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Zirconium Silicate Prices Dip in September 2023 Amidst Construction Industry Woes
Zirconium Silicate Prices Dip in September 2023 Amidst Construction Industry Woes

Zirconium Silicate Prices Dip in September 2023 Amidst Construction Industry Woes

  • 09-Oct-2023 2:41 PM
  • Journalist: Yage Kwon

Germany: At the end of the third quarter of 2023, the cost of Zirconium Silicate continued to decline across Germany and the Eurozone area. The construction industry in Germany deteriorated during September 2023, with declines in activity and employment accelerating and a drop in work inflows. Firms highlighted the weakness in the housing sector as a significant contributing factor to this decline. Furthermore, there was a notable and accelerated decline in new orders, highlighting the tough demand conditions faced by the construction industry. Companies pointed to various factors affecting their operations, including tighter financial conditions, persistently high-cost pressures, and customer uncertainty. As a result, construction purchases remained sluggish, remaining below desired levels and indicating subdued demand for Zirconium Silicate and other construction materials in the German market.

The product supply remained sufficient, as companies had stocked up the Zirconium Silicate in the German market. However, there was a shift in sentiment among German manufacturers, who became more pessimistic about the outlook. This pessimism led to adjustments in workforce numbers, with some companies reducing their staff accordingly.

In September 2023, the price of Zirconium Silicate settled at USD 2384/MT on an FD Hamburg basis. This marked a monthly decline of 1.5% in the price of Zirconium Silicate.

On the other hand, the Italian construction sector continued to grapple with the impact of rising energy costs, which translated into increased expenses for transportation. Some respondents also cited higher oil prices as an additional factor affecting the industry. It's important to note that while these challenges persisted, the overall contraction in the Italian construction sector remained below threshold limits, as indicated by the index. This suggests that although the sector was experiencing a downturn, it was a relatively mild one, representing the softest level of contraction observed in the current series of downturns in Zirconium Silicate.

The demand for the Zirconium Silicate followed a declining trend, mainly due to reduced buying activities in the Italian market. Furthermore, export sales also experienced a notable decline, with the rate of contraction remaining consistent since August. It's worth noting that while there were contractions in both activity and demand, they showed signs of easing, and job creation continued at an accelerated rate.

The demand for Zirconium Silicate remains uncertain in the Eurozone area, primarily due to the prolonged deterioration in the construction sector. The level of optimism within the Zirconium Silicate is expected to decline in the coming months due to the ongoing decline in construction activity.

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