Sodium Bromide Prices Trend, Monitor, News, Analytics and Forecast | ChemAnalyst

Sodium Bromide Prices: During the Quarter Ending December 2023

North America:

During the fourth quarter of 2023, the Sodium Bromide market in the USA exhibited mixed sentiments influenced by various factors. Initially, prices declined due to a bleak demand outlook and reduced quotations from major exporting nations such as Israel, China, and Jordan. Moreover, consumption rates remained subdued due to surplus inventories in the domestic market.

In November, heightened consumer spending and increased market activities contributed to an overall economic improvement. However, downstream industries faced only modest demand. Despite concerns about a potential economic downturn, inflation, and geopolitical uncertainties, consumer confidence in the United States rose during both November and December, signaling optimism about future business conditions.

Additionally, destocking practices were prevalent in December, driven by consumer reluctance to maintain surplus inventories. Concurrently, year-end holidays traditionally led to reduced industrial activity, prompting manufacturing firms to either slow down or temporarily halt operations, exacerbating the drop in demand.

Get Real Time Prices of Phosphonate: https://www.chemanalyst.com/Pricing-data/sodium-bromide-1131

APAC:

In the fourth quarter of 2023, the Sodium Bromide market in the APAC region demonstrated a mixed performance influenced by various factors affecting prices and market dynamics. Initially, the market witnessed a moderate supply chain with steady imports. Despite moderate demand from industries such as water treatment and pharmaceuticals, overall demand was not as robust as anticipated, leading to a slightly bearish market trend. Sufficient regional inventories further dampened Sodium Bromide demand.

Fluctuations in currency exchange rates, notably the depreciation of the Indian Rupee against the US Dollar, impacted Sodium Bromide pricing in India, where prices experienced a slight decrease. No plant shutdowns were reported during this period. In India, Sodium Bromide prices in the fourth quarter of 2023 witnessed a slight decrease compared to the previous quarter, with the current price standing at USD 1705/MT CFR JNPT Mumbai, indicating a bearish trend for Sodium Bromide in India.

Europe:

The Sodium Bromide market in Europe faced challenges in the fourth quarter of 2023. Initially, decreased demand from downstream water treatment and oil drilling sectors resulted in sluggish inquiries and lower consumption. Production costs increased due to fluctuating natural gas prices and an uptick in the upstream Hydrobromic acid market, exerting pressure on Sodium Bromide pricing.

Overall market sentiment remained bearish, with limited inventories and low manufacturing rates indicating a lack of confidence. In the Netherlands, a significant player in the European Sodium Bromide market, pricing trends reflected industry challenges. Sodium Bromide prices in the country declined by 6% compared to the previous quarter of 2023, with a further 5% decrease between the first and second halves of the quarter. Weak demand, increased production costs, and low market sentiment contributed to this decline, with the quarter ending at a price of USD 1580/MT of Sodium Bromide FD Rotterdam in the Netherlands.

Get Real Time Prices of Phosphonate: https://www.chemanalyst.com/Pricing-data/sodium-bromide-1131

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