North America
In the US market, the Copper Sulphate Prices have demonstrated mixed market sentiments. Average demand from the downstream agrochemical industries pressured the market fundamentals of Copper Sulphate at the start of the first quarter of 2023. The cost support from upstream Sulphuric Acid was insufficient and did not strengthen the Copper Sulphate costs. The inflationary pressure and tight labor market have exacerbated the price concerns for the market players. The trade activities have weakened, and the prices have inched lower in mid-Q1. Furthermore, the failure of two banks based in the USA has fumed the market downturn. Overall, in late Q1, the operating rate of manufacturing firms was regular, and the flow of finished goods was unimpeded.
APAC
Throughout the first quarter of 2023, the prices of Copper Sulphate have sustained their upward trajectory in the Indian domestic market. The manufacturing activities have remained resilient owing to improved demand fundamentals from the downstream industries. The production facilities were also running at their regular rates to maintain the sales-to -inventories ratio. Due to the absence of any supply-chain bottlenecks within the time frame specified, finished goods have been actively moved. The freight charges have also decreased across Asia’s major trade routes amid the global economic slowdown. On the upstream front, the cost support from Sulphuric Acid Prices was inadequate. Consequently, Copper Sulphate (Granular) Ex- Mumbai prices were settled at INR 209500 per ton in March.
Europe
Rising inflationary pressure and sluggish procurement from the downstream agrochemical industries in early Q1 have led to a decrement in the market value of Copper Sulphate in the German market. The declining costs of upstream Sulphuric Acid have further prompted the downward pressure on the price realizations of Copper Sulphate. Although, the production costs have decreased owing to an ease in input cost inflation amid a mild winter and sufficient availability of TTF natural gas. However, in order to combat inflation, the European Central Bank has tightened its monetary policy and decreased its interest rates. Thus, the Copper Sulphate market operated at low levels at the end of the first quarter.
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