US & European Sodium Tetraborate Price Trend Contradicts Asia for February 2024

Sodium Tetraborate price have declined in the global market including United States (US) and Europe in February 2024, excluding the Asian Pacific region. Sodium Tetraborate market grappling with numerous challenges that drove its price trend including raw material prices, production cost and logistic disruptions. These challenges create significant implications for the manufacturers, supply chain and global consumers.

In the US market, Sodium Tetraborate prices reduced 1.4% in the first half of February 2024 after witnessing a stability in the previous month. This price reduction in the product attributed to the various factors including low production cost and the load of high inventory in the feedstock. Soda ash, a significant key raw material for the Sodium Tetraborate has been expressing a decreasing price trend since early 2024. Concurrently, enough stock inventory of the borax ore in the meantime led to the reduction in the overall production cost. During this month, Sodium Tetraborate demand was low from the downstream agriculture sector while manufacturers were already struggling with the high inventory since the previous month.

Difficulties remained same for the European market; German market expressed the same trend as the USA. In February 2024, Sodium Tetraborate price fell significantly 1.5% in the German market owing to the numerous factors like reduction in production costs coupled with the low price of raw material amid the lacklustre demand from the downstream domestic market as agriculture sector going through the worst in Europe due to the worst climate change. Numerous factors affected the agricultural sector including increasing temperature, lack of water. On the other hand, Train and truck drivers protest in Germany against cutting the working hour and improvement of pay, created a turmoil for the transportation industry, continuing to affect the neighbouring nation too. Since the early 2024, Europe, mainly Germany has witnessed a consecutive strike, affect the trade including the commodity prices.

Meanwhile, Asia Pacific region has been experiencing the opposite scenario to Europe and USA for the Sodium Tetraborate during the month. In China, Sodium Tetraborate price surged 2.5% during the month after the long bearish January. This slight growth in the Sodium Tetraborate price attributed to the price surge in raw material led to an increase the overall production cost. However, Chinese market grappling with the numerous challenges that turn down the product price since September 2023 including accumulation of the sufficient inventories.

Conclusively, as per the ChemAnalyst, Sodium Tetraborate market may boost in the coming month in United states as well as in European nations under the expected improvements in Agriculture and the end of the ongoing protests. Conversely, Asian Pacific region may follow diminished price, logistics disruption may affect the export from Chinese market may result in load of inventory.