Sodium Sulfate Price Trend and Forecast

Sodium Sulfate Regional Price Overview

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

 

Sodium Sulfate Price Trend for the Q2 of 2024

Asia

The Asian sodium sulfate market was driven by the complex interplay of overseas procurement rates, domestic demand, and in-house production volumes. In China, before the advent of the May Day holidays, the domestic demand outpaced overseas procurement and availability of the commodity, resulting in an upward trend in the prices of sodium sulfate. However, after the holidays, the domestic market recovery was slow, but the pace of international offers inclined, sustaining the profit margins of both traders and manufacturers.
 

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On the other hand, the market also received ample cost support from its feedstock sodium chloride, supporting an uptrend in the prices of the commodity. By the end of the quarter, the domestic demand for the commodity also improved, raising the expectations of the traders. Although the abrupt rise in ocean freight charges limited the export to European countries, its effect on the Asian sodium sulfate market was not significant.

Europe

The sodium sulfate market in Europe during the second quarter witnessed price fluctuations influenced by various economic and market factors. Despite strong domestic production and ample stocks meeting downstream demand, the market showed signs of rising prices driven by firm demand from the laundry, detergent, and textile sectors. However, the global supply chain disruptions, particularly the ongoing Red Sea crisis, significantly affected the market.

This crisis impacted ocean freight rates and vessel capacity, creating tighter shipping conditions from Asia to Europe. Consequently, transportation challenges contributed to the anticipated price increases. Additionally, the European Central Bank's interest rate cut, aligned with similar moves in Canada, Sweden, and Switzerland, alongside a slight increase in industrial production towards the end of the quarter, indicated strong economic activity and improved business confidence.

North America

Sodium sulfate prices in the US domestic market rose due to increased consumer demand driven by heightened industrial and household activities, as well as the water treatment sector's preparation for summer. Despite this, demand from the downstream textile and paper industries remained weak, influenced by cost pressures from upstream sodium chloride. However, manufacturers faced significant cost increases due to higher input, energy, and labor costs.

The export and import activities showed a decline, but ocean freight rates saw fluctuations, with some mid-quarter increases before dropping again towards the end. Additionally, the market players adopted strict strategies in order to adapt to geopolitical challenges, such as avoiding the Red Sea due to conflicts and benefiting from eased Panama Canal restrictions. Therefore, this combination of factors contributed to the overall upward price trend for sodium sulfate in the US despite varying demand across different sectors.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Sulfate is estimated to be driven by the expansion of the consumer base and rise in the cost support from the raw materials sector.
 

Sodium Sulfate Price Trend for the Q1 of 2024

Product	Category	Region	Price	Time Period
Sodium Sulfate	Chemicals	USA	322 USD/MT	March 2024

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Asia

The market behavior of sodium sulfate is usually dependent on the price trajectories of its feedstock materials, caustic soda, and sulfuric acid, along with the downstream demands from the consuming sectors. In the Asian markets, particularly China, the prices observed a tepid trajectory for the majority of the said period.

The detergent and textile industries had made their required purchases beforehand, so the existing inventories were seeing a glutting situation as the downstream demands remained muted. The global slowdown in the fertilizer market also showed its effects. Sodium sulfate prices started plummeting in the Chinese market in the wake of weakening demands.

India, too, saw a splendid reduction in its imports from Russia. According to some estimates, Russian exports to India decreased by some 37% within the first quarter; fertilizer products made a big part of these reductions. The offshore trade emerged as a global challenge amidst rising freight curtailments. Conclusively, the sodium sulfate prices showcased bearish trends during the said period in the Asian domestic markets.

Europe

In the European sodium sulfate market, the prices observed a sliding trend for the most period of Q1’24. The weakening economic aspects of domestic trade hurdled the supply and demand dynamics in the region throughout the said period. The market began on a weaker note as the numbered working days in January because of the New Year holidays kept the industrial demands for sodium sulfate very limited.

Along with that, the existing inventories were well capable of handling these demands for the most part. Looking at this, suppliers acquired a wait-and-watch approach and procured cautiously. This balanced the outlook a little from the supply side. In the second half of the quarter, the industrial demands too regularized a little since the industrial activities resumed a little. With that, the pricing fundamentals looked a little more balanced in the latter phase of the quarter. Overall, varying market sentiments were experienced.

North America

The American sodium sulfate market mirrored its European counterpart during the said period of Q1 of 2024. The price graph was largely faced southwards in the early phase of the said quarter. Hurdled international trade limited the profit avenues for suppliers and disturbed the overall trade calculations. These complications stemmed from major geopolitical and economic uncertainties around the world, primarily unleashed by the two major armed conflicts in Europe. The general market outlook remained feeble for the majority of the given span. The latter half of the quarter, however, was a little more stable.

Analyst Insight

According to Procurement Resource, Sodium Sulfate price trends are likely to remain curbed for some time in the near future. The inventories are well capable of supporting whatever modest demands the consumers are expected to offer.
 

Sodium Sulfate Price Trend for October - December of 2023

North America

Sodium sulfate experienced a miscellaneous price trend in the fourth quarter of 2023. The North American sodium sulfate market maintained its steady growth trajectory. It was supported by consistent demand from downstream industries, although there were no significant spikes in either production or demand.

The market was characterized by a balance between supply and demand, leading to stable pricing. However, external factors such as fluctuations in natural gas prices continued to impact production costs. Moving forward, the market is expected to stay stable, with a watchful eye on global economic trend and energy prices.

Asia-Pacific

The Asian sodium sulfate price trend in the fourth quarter of 2023 showed a mixed trend. In India, the market experienced a hike in sales, propelled by an increase in the Purchasing Managers' Index (PMI) to 54.9 in December, indicating a significant expansion in manufacturing activities.

However, this positive trend was somewhat offset by the announcement from Tosoh Corporation, Asia’s largest chlor-alkali manufacturer, about ceasing its sodium sulfate production due to significant losses. This development could lead to a tightening of supply in the region and may affect regional pricing dynamics. The overall market sentiment in Asia remained cautious, with market players closely monitoring the supply adjustments and potential impacts on prices.

Europe

The European sodium sulfate largely mirrored the trend in the fourth quarter as was in the previous quarter. Prices continued to show an upward trend, driven by steady demand from downstream sectors such as the detergent industry. However, the market also faced challenges, including high production costs influenced by elevated natural gas prices.

The PMI in key markets like Germany indicated a slight recovery in manufacturing activities, but the overall economic conditions, including inflation rates, continued to play a crucial role in shaping market dynamics. The sodium sulfate market in Europe is expected to navigate these challenges while adapting to any shifts in both domestic and global economic conditions.

Analyst Insight

According to Procurement Resource, the global price trend for sodium sulfate is anticipated to demonstrate the consistently mixed curve as was seen in the fourth quarter of 2023. The demand could rise from the downstream industries and can therefore register a price hike.
 

Sodium Sulfate Price Trend for the July - September of 2023

Asia

Throughout the third quarter, the sodium sulfate price trend took a bleak turn. The producers and traders were forced to adjust their price quotations. This was on account of poor demand for sodium sulfate and the feeble movement of the downstream industries.

The procurement rates were also affected by the slow economic recovery of the region. The effect of poor economic growth was also evident in the fall in the export and import of goods and rising unemployment. In all, these factors combined synergistically to keep the sodium sulfate price trajectory on the negative side.

Europe

Unlike Asian countries, the sodium sulfate market followed an inclining trajectory as the end-user industries exerted a positive influence on sodium sulfate price trend. The inclination was also the result of a subtle decline in inflation and maintained equilibrium between the supply and demand sectors. Additionally, the uproar in the cost of production caused by the surge in the prices of energy and the influx of expensive imports also played a major role in the northward journey of sodium sulfate price trend.

North America

During the starting phase of the third quarter, the consumers were hesitant to place bulk orders due to sliding economic conditions. However, as the quarter progressed, the demand scenario started to change, and downstream industries picked up their pace and gave the sodium sulfate market sentiments its required push. In addition to this, the disruptions in the supply chains and exponential surge in the prices of natural gas, the sodium sulfate price graph was able to trace an inclining trajectory.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Sulfate are expected to oscillate as the changing market sentiments and economic challenges are expected to dictate the trajectory of sodium sulfate prices.
 

Sodium Sulfate Price Trend for the First Half of 2023

Asia

Q1 2023 began with a surge in Sodium Sulfate demands from various downstream and end-user industries, so the market sentiments were fairly positive. But by the end of the second quarter, the inventories had started to overflow with excess supplies, and the demands, though steady, were not growing anymore. So, by the middle of May, the Sodium Sulfate prices had shifted to a downhill track and closed the second quarter in a similar manner. Overall, mixed market behavior was observed by Sodium Sulfate during the first two quarters of 2023 in the Asian market.

Europe

In the European Sodium Sulfate market, a fluctuating price trend was observed in H1 2023. As trade activities started normalizing in the European markets, Q1 2023 saw some fresh downstream demands supporting the Sodium Sulfate prices.

The price trend wavered on the upper side for most of the first quarter, but as the quarters shifted, the inventories started overfilling, and the demands started dipping. This pulled the reverse gear and pushed the prices southward, and these low swinging price trend for Sodium Sulfate continued for most of the second quarter.

North America

The North American Sodium Sulfate market could not behave any differently and almost replicated the European price trend. However, the supply-demand dynamics were still stable, which kept both upward and downward fluctuations in a very narrow range.

Analyst insight

According to Procurement Resource, the price trend for Sodium Sulfate are expected to oscillate in the coming quarter owing to the unsettled supply-demand dynamics amid rising rates of global inflation.
 

Sodium Sulfate Price Trend for the Second Half of 2022

Asia Pacific

In the third quarter, the price of sodium sulfate fluctuated in the Asian market. The rise in domestic manufacturers' inquiries in the region was prompted by the downstream detergents industry. The prices of upstream sulphuric acid and sodium chloride also fluctuated which caused cost pressure on the product’s values. The fourth quarter was, however, favourable in terms of the price trend of sodium sulfate. The prices increased due to low inventories and a limited supply of the product. The region observed a strong downstream demand despite towering inflation rates.

Europe

Due to the region’s inability to effectively use the product, the demand for sodium sulfate for downstream fertilizers fell sharply throughout Europe. The market’s weak purchasing behaviour from the end-users resulted in a fall in sodium sulfate prices. The price was further pushed on the edge by the abundance of inventories and ample supply. Due to the cost pressure brought by the fall in crude oil prices, the prices of sodium sulfate declined. The market also saw a decline in the demand from the detergent industry.

North America

The prices of sodium sulfate rose in the middle of the third quarter of 2022 and then sharply declined. The manufacturing sector in the US experienced a decline in July and the manufacturers reduced their production given the declining orders and rising inventories. The market, however, saw an upsurge in August. This upsurge continued till the fourth quarter, as the demand from the downstream industries increased and the exports increased.

Analyst Insight

According to Procurement Resource, the prices of Sodium sulfate are likely to increase during the coming month given the robust demand in the end-user industry and positive upstream cost pressure.
 

Sodium Sulfate Price Trend For the First Half of 2022

Asia

After persistent drop in previous quarters, sodium sulfate prices saw an increased growth in India. This increase in sodium sulfate prices was mainly driven by a recovery in market dynamics, as costs increased by more than 3% since conflicts started in the Eastern European countries.In China, by March alone, the spot price of sodium sulfate increased by roughly 40%.

The price of sodium sulfate averaged 129USD/MT in March. The price trend for sodium sulfateremained anchored throughout the second quarter due to several reasons. The unplanned shutdown of production units, high cost of sourcing raw materials , supply constarints and port congestion further supported the increased quotations by the manufacturers.

Europe

The major European economies' access to resources has been severely impacted by the continuing Russian invasion on Ukraine. Russian natural gas supplies have been restricted, which has raised concerns about the supply of sodium sulfate amid increased cost of production and supply chain issues.

North America

Russia's invasion of Ukraine has had a significant impact on trade activities all over the world. In the second quarter, sodium sulfate  prices increased by about 8% on the upstream price front.

According to market players the manufacturing capacity has been hampered by supply shortages as a result of sharp increases in input and output costs. Furthermore, the rise in material tariffs, higher fuel prices, and higher transportation costs have increased operating costs and supported the increased prices of sodium sulfate.
 

Sodium Sulfate Price Trend For the Fourth Quarter of 2021

Asia

During the fourth quarter of 2021, the market sentiments varied for the Northeast Asia market and Southeast Asian market in the APAC region. In China, the market sentiments gradually eased after reaching the historic highs as the consistent efforts made by the Chinese authorities had curbed the power rationing in the country.

As a response, the output efficacy improved after being dampened for two months. Whereas, due to the rising offers of crude oil and sulphur, sulphuric acid’s market remained buoyed in India, which was further backed by the constant demand from the fertilizers industry. As a ripple effect, the FOB Qingdao quarterly average discussion for the feedstock was assessed at 124 USD/MT.

Middle East

In the final quarter of 2021, the sentiments for the sulphuric acid market in the Middle East remained strongly upwards which affected the sodium sulfate prices. The market participants from the regional and international markets actively inquired about the acid throughout the quarter. Consequently, the Ex-Jeddah quarterly discussion for the feedstock was concluded at 210 USD/MT in the fourth quarter of 2021.

North America

After observing a constant upward trend in the previous quarter, the market sentiments for the chemical eased during the fourth quarter of 2021. This development in the market movement was majorly attributed to the better availability of upstream sulphur as the OPEC+ alliance decide to steadily increase the production of Crude Oil and it further backed by the announcement made by the Biden’s administration to release the strategic oil reserves in the mid of the fourth quarter. As a consequence, the FOB Linden NJ sulphuric acid price settled at 178 USD/MT.
 

Sodium Sulfate Price Trend For First, Second and Third Quarters of 2021

Asia

In the first quarter, the Asian market observed a fair import demand from other continents like Europe, although the regional demand remained low due to lesser enquiries from the downstream fertiliser sector. The Chinese Lunar year impacted Asian sulphuric acid output for a couple of weeks as inventory levels of several major manufacturers reduced to their lowest.

Meanwhile, in the Indian market, domestic demand from phosphate fertilisers producers was lower than the export demand from Europe amid spring seasons. Despite sufficient availability, prices of the feedstock remained well backed by high priced imports arriving from some European countries. In India, the acid prices rose from 177.23 USD/MT in January 2021 to 207.17 USD/MT in March 2021.

Sodium sulfate prices were also impacted by this rise in feedstock prices. The market reported an extreme rise in demand for the chemical, primarily in China during the second quarter. Meanwhile, the demand in India remained moderate due to an unanticipated surge in pandemic cases.

In the Indian market, the price of the commodity is highly influenced by the demand from downstream phosphate fertilizers segments and upstream crude oil values. Thus, the price of Battery Grade sulphuric acid was assessed at 288.7 USD/MT during the final week of the quarter.

While in China, the upstream sulphuric acid prices increased by double-digit, due to a sudden hike in demand from the downstream market, supported by whooping economic recovery in the second quarter of 2021.

The prices of feedstock rose effectively in the Asia Pacific region during the third quarter of 2021, backed by consistent demand from the emerging economies including China and India. The prices climbed up in India in August followed by the sharp rise in prices of catalyst vanadium in the country, as a result of which sodium sulfate prices also rose.

Despite a decline in the price trend of sulphur, amidst modest demand from the domestic market, producers had to elevate their product prices to sustain the product margin during Q3. Sources revealed that producers were facing the burden of surging production costs due to hiked catalyst prices, which pushed them to increase their product prices to protect their margin in Q3 of 2021. Ex-Depot Delhi NCR (India) price was last assessed at 174 USD/MT during the last week of September.

Europe

Europe had a modest demand for the chemical from the regional fertiliser sector during Q1 2021. The demand majorly was induced by the phosphate fertiliser manufacturing sector and remained high due to the onset of the spring season.

The domestic supply ranged from moderate to low across the region amid strong demand which send the regional prices to new highs during the quarter. Trading activity remained halted due to freezing weather across the region that disrupted the supply activity across the region.

The market had firm demand for the feedstock in the second quarter amidst supply shortages across the region. The tight supplies of the feedstock influenced the production of sodium sulfate.

Post pandemic spot demand from the regional downstream businesses effectively escalated, as the spot market activities were reaching their normalcy week over week. Additionally, curtailed supply activities due to lower inventory levels backed the prices to gain upward momentum in the meantime.

While INEOS announced the closure of its UK based upstream sulphuric acid plant operations, that induced uncertainties among buyers. In the European region, the feedstock’s market outlook showcased an upward price trend in the third quarter followed by the rise in demand from the downstream fertilizers sector.

The crises of Europe's natural gas and a high energy surcharge raised the overall production cost of local manufacturers. Strong elemental sulphur during Q3 and disruptions in supply pushed the prices higher. Additionally, curtailed supply activities due to lower inventory levels further backed the price upward trend.

North America

The North American sulphuric acid market observed a downward trend in the first quarter due to lower demand from the downstream derivatives. As production activities were halted across the US gulf, due to freezing weather conditions, some production plants remained idle, for example, PCL Nitrogen shut its Texas-based production unit in mid-February.

Although demand from the domestic market remained very low and several producers claimed sufficient availability of upstream sulphuric acid, average prices reduced by 2.4% during the quarter to settle at 60.5 USD/MT till March-end.

The market remained strong during the second quarter, gaining momentum from the pick-up in domestic fertilisers and other downstream industries. The demand for the commodity remained high in the meantime, while the supply showcased some fluctuations that led the prices to fluctuate respectively across the USA.

Regular offtakes from the fertilizers segment maintained the demand for the feedstock while the industrial acid sector elevated demand lately, and eventually, the supply-demand gap escalated leading to a steep rise in its prices which in turn affected sodium sulfate prices.

During the third quarter of 2021, the market price sulphuric acid observed a significant rise in the North American region. An improvement in the sulphur supply was observed which resulted in the adequate availability of the feedstock in the US market. In terms of demand, the regional market experienced an uptrend in Q3 as a result of strong demand from the downstream petroleum refining, chemical, and fertilizer industry. Pricing remained a key concern as manufacturers struggled to grapple with high energy costs.
 

Sodium Sulfate Price Trend For the Year 2020

Asia

Sulphuric acid is the primary feedstock in the production of sodium sulfate in the Manheim process. Shortage in its supply was observed in Q3 2020 in the Asia Pacific region, because of escalated demand of the commodity from the downstream sectors in China which led to an increment in domestic Chinese consumption. This affected the production of sodium sulfate in the region.

China is one of the major exporters and consumers of the feedstock in the Asia-Pacific region and strongly drives the regional market outlook. The demand-supply equilibrium of the region was seen impending shifts towards China and South Korea with manufacturers running out of stocks till the end of 2020.

Europe

The supply of upstream sulphuric acid was stable in Europe in Q3 of 2020, while its demand, which remained poor in July & August, showed gradual recovery by the end of September 2020. Most of the economies in the European region started recovering with demand from the acid consuming sectors gaining the lost upward trend by the second half of the quarter as rollovers were readily accepted by most buyers.

North America

The upstream supply of the feedstock was tight in Q3 because of the outbreak of Hurricane Laura in the region, which caused disruptions in the US power supply and ultimately impacted the sodium sulfate production. Kennecott, one of the largest manufacturers of feedstock sulphuric acid via the smelter route reported a decline in sulphuric acid production due to disruptions in the power supply.

Several other manufacturing units were heard announcing closures at their units temporarily, exacerbating the supply constraints. Some units were unable to resume production until the end of September, resulting in a significant demand-supply gap, impacting sodium sulfate prices as well.

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