As per the recent ChemAnalyst’s analysis, global Silica prices have also started feeling the heat of inflationary pressure and the ongoing global crisis. As per the recent data, Belgium, USA, and Saudi Arabia have showcased a positive price increment during May 2022 owing to stable demand fundamentals amidst global inflation.

ChemAnalyst data shows an increment of around 2% in Belgium during May 2022, on the back of stable demand from the domestic market amidst prolonged inflationary pressure hovering across the trader’s head. As per the ChemAnalyst market sources, it has been observed that rising domestic freight cost has pressured them to raise their product prices.

Meanwhile, in the USA, rising gasoline prices have affected the domestic transportation cost, raising concern over inflation and pressuring traders’ margins. However, the US construction sector has been facing a steep rise in the price of raw construction material, which has repelled builders from procuring more cargoes.

Similar market sentiments have been observed in Saudi Arabia, where the price has risen by 2% across the domestic market, owing to inflationary pressure on consumers. Since the Russia Ukraine war has begun, the global market has been facing huge crude volatility, which has made global participants anxious about huge inflationary pressure on them. Despite the fact that crude oil is not directly linked to Silica production, the effect of inflation can be observed on all the chemical commodities.

On the other hand, the Indian market has showcased stability in the meantime, as the data shows a decline of 1% on the back of ample availability for the product amidst stable demand from the domestic market. Despite the fact that demand fundamentals for the product have improved compared to the previous quarter, prices maintained overall stability during this period.