For the Quarter Ending June 2023

North America:

In Q2 2023, the US Sodium Bromide market experienced a bearish trend as prices declined throughout the quarter. The drop in prices was influenced by various factors, including reduced demand from downstream industries such as water treatment and oil drilling, as well as increased imports of lower-priced goods. The sluggish demand led to fewer purchases and a lack of market support, making it challenging for suppliers to maintain price levels. Additionally, the availability of cheaper imports put pressure on the domestic market, further impacting price dynamics. Economic uncertainties and weak demand outlook also contributed to the overall market sentiment. By the end of Q2 2023, Sodium Bromide prices in the US were assessed at USD 1950 per MT on a FOB basis.

APAC:

The Indian Sodium Bromide market witnessed a bearish trend in Q2 2023, with prices declining throughout the quarter. Imports of low-priced goods and reduced production costs further contributed to the drop in prices in June. Weak domestic demand, especially from industries like oil and gas drilling, water treatment, and pharmaceuticals, played a significant role in the overall bearish market sentiment. While the supply chain operated at a moderate pace, imports of Sodium Bromide declined due to sufficient material availability in the domestic market. Despite a slight increase in factory activity, the overall demand remained low to moderate, as inquiries from end-use consumers were slow. The reluctance of downstream industries to procure Sodium Bromide due to ample material availability further dampened the demand outlook. As of June 2023, Sodium Bromide prices in Asia were assessed at USD 1760 per MT on a CFR basis.

Get Real Time Prices of Sodium Bromide: https://www.chemanalyst.com/Pricing-data/sodium-bromide-1131

Europe:

The Sodium Bromide market in the Netherlands experienced a bearish trend in Q2 2023, with prices declining further in June. The contraction of industrial activities and weaker downstream demand were the main factors driving this price drop. Uncertain economic conditions, reflected in a slip in the manufacturing PMI and a technical recession in the eurozone, contributed to the worsening demand outlook. Inflation rates also rose due to higher energy prices. Despite smooth supply chain operations, the sluggish demand from water treatment and oil drilling industries resulted in moderate purchases based on demand requirements. Production costs decreased as the cost support from upstream Bromine dwindled. In May, market sentiments declined further due to a contraction in manufacturing activities and subdued downstream demand, leading to lower purchases and a cautious consumer attitude. After Q2 2023, Sodium Bromide prices in Europe were assessed at USD 1680 per MT on an FD basis.