In April 2024, the global Zirconium Silicate market saw significant fluctuations in prices, with prices dropping notably in the US and Asian markets, while prices in Europe remained stable. This variation in prices across regions can be attributed to several factors influencing supply and demand dynamics within the industry. The declining prices in the US and Asian markets can be linked to subdued demand from the downstream construction sector. Despite the onset of favorable weather conditions for construction activities, demand has remained tepid globally. Supply disruptions in major trade routes, coupled with geopolitical tensions and economic challenges in European countries, have further dampened demand for Zirconium Silicate. Moreover, the Chinese Zirconium Silicate demand has been impacted by seasonal factors along with low demand from the construction sector. Consequently, these factors have contributed to a 2% decrease in the prices of Zirconium Silicate Powder DDP Texas (USA) and Zirconium Silicate Powder FOB Shandong (China), while European countries such as Germany, Spain, Italy, and Poland maintained stability during this period.

In the US, Zirconium Silicate prices unexpectedly declined after experiencing a marginal rise in the previous month. This decline can be partly attributed to a drop in construction spending, driven by a resurgence in mortgage rates that has weighed on homebuilding activities. Additionally, private construction projects witnessed a decline in spending in March, continuing the downward trend into April. The ease in the cost of imported material from European and Asian markets along with sufficient supplies has also contributed to the downward shift in prices of Zirconium Silicate in the USA.

On the other hand, the European Zirconium Silicate market remained stable, with prices unchanged from the previous month. The steadiness in prices can be attributed to a balanced supply and demand scenario. However, demand for Zirconium Silicate remained subdued due to weakening activities in the downstream construction sector amid challenging economic conditions. Supply-side constraints also persisted due to disruptions in the Red Sea and geopolitical tensions in the Middle East region. Moreover, manufacturing activity across the eurozone deepened its downturn in April, further impacting demand for Zirconium Silicate.

In the Asian market, particularly China, Zirconium Silicate prices followed a downward trajectory, primarily driven by low demand from the construction sector. While projects gradually resumed towards the end of April, demand remained lower compared to the previous year, with project progress slow and overall prices weak. Factors such as funding constraints have limited the initiation of new projects, leading traders to adopt a cautious approach toward project acceptance.