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

Sodium Silicate Prices: During the Quarter Ending December 2023

North America:

During the fourth quarter of 2023, the Sodium Silicate market in North America saw a rise in prices, driven by costly imports from Asian markets. The increase in the US non-manufacturing Purchasing Managers' Index (PMI) from October signaled growth in the construction sector, boosting demand for Sodium Silicate. This sustained uptick in business activity supported a positive momentum in construction, maintaining the upward price trend of Sodium Silicate throughout the quarter.

Furthermore, escalating shipping charges from Asia to the US, influenced by conflicts involving Houthi Armed forces in the Red Sea area, added to the cost pressure. Despite moderate construction activity in December, with housing playing a vital role, stable construction spending amid increased borrowing costs was observed. However, the manufacturing sector faced persistent challenges.

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The constrained supply from China, alongside elevated product prices, impacted the US market. Disruptions in shipping routes in the Red Sea, linked to tensions from the Israel-Gaza conflict, and obstacles to container transport through the Panama Canal, due to lower water levels, contributed to increased freight costs in the overseas market.

APAC:

In the fourth quarter of 2023, the Sodium Silicate market in the Asia-Pacific (APAC) region displayed a mixed price pattern. October witnessed a notable decline in Sodium Silicate prices, primarily due to stagnant new orders from the construction industry. Despite a decrease in the manufacturing index, which remained above the limit, reduced activity in the service sector and construction indicated demand weakness, associated with a housing market slowdown and infrastructure spending deceleration in various Chinese regions.

However, during the mid and final months of the quarter, prices surged due to raw material cost pressures. This upward pressure influenced Sodium Silicate prices across the APAC region, even amidst declining downstream activities. Despite construction sector challenges, raw material cost dynamics significantly shaped the Sodium Silicate market during the latter part of the fourth quarter.

Europe:

In the fourth quarter of 2023, the Sodium Silicate market in Europe exhibited a mixed price pattern. October saw a continued decline in Sodium Silicate prices, primarily due to weak demand from the construction industry. Production challenges in the German manufacturing sector, stemming from reduced new orders, affected production levels.

Companies noted customers actively reducing inventories and delaying investments due to uncertainties and elevated interest rates. Despite declining downstream activities, limited availability and raw material cost pressures drove product costs up. Additionally, imported cargo from Asian markets reflected elevated prices in Germany.

Towards the end of the quarter, prices decreased as the year concluded, with the overseas market destocking material at affordable prices, contributing to the overall downward price movement. Reduced workloads in December prompted construction firms to downsize staff and cut back on purchases.

Get Real Time Prices of Sodium Silicate: https://www.chemanalyst.com/Pricing-data/sodium-silicate-1340

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