SunSirs: Sodium Metabisulfite Prices Continued to Rise This Week (August 2-6)

　　Price trend

　　According to the monitoring of SunSirs, the domestic price of sodium metabisulfite continued to rise this week. The average price of industrial-grade sodium metabisulfite at the beginning of the week was 2,266.67 RMB/ton, and the average weekend price was 2,350.00 RMB/ton, an increase of 3.68% during the week.

　　Analysis review

　　The overall market performance of sodium metabisulfite market performed well this week. The market price of industrial-grade sodium metabisulfite was in the range of 2,300-2,500 RMB/ton, and most prices were concentrated in the vicinity of 2,300-2,400 RMB/ton. The cost of raw materials continued to rise. Under its support, after entering August, manufacturers successively increased the ex-factory price of sodium metabisulfite, driving the domestic market price of sodium metabisulfite to continue to rise. With the support of downstream rigid demand, the company’s production was stable, focusing on fulfilling orders from old customers.

　　This week, domestic soda ash prices remained stable at a high level. Sulfur prices rose by 1.21%. The prices of upstream raw materials continued to rise. The continued high raw material costs will further support the market price of sodium metabisulfite in the future.

　　Market outlook

　　SunSirs analysts believe that under the dual support of cost and demand, the domestic market price of sodium metabisulfite still has room to rise in the short term.