Market overview: In May (May 1, 2024 - May 28, 2024), Sodium Sulfate prices rose in some areas, and the transaction atmosphere was deserted. As of May 28, the mainstream transaction price of Sodium Sulfate in Jiangsu is between 430-450 yuan/ton, an increase of 10 yuan/ton from the end of last month, an increase of 2.33%; the mainstream transaction price of Sodium Sulfate in Sichuan is 300 - Around 320 yuan/ton, the price is the same as the end of last month; the mainstream transaction price of Sodium Sulfate in Shandong is between 350-370 yuan/ton, which is the same as the price at the end of last month; the mainstream transaction price of Sodium Sulfate in Hubei is 330-350 yuan / ton, the price is the same as the end of last month; the mainstream transaction price of Sodium Sulfate in Jiangxi is between 360-380 yuan/ton, the price is the same as the end of last month; the mainstream transaction price of Sodium Sulfate in Hunan is 400-420 yuan/ton. The price increased by 10 yuan/ton from the end of last month, an increase of 2.5%. The domestic market atmosphere of Sodium Sulfate is slightly dull, the sentiment of the industry is not as positive as in the previous period, and the actions are not active. At present, the Sodium Sulfate market has limited positive support, and it is difficult to promote high prices. As early orders are gradually shipped, downstream demand continues to be insufficient, and some companies have the demand to receive orders. Companies are mostly waiting and watching, and are cautious in price adjustments.
On the supply side: According to statistics from BAIINFO, the output of Sodium Sulfate this month was 644,000 tons, an increase from the previous month. Overseas demand is strong. Some companies in Jiangsu are close to full production. Coupled with the resumption of work by companies in Sichuan, the overall market supply has increased slightly. At present, many companies are operating without inventory, and production and sales are balanced. There are also some companies that focus on spot production. However, recent news has revealed that some mining companies in Jiangsu are expected to suspend production for maintenance at the beginning of next month, which is expected to last for more than half a month. Local supply may shrink. However, judging from the early inventory levels, the overall market supply is still loose.
On the demand side: The demand for Sodium Sulfate in overseas markets is still on the rise. The demand in the domestic downstream washing industry is relatively stable, and most of them have signed long-term orders with enterprises, and the enterprises deliver according to the orders. The market conditions of other downstream products are not good, and the demand for Sodium Sulfate is difficult to improve. Most of them are purchased on demand, and they are picked as needed, making it difficult to negotiate large and long-term orders. It is difficult for market demand to increase significantly in a short period of time. Domestic market demand is weak, downstream procurement efforts are poor, and companies have few new orders. It is difficult to reverse the oversupply situation in a short period of time. (BAIINFO)
