For the Quarter Ending September 2023 



North America

In the third quarter of 2023, Sodium Bisulfite rates in CFR New York displayed fluctuations, ranging between $778 and $802 per metric ton. This variability indicated a clear preference for lower price points, with an average quarterly decrease of 2.10%. The domestic market saw a decline driven by increased demand across industries, prompting sellers to gradually reduce prices. Abundant inventory levels contributed significantly to the pessimistic pricing trend in the United States. Exchange rate fluctuations between the US dollar and the Yuan increased import costs, leading to a reduction in trading activities. Despite some easing of inflation, market participants remained vigilant due to the Federal Reserve's decision to raise interest rates. Starting in July, prices notably decreased due to warehousing expenses and inventory in the United States. Additionally, a decline in the prices of the key raw material, Sulfur, in the Chinese export market further reinforced the downward trajectory of Sodium Bisulfite prices.

Asia Pacific

In the third quarter of 2023, Sodium Bisulfite prices experienced a significant increase in the Asia Pacific region. Prices rose from $435 per metric ton in July to $472 per metric ton FOB Shanghai by September, reflecting an average quarterly increase of 2.40%. China, as the world's second-largest economy, faced slower growth than expected, casting a negative shadow over the early third quarter. Factors contributing to the price increase in China included the strengthening of the Chinese Yuan, heightened local demand, and a rise in the cost of the raw material, Sulfur. Supply constraints and disruptions in the supply chain created an imbalance, putting upward pressure on prices. Towards the end of September, increased demand and inquiries, along with strategic bulk ordering, led to a surge in prices. Market participants, responding to the heightened demand, kept supplies constrained, intensifying overall demand pressures during the holiday season.

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Europe

During the third quarter of 2023, Sodium Bisulfite prices in Europe showed a consistent upward trend. As the situation stabilized and the economy recovered, German suppliers placed significant orders to replenish inventories and meet growing demand. Importing Sodium Bisulfite from Asia, particularly China, remained a viable option throughout the quarter. The devaluation of the Euro played a notable role in driving up prices in Germany, as the strong US dollar forced local businesses to pay higher prices for Chinese imports. Economic factors, including high inflation and a challenging manufacturing environment in Germany, hindered growth, causing market investors to adopt a cautious "wait-and-see" stance. The prices of the primary raw material, Sulfur, in the Chinese export market increased due to rising energy costs, supporting the upward trajectory of Sodium Bisulfite prices. In summary, importing countries likely experienced a similar price trend to those exporting Sodium Bisulfite during this period.