In November 2024, the prices of Sodium Chloride market exhibited a mixed trajectory globally, highlighting significant regional variations influenced by demand fluctuations, supply chain conditions, and currency movements. While key exporting nations such as China and India recorded notable price declines, similar downward trends were observed in importing nations like South Korea and Malaysia. In contrast, Indonesia reported rising prices driven by unique domestic market pressures.

As a major Sodium Chloride exporter, China faced a significant drop in prices, primarily due to lower-than-anticipated demand from international buyers and subdued domestic consumption. The country also saw strong domestic production, supported by favorable weather conditions, which contributed to an oversupply in the market. Data from China’s National Bureau of Statistics (NBS) revealed that the country's manufacturing Purchasing Managers' Index (PMI) rose slightly to 50.3 in November from 50.1 in October, indicating stable growth in the manufacturing sector. In response, Chinese exporters reduced their prices to maintain competitiveness in the global market.

Similarly, India, another leading exporter of Sodium Chloride, faced declining prices as a result of waning demand in both domestic and international markets. The food, pharmaceutical and water treatment industries, key consumers of Sodium Chloride, exhibited reduced procurement activity amid ample inventories and cautious purchasing strategies. On the export front, Indian suppliers faced intensified competition from other producers, especially as freight rates eased, reducing their pricing leverage. This combination of reduced local consumption and competitive export pressures forced Indian exporters to adopt more aggressive pricing strategies to maintain market share.

In South Korea, the weakening won made imports more expensive, which, combined with sufficient inventories held by domestic buyers, curtailed new purchase orders. This allowed buyers to negotiate lower Sodium Chloride prices, further dampening market activity. Similarly, in Malaysia, the depreciating ringgit raised import costs, making buyers hesitant to make significant purchases despite the overall decline in global prices. With industrial demand remaining subdued in both countries, buyers adopted a cautious, wait-and-see approach, leading to reduced market activity and downward pressure on Sodium Chloride prices.

In contrast to the broader global trend, Sodium Chloride prices in Indonesia rose during November. This increase was driven by a unique combination of strong domestic demand and favorable currency dynamics. The Indonesian rupiah appreciated against the US dollar during this period, making imports relatively cheaper. The reduced cost of imports encouraged higher procurement volumes, boosting demand and elevating Sodium Chloride prices in the domestic market.

According to ChemAnalyst analysis, the prices of Sodium Chloride are currently under pressure due to reduced demand from end-users, coupled with stable supply conditions. However, prices of Sodium Chloride are expected to pick up as the new year begins, driven by an increase in consumption and the need for market participants to replenish their inventories.