Sodium Bisulfite Prices Likely to Remain Optimistic Across the Globe Throughout Q2 2023

The prices for Sodium Bisulfite in the US market showed an increased trend throughout March 2023 due to changing market dynamics. The US Sodium Bisulfite market has remained strong in March, impacted by insufficient supply and consistent consumption compared to 2022 peaks. Following relatively increased sales volumes in the first quarter of 2023, regional stockists and distributors prognosticate a convincing demand outlook. As a result, downstream food additive and cosmetic product output continue to be at a satisfactory level, as the market players anticipate.

According to our sources, apparent Sodium Bisulfite demand in the region has gained highs, with mostly hand-to-mouth bookings reported lately. Also, the prices for Feedstock Sulfur rose sharply in the Chinese provinces affecting the market situation in other nations, including US and Europe. Supported by this, the production cast has increased by many folds, propelling the manufacturers to increase the Ex-factory prices of Sodium Bisulfite. Despite the global economic recession, the Chinese economic recovery is keeping the prices of most raw resources high. Moreover, most commodities prices are anticipated to stay above their pre-Covid levels, partly due to rebounding consumer buying sentiments. In addition, the Sodium Bisulfite inventory was relatively low among the suppliers keeping the hand-to-mouth market situation.

Similar to this, the cost of Sodium Bisulfite grew steadily in the United States throughout the first quarter of 2023. From the beginning of the first quarter of 2023, the Consumer Price Index has risen by 0.5%, indicating a beneficial trend for Sodium Bisulfite on the back of the stable demand-supply side of the market. Market participants have been able to raise their pricing as a result and focus on placing more orders. The general increase in the price of Sodium Bisulfite throughout the domestic and international markets was further encouraged by the rise in the price of energy and the ongoing easing in trade activity through the end of this quarter.

ChemAnalyst believes that the price trajectory of Sodium Bisulfite will remain steady over the following week and months as a result of the ongoing downstream inquiries from the textile, cosmetic, and food industries. The majority of industry participants believe that the Sodium Bisulfite price and demand situation will remain favorable during Q2 2023.