citric acid
The market price of citric acid went down in many places, and the quotations of various parties were different. The price of citric acid also fell unstoppably, and the price opened a downward channel.
The decline in the price of citric acid is mainly affected by the sluggish demand. From the perspective of the domestic market, the downstream demand for citric acid in my country is not high. It is currently in the off-season of the industry, and the recovery of market demand is not as good as expected. The start-up of downstream food and beverage processing plants is still at a low level, and the previous inventory or just-needed purchases are mainly digested. At present, the inventory of enterprises is gradually accumulating, and traders also hold a large amount of inventory for sale. The market demand is sluggish, and the supply exceeds demand. It is inevitable that the price of citric acid will go down.
From the perspective of foreign markets, the impact of the news of the Fed’s interest rate hike has led to heightened concerns about the economic recession in the market, superimposed on the Silicon Valley Bank incident, and the negative impact of macroeconomics on commodities has once again escalated. The main reason is that the traditional peak export season of citric acid has passed, and the industry has entered the off-season, the export signings have decreased significantly, and the export volume has dropped.
In the off-season of traditional demand, it is expected that the price of citric acid will continue to decline in the short term, and then run steadily at a low level.
Soda ash
The domestic soda ash market price remained stable. The operation of the device is stable, the inventory of enterprises remains low, and the downstream maintains just-needed replenishment, and the mood is cautious. It is expected that the price of soda ash will be stable and fluctuate in the short term.
There is no major contradiction in the soda ash spot market. There are many disturbance factors on the market, but the pessimism has been significantly eased. After the macro sentiment stabilizes, the soda ash futures price will return to the fundamentals. The contract supply in recent months still exists, and the intraday operation is mainly strong.
Post time: Mar-23-2023