjust pricing strategies accordingly.

Europe

In the first quarter of 2024, the European sodium nitrite market experienced bearish conditions amid ongoing regional conflicts, which significantly impacted the downstream agrochemical demand. With the conclusion of the peak planting season in the previous quarter, the demand for sodium nitrite and its derivatives remained subdued in the first quarter of 2024. Although German farmers initiated inquiries for spring fertilizer volumes but, this interest was yet to be translated into substantial demand of sodium nitrite.

Despite this, domestic production by companies remained steady, gradually increasing the level of inventories and pressuring domestic traders. Moreover, the cost of feedstock chemicals also declined in the aforementioned period, adding to the oscillating fundamentals of the sodium nitrite market and asserting a negative influence on its pricing patterns.

North America

As the global sodium nitrite market faced persistent pessimism, the US sodium nitrite market also mirrored this trend. The declining prices of key raw materials, notably natural gas and nitric acid, eased production costs and exerted a significant influence on sodium nitrite prices. The reduced demand from vital fertilizer sectors, coupled with trade uncertainties and adverse weather conditions, contributed to the downward price trajectory.

In the United States, oversupply and subdued domestic and international demand presented a frail trail in the sodium nitrite market throughout the first quarter of 2024. The limitation in consumer spending post-peak planting season, compounded by reduced imports from Brazil due to Carnival festivities, further strained the market. Domestic manufacturing sustained satisfactory production rates, leading to surplus inventories. These factors converged, widening the demand-supply gap and reinforcing price declines.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Nitrite is expected to turn bearish as the end-user industries are likely to adopt a wait-and-see stance amid the changing trading winds and consistent alternation in the cost of crude oil and other raw materials.
 

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.

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.