North American Market displayed consistent dwindling pricing sentiments for Sodium Citrate dihydrate throughout the final Quarter of 2022. With the start of the fourth quarter, market players continue to keep a close eye on numerous factors that have impacted the market of almost all the commodities, including Sodium Citrate Dihydrate throughout the year. Inflation remained very high in October 2022. In order to bring it somewhat down at a normal pace, many market vendors attempted to boost their sales by providing discounts to destock their stored-up inventories. Until the end of December, the price of Sodium Citrate Dihydrate remained weak, backed by a continued decline in the price of its upstream feed, Citric Acid. Prices fell from USD 1240 to USD 1165 MT CFR in Los Angeles in December due to this declining trend.
The Sodium Citrate Prices in the Asia Pacific region, primarily in China, demonstrated a significant dip throughout the last Quarter of 2022. This price trend was supported by zero-COVID policies and travel restrictions in almost every part of the Chinese economy. China’s mainly faced challenge was coping with clogged logistics on the main trade lanes to North America and Europe as the exports of all the commodities, including Sodium Citrate Dihydrate, were restricted. Furthermore, decremented upstream feed Citric Acid costs and demand from the Food & Pharmaceutical sectors kept prices on the lower side. At the end of the fourth Quarter of 2022, the price of Sodium Citrate Dihydrate dropped by around USD 800/MT FOB Shanghai.
The European region witnessed a similar market sentiment for Sodium Citrate Dihydrate as the United States. The prices of Sodium Citrate Dihydrate demonstrated a dip of 3.15 percent in the month of December, with the settlement at USD 1230/MT CFR Hamburg. Despite the fact that trade flows have partially resumed in Germany and the rest of the Eurozone due to some breathing room, this does not indicate a stable set of market fundamentals, as the inventories of Sodium Citrate Dihydrate remained on the higher side within the domestic market. However, the demand for goods and services from the end-user industry remained sluggish for some time, given the current economic challenges. On top of that, the upstream citric acid cost additionally kept the price of Sodium Citrate Dihydrate on the lower side throughout the fourth Quarter.
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