In the concluding month of the third quarter of 2024, the Magnesium Sulphate market showcased bearish sentiments in the European region. The market players negatively revised their quotations to improve offtakes amid increased inventory levels in the regional market. Magnesium Sulphate orders were low from the buyers. Buyers were cautiously making purchases as the Consumer Price Index (CPI) for the Euro Area rose by 1.8% in September 2024, down from 2.2% in August, indicating an increase and reflecting a continued upward trend in consumer prices. The overall trend suggests a moderating inflation environment, reflecting changing economic conditions and potentially influencing consumer purchasing power and monetary policy decisions.

The consumption rates were stable by the beauty and personal care product manufacturers. Beiersdorf's stock hit a temporary peak by mid-2024, driven by robust first-quarter results in its Consumer Business Segment and the declaration of an increased dividend. EBIT (excluding special factors) was 838 million Euro, a decrease from 852 million Euros, with a margin of 16.2% compared to 17.3% the previous year. The Consumer Business Segment grew organically by 8.0%, with nominal sales rising 5.4% to 4,331 million Euros.

At the same time, the Magnesium Sulphate inventory levels rose in the regional market as European Exports decreased in September 2024. However, most trades have seen considerable increases or substantial decreases, with a notable distinction between those affected by the situation in the Red Sea, which has experienced rising rates, and other trades into Europe that have declined. Additionally, in September 2024, Magnesium Sulphate key feedstock Magnesium Oxide production showed a slight month-on-month increase in the key exporter China. However, the market remains stagnant due to low downstream demand, leading to bearish sentiment and limited price increases. Simultaneously, the end of disputes in Libya and the resumed exports from the country improved the availability of the upstream Sulphur and feedstock Sulphuric Acid supplies. It negatively impacted the upstream cost support on production costs of Magnesium Sulphate. 

According to the ChemAnalyst data sources, the Magnesium Sulphate FOB Hamburg quotations in Germany witnessed USD 573/MT at the end of the third quarter of 2024.

As per the estimation, the Magnesium Sulphate prices would decrease in the European region at the beginning of the final quarter of 2024. The demand for Magnesium Sulphate might remain stable in the agriculture and horticulture sector. At the same time, the Magnesium Sulphate production rates would increase in the region before the beginning of peak winter. Furthermore, the anticipated decline in operational costs due to the decrease in feedstock Magnesium Oxide prices would negatively impact the final prices of Magnesium Sulphate.