Price trend
According to the monitoring of SunSirs, the domestic sodium metabisulfite price rose sharply in September. The average price of industrial-grade sodium metabisulfite on September 1 was 2,600.00 RMB/ton, and the average price on September 30 was 3,333.33 RMB/ton, a sharp increase of 28.20% during the month.
Analysis review
In August, the domestic soda ash and sulfur prices continued to rise at a high level, and the cost of raw materials continued to rise. In early September, various manufacturers increased their ex-factory prices, driving the domestic sodium metabisulfite market prices to rise across the board, and the average price at the beginning of the month rose to about 2,600 RMB/ton.
As the domestic soda ash price rose further in September, and the overall inventory of sodium metabisulfite continued to be low, under the support of rigid downstream demand, various manufacturers continuously increased the ex-factory price of sodium metabisulfite in September, driving the domestic market price of sodium metabisulfite to continue to rise.
The dual control policy was implemented at the end of the month, and manufacturers’ inventories continued to decline. Some companies had no choice but to stop accepting orders. At the end of the month, many companies adjusted their ex-factory prices to around 3,500 RMB/ton, further pushing up the domestic market price of sodium metabisulfite.
The price of domestic soda ash rose sharply in September, rising by 34.05% during the month. In September, the domestic sulfur price became stronger, rising by 2.6% during the month. The price of upstream raw materials continued to rise at a high level. The cost would further support the market price of sodium metabisulfite in the future.
Market outlook
SunSirs’ analysts believe that manufacturers' inventories continue to be low, upstream raw material costs continue to rise, and downstream demand continues to remain strong. It is expected that the domestic sodium metabisulfite market price in October will still have a certain room for increase.
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