For the Quarter Ending September 2023

North America

During the third quarter of 2023, Sodium Thiocyanate prices in the US market experienced a decline due to subdued demand in the domestic chemical intermediate segment. Demand fundamentals for the product remained low, and downstream sectors struggled to show improvement, hampered by a prolonged labor shortage in the country. Despite falling prices of Dye and pigment-related raw materials in the market, Sodium Thiocyanate was not an exception. The Producer Price Index (PPI) rose from 235.094 in July to 235.795 in August, impacting the overall recovery. In the latter half of Q3 2023, the US Sodium Thiocyanate market achieved price stability, attributed to unchanged demand from the downstream pigment sector and a consistent domestic supply throughout the month.

Asia

The Sodium Thiocyanate price trend in the Asian market remained bearish throughout the quarter due to a sudden increase in supplies amid low regional demand. Prices in China and India both declined by around 10% during the third quarter of 2023. Import of the product in India from China increased by around 150% in the middle of the quarter but declined by 30% by the quarter's end. The surge in supplies during the middle of the quarter significantly impacted product availability in India, leading to a reduction in queries for September. Consequently, product prices continued to fall, while Chinese domestic consumption remained lackluster, defying the positive pricing trend observed in several other chemical commodities according to the data released by NBS China.

Get Real Time Prices of Sodium Thiocyanate: https://www.chemanalyst.com/Pricing-data/sodium-thiocyanate-1547

Europe

Sodium thiocyanate prices in the European market witnessed a decline in July and August, primarily attributed to subdued economic prospects and lackluster demand. Low exports from Asian traders to Europe during this period, due to plummeting consumption, further affected profitability. These factors collectively influenced market sentiment for Dye and pigment-related raw materials across Europe. Notably, industrial activities within the region demonstrated resilience, with the Industrial Production Index improving from -1.3% in July to 0.6% in August 2023, as indicated by Eurostat. However, regional economic activities, particularly in Germany, remained relatively stable and subdued. Data from Deutsche Bundesbank Eurosystem revealed that producer prices of industrial products on the domestic market held steady at 147.1 in September after a revision from 147 in July.

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