For the Quarter Ending June 2023


North America:

In Q2 2023, the Sodium Bromide market in the United States experienced a bearish trend, with prices consistently declining for a significant portion of the quarter. This trend continued into June, reflecting the prevailing market sentiment. Several factors contributed to the price decline, including reduced demand from downstream industries and increased imports of competitively priced goods. Industries relying on Sodium Bromide, such as water treatment and oil drilling, witnessed sluggish demand throughout the quarter. This diminished demand resulted in lower purchases and a lack of strong market support, making it challenging for suppliers to maintain price levels. Furthermore, the influx of low-priced Sodium Bromide imports exerted additional pressure on the domestic market, impacting price dynamics. Economic uncertainties added to the challenges faced by the US Sodium Bromide market during this period. Global economic conditions were uncertain, leading to a weak demand outlook, and consumers exhibited hesitancy towards new purchases, further affecting market sentiment. At the end of Q2 2023, Sodium Bromide prices in the US were assessed at USD 1950 per MT on a FOB basis.

APAC:

The Indian Sodium Bromide market witnessed a bearish trend throughout Q2 2023, with prices consistently declining during the quarter. In June, prices experienced further reductions due to increased imports of competitively priced goods and decreased production costs. Import volumes declined by 17.1% compared to the previous year, primarily driven by weak domestic demand. Downstream industries, including oil and gas drilling, water treatment, and pharmaceuticals, displayed low demand for Sodium Bromide, contributing to the overall bearish market sentiment. The supply chain operated at a moderate pace, and imports of the product decreased due to sufficient material availability in the domestic market. Despite a slight increase in factory activity indicated by the India Manufacturing Purchasing Managers' Index, overall demand remained low to moderate, with slow inquiries from end-use consumers. The reluctance of downstream industries to procure Sodium Bromide further dampened the demand outlook. In May, declining prices of upstream Bromine and the availability of low-priced imports impacted the market, leading to a bearish sentiment. While the supply chain remained resilient, the overall supply of Sodium Bromide was moderate to high in the domestic market. However, sluggish demand persisted as downstream industries showed reluctance to procure the product due to ample material availability. As of June 2023, Sodium Bromide prices in Asia were assessed at USD 1760 per MT on a CFR basis.

Get Real Time Prices of Sodium Bromide: https://www.chemanalyst.com/Pricing-data/sodium-bromide-1131

Europe:

The Sodium Bromide market in the Netherlands witnessed a bearish trend throughout Q2 2023, with prices declining further in June. This decline was primarily driven by a contraction in industrial activities within the region and weakened downstream demand. The manufacturing PMI dropped to 43.8 in June from 44.2 in May, indicating a deteriorating demand outlook amid uncertain economic conditions. The eurozone faced a technical recession as the GDP of major economies declined for two consecutive quarters. Additionally, inflation rates in the eurozone increased due to higher energy prices. Demand from downstream sectors such as water treatment and oil drilling remained sluggish, resulting in moderate purchases based on demand requirements. Simultaneously, production costs decreased as the cost support from upstream Bromine diminished. Supply chain operations ran smoothly, with no major congestion or constraints observed. In May, market sentiments for Sodium Bromide declined further due to the continued contraction in manufacturing activities and subdued downstream demand. The manufacturing PMI dropped to 44.2, and both new orders and export orders declined at a faster pace. Demand from downstream industries remained suppressed, resulting in lower purchases and a cautious consumer attitude. After the conclusion of Q2 2023, Sodium Bromide prices in Europe were assessed at USD 1680 per MT on an FD basis.



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