According to the monitoring of SunSirs, the domestic price of sodium metabisulfite continued to rise in July. The average price of industrial-grade sodium metabisulfite on July 1 was 2,100.00 RMB/ton, and the average price on July 30 was 2,266.67 RMB/ton, a sharp increase of 7.94%.
The overall performance of the sodium metabisulfite market in July was acceptable. The centralized maintenance in the early stage resulted in the overall low domestic sodium metabisulfite inventory. At the same time, the upstream raw material prices continued to rise and after the manufacturers resumed production, the continuous increase of ex-factory prices within the month led to the continuous increase of domestic sodium metabisulfite market prices.The unabated downstream demand further supported the market price of sodium pyrosulfite. At the end of the month, the market price of industrial-grade sodium metabisulfite was in the range of 2,200-2,500 RMB/ton, and most prices were concentrated in the vicinity of 2,300-2,400 RMB/ton.
In July, domestic soda ash prices rose sharply again by 13.58%, sulfur prices rose 0.2% in the month, upstream raw materials prices continued to rise, and the continued increase in costs would further support the domestic sodium metabisulfite market prices in the future.
SunSirs’analysts believe that the cost of raw materials is high and the downstream demand remains unabated. The domestic market price of sodium metabisulfite is expected to continue to rise in August.