According to the monitoring of SunSirs, the overall price of domestic sodium metabisulfite in March was slightly stronger, with the average price of industrial grade sodium metabisulfite being 2,400.00 RMB/ton on March 1 and 2,416.67 RMB/ton on March 31, a slight increase of 0.69% during the month.
Analysis review
In early March, the overall increase in domestic soda ash prices remained stable, and sulfur prices continued to rise. Supported by the continued upward trend in raw material costs, manufacturers again slightly increased the ex-factory price of sodium metabisulfite, driving the domestic market price of sodium metabisulfite to operate slightly stronger at the beginning of the month. In mid March, the price of soda ash fell slightly, while the price of sulfur decreased slightly after stabilizing. The overall price of upstream raw materials fell after rising. The downstream procurement of sodium metabisulfite was more cautious, and the cost fell slightly after rising. The domestic market price of sodium metabisulfite remained stable and forward.
In March, the domestic soda ash price was slightly weaker, with a slight decrease of 0.72% in the month. The sulfur price rose first and then fell, and fluctuated and fell by 3.85% in the month. After the price rise of upstream raw materials stabilized, they fell slightly, and the cost will form a certain pressure on the domestic market price of sodium metabisulfite in April.
Market outlook
Analysts from SunSirs believe that the upstream raw material cost rose first and then fell back, while the downstream trading entities increased their wait-and-see attitude. It is expected that the domestic market price of sodium metabisulfite in April will fall slightly following the raw material cost, and the overall price will fluctuate forward after a slight decline.
