Sodium Tetraborate Prices See Global Surge in May's First Half, 2024

Throughout the first half of May 2024, Sodium Tetraborate prices maintained a consistent upward trend globally. In countries across the US, Europe, and the Asia-Pacific region, prices continued to rise steadily.

In the US market, the first half of May saw a continuation of the upward trend in Sodium Tetraborate prices observed in April 2024, with prices increasing by approximately 1.5% after a surge of over 2% in the previous month. This growth in Sodium Tetraborate prices was fueled by heightened downstream demand and support from the feedstock side. Improved manufacturing costs and inflationary pressure were key drivers behind April's price rise, evident in the notable surge in the Industrial Chemical Producer Price Index (PPI) from March to April, leading to higher production costs for Sodium Tetraborate. Consequently, producers adjusted prices upwards to protect profit margins, impacting consumer costs. April also experienced a significant inflationary pressure, reaching 3.8%, compared to 2.32% in March and around 10% compared to the previous year, likely affecting input costs and consumer purchasing power, thus contributing to observed fluctuations in Sodium Tetraborate prices.

In the early days of May, the European Sodium Tetraborate market continued its upward trajectory, with prices increasing by approximately 1.1%. This positive movement followed a stable trend in April 2024 when the market demonstrated equilibrium, with supply and demand well-balanced. Amidst global volatility, Europe maintained stability through effective inventory management and consistent import-export activities. This ensured that Sodium Tetraborate supply met demand without significant price fluctuations, indicating a harmonious relationship between suppliers and buyers.

At the beginning of the month, Sodium Tetraborate prices in the Chinese market surged by approximately 1.4%. Previously, the market had been experiencing a downward price trend. In April 2024, sodium tetraborate prices in the Chinese market experienced a slight decline of around 0.5%, primarily due to a marginal decrease in ore prices and reduced marine freight charges. This reduction in global marine freight charges was driven by expectations of eased tensions in the Middle East, leading to slightly lower import prices for Boron ore from Turkey. During this period, Sodium Tetraborate supply increased, maintaining low prices, signaling continuous production and strong manufacturing. China's NBS reported a production index rise to 52.9%, indicating increased manufacturing activity. Despite a slight drop in new orders, demand remained robust, especially domestically, with reduced exports to Europe. NBS data showed a new order index decline to 51.1%, reflecting ongoing manufacturing demand recovery.

In conclusion, analysts anticipate a continued increase in Sodium Tetraborate prices for the remainder of the month, driven by factors such as downstream demand, freight costs, and the nation's economic conditions.