SunSirs: Sodium Metabisulfite Prices Rose Sharply This Week (September 20-24)

　　Price trend

　　According to the monitoring of SunSirs, the domestic price of sodium metabisulfite rose sharply this week. The average price of industrial-grade sodium metabisulfite at the beginning of the week was 2,773.33 RMB/ton, and the average weekend price was 3,083.33 RMB/ton, an increase of 12.80% during the week.

　　Analysis review

　　After the Mid-Autumn Festival holiday, supported by the continued high rise in raw material costs and the continued low inventories of manufacturers, manufacturers once again raised the ex-factory prices of sodium metabisulfite, which drove the domestic sodium metabisulfite market prices to rise sharply in late September. This week, the domestic industrial-grade sodium metabisulfite market price ranged between 2,800-3,500 RMB/ton, and most prices were concentrated around 3,000-3,100 RMB/ton. Enterprise inventory continued to be low, the overall supply of sodium metabisulfite market was tight, and enterprises mainly completed orders from old customers.

　　From early September to 24th, domestic soda ash prices rose by 22.7% at a high level, domestic sulfur prices rose by 1.56%. The prices of upstream raw material prices rose sharply, and the continued high cost upward movement played a strong supporting role in the domestic sodium metabisulfite market price.

　　Market outlook

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