Price trend
According to the commodity market analysis system of SunSirs, the price of domestic sodium metabisulfite stopped falling and slightly rebounded in November. The average price of industrial grade sodium metabisulfite on November 1st was 2,450.00 RMB/ton, and on November 30th it was 2,333.33 RMB/ton, a decrease of 4.76% within the month.
Analysis review
Entering November, the prices of upstream raw materials continued to decline, and under the pressure of weak raw material costs, the domestic industrial grade sodium metabisulfite market price continued to decline weakly in early November, falling overall to the range of 2,100-2,300 RMB/ton.
In the middle of the month, the overall price of upstream raw materials fluctuated and stabilized, and the domestic market price of sodium metabisulfite continued to stabilize and move forward. Starting from mid to late November, the price of soda ash had bottomed out and rebounded significantly, while the price of sulfur had continued to rise. The cost of raw materials had rebounded significantly, and the inventory of manufacturers had continued to decline. Under the downstream buying mentality, the willingness to stock up had increased significantly, and the cost of raw materials continued to rise. Supported by the rebound in downstream demand, the price of sodium metabisulfite in the domestic market had continued to rise.
In November, domestic soda ash prices bottomed out and rebounded, rising by 3.25% within the month. Sulfur prices continued to rise, rising by 13.07% within the month. Upstream raw material prices continued to rise, and rising costs will further support the market price of sodium metabisulfite in the future.
Market outlook
Analysts from SunSirs believe that with the dual support of cost and demand, it is expected that there is still some room for a rebound in the domestic sodium metabisulfite market price in November.
