For the Quarter Ending June 2023
North America

In the second quarter of 2023, the US market experienced fluctuations in the prices of Magnesium Acetate Tetrahydrate. Prices saw a significant decline overall, but towards the end of Q2, there were signs of market conditions easing due to sporadic fluctuations in supply and demand. Weak demand and high inventories had an impact on market trading fundamentals. Retailers faced challenges with excess inventory ordered during the epidemic, despite stagnant demand. The falling energy costs and oil prices further contributed to the downward trend in Mg. Acetate Tetrahydrate prices. However, prices rose in late June mainly due to increased demand. Looking ahead, rising interest rates, increasing living costs, and declining household savings are expected to slow down the economic upswing in the coming months, and weakness in foreign demand can be observed in various sectors.

Asia

The Asia-Pacific region witnessed mixed trends in the magnesium acetate tetrahydrate market during Q2 2023. By the end of the quarter, prices had declined by an average of 0.73%. The market started with a decrease in prices due to weak demand and ample supply. However, there was a significant increase in production rates midway through the quarter to replenish inventories and meet future demand. This led to substantial price increases as domestic and international orders surged. China's exports outperformed both domestic and foreign demand, exceeding market expectations. Limited production due to factors like production interruptions in China and the ongoing war in Ukraine also contributed to price increases. Towards the end of the quarter, prices fluctuated with significant declines as suppliers reduced prices to clear excess inventories. The decrease in sales in the end-use field and a lack of new inquiries from suppliers further impacted the price decline.

Get Real Time Prices of Magnesium Acetate Tetrahydrate: https://www.chemanalyst.com/Pricing-data/magnesium-acetate-tetrahydrate-1526

Europe

The second quarter of 2023 witnessed a decline in overall demand for Magnesium Acetate Tetrahydrate in Europe, resulting in lower market prices. Weak demand from the food and beverage industry, slowing demand from the oil and gas sector, and increased supply were key factors influencing the market. German prices for Mg. Acetate Tetrahydrate fell in April due to lower raw material imports from exporting countries like China and chronically weak demand from downstream industries. Tariffs between China and Europe returning to pre-pandemic levels and improved congestion significantly reduced sea freight costs, impacting the company's position. The availability of domestic supply and lower demand in domestic and international markets also played a role in impacting commodity prices. The increased production capacity in India, the world's largest Mg. Acetate Tetrahydrate producer, further added to the global supply. However, the slowdown in the global economy resulted in reduced demand for Magnesium Acetate Tetrahydrate. Speculators selling Magnesium Acetate Tetrahydrate futures in anticipation of future price declines also put downward pressure on prices.



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