According to the Commodity Market Analysis System of SunSirs, the price of domestic sodium metabisulfite continued to be weak this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2,233.33 RMB/ton, and the average price at the weekend was 2,216.67 RMB/ton, with a decrease of 0.75% during the week.
Analysis review
Entering November, the prices of upstream raw materials continued to decline, and under the low cost system, the domestic industrial grade sodium metabisulfite market price fell again this week, overall falling to the range of 2,100-2,300 RMB/ton. The inventory of enterprises was relatively sufficient, and the overall supply of sodium metabisulfite market was stable. Enterprises mainly completed orders from old customers.
As of November 10th, domestic soda ash prices had continued to decline, falling by 16.26% during the month, while sulfur prices had slightly rebounded, rising by 2.83% during the month. Overall, the overall cost of raw materials once again declined, and the continued decline in costs will further suppress the market price of sodium metabisulfite in the future.
Market outlook
Analysts from SunSirs believe that raw material costs are fluctuating and declining, and the domestic market price of sodium metabisulfite will continue to be under pressure in the short term.
