Taurine Prices Likely to Showcase Pessimistic Trend in April 2023

Taurine prices are expected to decline all over the world by the beginning of the second quarter of 2023 due to several factors, including steady demand, sufficient supply, consumer confidence, and greater trade activity.

The prices of Taurine feed grade are anticipated to decline further this month in the Chinese market following the previous month's declining trend. The fact that manufacturers and suppliers who had sufficient inventory on hand chose to continue with cost-cutting measures to clear out their stocks to destock them in the second quarter of 2023 may have reinforced this price trend. Following declining inquiries, the Taurine market remained poor due to cheap manufacturing costs on both the domestic and international markets.

Moreover, the upstream Sulphur market has recently experienced a small decline, and the cost support is insufficient from the standpoint of the upstream and downstream industrial chains. The discrepancy between supply and demand propelled the downstream customers to reduce buying sentiments for feed Sulfuric Acid, and the product trend plummeted, further weakening the Taurine market. At the beginning of next month, market participants anticipate offering Taurine products at a price higher than planned to make up for their losses, according to the most recent sources. Additionally, in response to demands from both domestic and foreign markets, manufacturers will likely focus on their production activities. Taurine prices have decreased both last month and this month because the products are sold at prices near their cost of manufacture to clear the current supply.

The Taurine market follows a similar depreciation trend in both the US and German markets. Taurine prices were also low since trading activities were straightforward and freight expenses were negligible. However, more international inquiries are predicted in the upcoming months, which may boost customer confidence and enable domestic retailers to increase the price of Taurine in their regional marketplaces.