Sodium Nitrate Prices: Trend, Demand & Supply, Market Analysis | ChemAnalyst
For the Quarter Ending September 2023 North America In the third quarter of 2023, there was an uptick in CFR New York rates for Sodium Nitrate , rising from $725 to $800 per metric ton. This increase positively impacted the overall outcome for the quarter, reflecting a clear preference for higher pricing levels with an average quarterly uptrend of 2.08%. Initially, prices decreased at the beginning of Q3 due to weak nitric acid prices, a crucial raw material. However, by August, the domestic Sodium Nitrate market in the United States showed improvement, fueled by heightened demand across various industries. The shift from limited to moderate inventory levels prompted sellers to incrementally raise prices each month, contributing to an optimistic price trend. Additionally, fluctuations in exchange rates between the US dollar and the Yuan resulted in increased import costs in the latter part of the quarter. While inflation slowed somewhat in Q3 due to significant changes...