Hamburg, Germany:The rising cost of raw materials has been hampering offtakes of several commodities, including almost all the silicates in the global market. As per the latest ChemAnalyst analysis, Calcium Silicate prices have risen across the global market on the back of rising raw material costs coupled with logistics issues.

The data shows a significant hike of 1.5% to 2% across Asia and Europe during the month of May 2022, while the offtakes remained stable in the regional market.

As per the data, China has witnessed a hike of around 2% due to ongoing supply disturbance against pandemic-related uncertainties in the country. Meanwhile, demand fundamentals for the product from downstream industries as an anticaking agent remained active, despite all the odds.

As per the ChemAnalyst sources, cargoes were getting delayed across the domestic market due to lockdown, while rising inflationary pressure kept on pressuring manufacturers to keep on revising their offers. However, manufacturers remained anxious about price increases, as they must increase their product prices without impacting offtakes from niche buyers.

Meanwhile, ChemAnalyst’s Germany data shows a hike of around 1.6% during May, primarily driven by a hike in raw material cost and prolonged inflationary pressure. Even though the Russo-Ukrainian war has impacted the overall market dynamics of several commodities, the Calcium Silicate market remained barely impacted by this ongoing conflict. However, the indirect impact of rising raw material costs due to high energy prices and rising transportation costs remained a major factor behind this price increment.

As per the ChemAnalyst analysis, prices are expected to remain buoyant for forthcoming months, as the demand fundamentals for the product are unlikely to decline in the global market. Further, the effect of inflation will also take time to vanish from the current market.