Magnesium Acetate Tetrahydrate Prices: In the second Quarter of 2023

North America:

In the second quarter of 2023, the US market witnessed volatility in Magnesium Acetate Tetrahydrate prices. Overall, prices experienced a significant decline, although the latter months of Q2 2023 exhibited signs of easing market conditions due to intermittent fluctuations between supply and demand throughout the month. Market trading fundamentals were influenced by weak demand and elevated inventories. Retailers grappled with excess inventory ordered to meet the surge in demand during the epidemic, despite stagnant demand. Recent months also saw a decrease in energy costs, reflective of a global economic slowdown, with falling oil prices further supporting the downward trajectory of Magnesium Acetate Tetrahydrate. Late June saw a rise in Magnesium Acetate Tetrahydrate prices in the US market, primarily driven by increased demand. Emerging challenges such as rising interest rates, escalating living costs, and declining personal savings are projected to slow down the economic rebound in the upcoming months. Signs of weakened foreign demand are evident across various sectors.

Asia:

The Asia-Pacific market for magnesium acetate tetrahydrate exhibited mixed trends in Q2 2023. By the end of Q2 2023, the price demonstrated a quarterly average decline of 0.73%. A weak demand outlook coupled with ample supply exerted downward pressure on prices at the start of the second quarter. Midway through the quarter, the magnesium acetate tetrahydrate market observed significant price hikes, attributed to increased domestic and international orders. China’s exports continued to surpass both domestic and foreign demand, outperforming market expectations. Certain factors, including production disruptions in China and the ongoing conflict in Ukraine, constrained the supply of magnesium acetate tetrahydrate, contributing to price hikes. Towards the quarter’s end, the price fluctuated with notable declines. Suppliers reduced prices to diminish existing inventories, mainly due to extensive stocks of magnesium acetate tetrahydrate. Additionally, reduced sales in end-use sectors and a lack of new inquiries from domestic and overseas buyers contributed to this price contraction.

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

Europe:

The second quarter of 2023 saw a decrease in overall demand for Magnesium Acetate Tetrahydrate in Europe, resulting in lower market prices. Weak demand from the food and beverage sector, reduced demand from the oil and gas industry, and increased supply collectively influenced the market’s downward trajectory. German prices for Mg. Acetate Tetrahydrate declined in April due to lower raw material imports from exporting nations like China, combined with chronically feeble demand from downstream industries. Additionally, tariffs between China and Europe returned to pre-pandemic levels, leading to reduced congestion and lower sea freight costs, both of which affected the market landscape. Domestic supply abundance and diminished demand across domestic and international markets contributed to the decreased commodity prices. Increased production capacity in India, a major Mg. Acetate Tetrahydrate producer, bolstered global supply. However, the deceleration of the global economy dampened demand for Magnesium Acetate Tetrahydrate. Speculators selling Magnesium Acetate Tetrahydrate futures in anticipation of future price drops also exerted downward pressure on prices.