Sodium Citrate Prices Trend and Forecast

North America

In the first quarter of 2023, the Sodium Citrate Dihydrate market prices demonstrate an increment trend in the North American region. During the start of Q1, prices surged by around 4 percent, supported by significant surge in downstream inquiries and surge in demand from the pharmaceutical and food sectors. Additionally, after the end of New Year’s festivities, market participants focused on placing fresh orders and increased the prices for remaining supplies in the domestic market. Besides this, imports from China surged considerably, which additionally kept the prices on the upper end. With this, the prices recorded during the month of February were settled at USD 1245/MT CFR Los Angeles.

Asia

The Sodium Citrate prices throughout the first quarter of 2023 in the Asia Pacific region, primarily in China, demonstrate an upward trajectory. This price trend was attributed to a sudden rise in inquiries from international and domestic markets. As with the start of January, the manufacturers increased their production capacity because of the arrival of CNY (Chinese New Year) to prevent the shortage or delay of shipments and stockpile their stocks to meet the overall local requirements. Furthermore, the Chinese markets remained optimistic in accordance with the improved trade activity and demand dynamics over the course of the month. The increase in container logistics indicates that the downward trend has finally come to a halt, which is promising for many players who export to foreign markets as production has started to rise considerably. At the termination of Q1 2023, the price for Sodium Citrate Dihydrate was recorded at USD 855/MT FOB Shanghai during February.

Europe

In the European region, the prices of Sodium Citrate Dihydrate mimic the trend of China during the first quarter of 2023. At the beginning of the first month of Q1, the prices witnessed an increment of 6 percent due to a sudden surge in inquiries from customers coupled with moderate stocks. Ease in trade activity, along with a slowdown in inflation, further influenced the overall market trend throughout Q1. However, orders from end-user industries remained on the upper side until the end of Q1, keeping demand strong and propelling the traders and local merchants to maintain their shelves. With this, the prices for Sodium Citrate Dihydrate during the month of February were recorded at USD 1345/MT CFR Hamburg.

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