For the Quarter Ending September 2024
North America
In Q3 2024, zinc sulphate prices in the North American market, especially the USA displayed a mixed trend influenced by various market dynamics. In July, prices faced downward pressure due to an oversupply situation, characterized by reduced trade activity and cautious procurement from farmers. Adverse weather conditions negatively impacted crop yields, leading to lower demand for agrochemical inputs and contributing to declines in Zinc sulphate prices.
However, the market shifted in August, with prices rising significantly. This increase was driven by heightened demand from the agrochemical sector, as favourable weather conditions boosted crop forecasts for corn and soybeans. The need for essential nutrients surged, further exacerbated by rising import costs from Asian markets.
September maintained this upward trajectory, supported by strong fertilizer procurement by farmers, who recognized zinc sulphate’s critical role in crop health. Supply constraints and limited inventories, combined with sustained demand from the agricultural sector, kept Zinc sulphate prices steadily increasing. Overall, the third quarter highlighted the volatile nature of zinc sulphate pricing amid evolving agricultural demands and supply chain dynamics.
APAC
In the third quarter of 2024, the APAC region witnessed a significant uptrend in Zinc Sulphate pricing, driven by multiple factors. Strong demand from various industries, particularly the agrochemical sector, played a pivotal role in propelling market prices upwards. Additionally, a surge in procurement activity and reduced inventory levels intensified supply-demand dynamics, further boosting prices. The rise in cost support from upstream zinc oxide also contributed to the overall price increase. Despite disruptions such as plant shutdowns, the market remained resilient, with manufacturers meeting the heightened demand adequately. India, in particular, experienced the most pronounced price changes in the region. The quarter saw a steady increase in Zinc Sulphate prices, with a notable 2% rise from the previous quarter. The prices showed an increase of 1% between the first half and second half of the quarter. The overall trend showcased a positive sentiment, reflecting stability and growth in the market. Seasonal factors and correlation in price changes indicated a robust pricing environment.
Europe
In Q3 2024, zinc sulphate prices in Europe specifically Spain demonstrated a mixed trend influenced by various factors within the agrochemical sector. July began with stable pricing due to sufficient supply and consistent domestic production. However, logistical challenges stemming from geopolitical tensions, particularly in the Red Sea and European ports, led to increased shipping costs and delivery delays. The market shifted in August, where prices surged significantly driven by heightened agricultural demand as farmers prepared for planting. Production constraints, including equipment failures and maintenance issues, restricted availability, and exacerbating price increases. The interplay of strong crop yield requirements and geopolitical disruptions intensified upward pressure on zinc sulphate prices. By September, the trend continued as farmers replenished inventories in anticipation of the planting season. Persistent supply challenges and rising raw material costs further fueled price hikes, highlighting the growing reliance on imported fertilizers amid local production difficulties. Overall, the quarter showcased a trajectory of initial stability followed by significant price increases, emphasizing the need for stakeholders to navigate the complexities of pricing and supply in the evolving agrochemical landscape.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, the Zinc Sulphate market in the USA experienced varied price trends. The availability of upstream Zinc Oxide was adequate throughout the quarter, ensuring a consistent supply of raw materials for Zinc Sulphate production. A significant factor that eased production costs was the decline in natural gas prices. According to the Energy Information Administration (EIA), U.S. working natural gas in storage reached 2,893 billion cubic feet (Bcf) for the week ending May 31, which was 581 Bcf above the five-year average. This increased availability of natural gas reduced overall manufacturing expenses, providing some relief to producers.
Additionally, the market has been impacted by seasonal demand fluctuations. Typically, the second quarter has seen an uptick in activity due to the planting season in the agrochemical sector. However, this year, the seasonal boost has been less pronounced, adding to the market's challenges. These conditions have led to a cautious approach by suppliers and manufacturers, who have been dealing with the effects of oversupply and falling prices.
Amidst These conditions, the market faced challenges due to economic pressures. Tight monetary policies across the USA, driven by the Federal Reserve maintaining the federal funds rate at 5.25%-5.50% amid persistent inflation and a tight labor market, limited economic activity and purchasing power, leading to cautious procurement practices. In summary, Q2 2024 for Zinc Sulphate in the USA was marked by mixed price trends. While average demand from the agrochemical sector and declining natural gas prices helped stabilize the market, economic challenges and reduced manufacturing rates posed ongoing difficulties. This resulted in a complex but manageable market environment for Zinc Sulphate producers.
APAC
In the second quarter of 2024, the pricing environment for Zinc Sulphate in the APAC region remained stable, influenced by a balance of supply and demand factors. Persistent inquiries from downstream agrochemical industries ensured consistent market fundamentals. The robust manufacturing conditions across the region, coupled with sufficient supply of energy materials and favorable industrial production data, contributed to this stability. The quarter witnessed no significant plant shutdowns or disruptions, which further supported steady pricing.
Focusing on India, which experienced the most notable price changes, the overall trend reflected an upward trajectory driven by active demand from agrochemical sectors and cost support from upstream Zinc Oxide and Sulphuric Acid. Despite some fluctuations due to seasonality and moderate increases in manufacturing costs, the price remained largely stable with minimal variation between the first and second halves of the quarter.
Compared to the previous quarter in 2024, the price saw a approximately 5% increase, indicative of a resilient market recovery and robust manufacturing activity.
Europe
In the second quarter of 2024, the European market for Zinc Sulphate experienced mixed price trends. Demand from the downstream agrochemical sector remained average, contributing to a stable market outlook. Despite tight monetary conditions across Europe, which affected broader economic activity, manufacturing firms-maintained operations at reduced rates to balance supply and demand.
The availability of upstream Zinc Oxide was adequate throughout the quarter, ensuring a consistent supply of raw materials for Zinc Sulphate production. A significant factor that eased production costs was the decline in natural gas prices, which reduced overall manufacturing expenses and helped offset some economic pressures. Despite these favorable conditions, the market faced challenges due to stringent monetary policies that suppressed economic activity and limited purchasing power. This environment led to cautious procurement practices and a conservative approach by manufacturers.
In summary, the second quarter of 2024 for Zinc Sulphate in Europe was characterized by mixed price trends. While average demand from the agrochemical sector and declining natural gas prices helped stabilize the market, tight monetary conditions and reduced manufacturing rates posed ongoing challenges. This created a complex yet manageable market environment for Zinc Sulphate producers.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the North American market for Zinc Sulphate experienced a stable pricing environment. However, in early Q1, the market also faced challenges, including the impact of the ongoing destocking season and the cautious approach of manufacturers in the wake of tepid demand and lower operating rates.
Furthermore, On the supply side, manufacturers of Zinc Sulphate operated without major disruptions, ensuring sufficient availability to meet market demand. Raw material supplies, including zinc and Sulphuric acid, remained stable during this period, contributing to the overall price stability. Demand for Zinc Sulphate remained steady, particularly from industries such as agriculture and animal feed. The agriculture sector continued to drive demand for Zinc Sulphate as a key nutrient for crops.
Cost factors, such as raw material prices and energy costs, also remained relatively unchanged, providing further support to price stability. However, fluctuations in freight charges due to shipping disruptions in the Red Sea caused by geopolitical tensions could have impacted overall costs.
APAC
The pricing environment for Zinc Sulphate in the APAC region during Q1 2024 has been largely stable, with some fluctuations observed in different countries. In general, the market has been influenced by factors such as demand from the downstream agrochemical industries, availability of upstream Zinc Oxide, and seasonal patterns.
India, in particular, has experienced significant price changes in Zinc Sulphate during this quarter. In January, prices decreased by 5.3% compared to the previous month. This decline can be attributed to lower demand from the downstream industries and the winter season's low procurement levels. Manufacturers adjusted their price quotations to stimulate shipments and reduce excess finished stocks.
In February, prices rebounded by 1.2% as inquiries from the agrochemical sector increased. The Rabi planting season led to an uptick in demand for Zinc Sulphate, supporting price realizations. The operating rates of the manufacturing firms were also adequate, meeting the growing needs of the agrochemical industries. In conclusion, the latest quarter-ending price for Zinc Sulphate (33% Zinc) Ex-Surat in India is USD 797/MT.
Europe
In the first quarter of 2024, the market for Zinc Sulphate in Europe experienced a complex interplay of factors influencing pricing dynamics. While the overall market conditions leaned towards bearish, characterized by limited supply and subdued demand, certain regions such as Belgium witnessed more pronounced price fluctuations.
In Belgium, weak consumer demand for Zinc Sulphate was attributed to a combination of factors including adverse weather conditions, disruptions in the supply chain, and protests by farmers against rising costs and environmental regulations. These factors collectively contributed to a decline in prices compared to the same quarter last year.
Furthermore, the year-end holidays and destocking season further dampened industrial activity, leading to reduced demand for raw materials and impacting pricing dynamics in early Q1. Some companies even initiated scheduled maintenance during this period to alleviate inventory pressure. This, coupled with abundant gas inventory levels, eased supply concerns and lowered European gas prices. In terms of price trends, Germany experienced significant price changes compared to the previous quarter. The market started the quarter with lower prices, but they gradually increased towards the end.
For the Quarter Ending December 2023
North America
In the fourth quarter of 2023, the North American market for Zinc Sulphate saw a varied trend. Initially, there was a slight price increase driven by robust demand from the fertilizer industry and improved industrial activities. However, concerns arose about a potential supply shortage due to a labor strike at the St. Lawrence Seaway, which is critical for the Canadian fertilizer sector.
In Canada, Zinc Sulphate prices experienced a marginal increase during this period. This rise was fueled by strong demand from the downstream fertilizer industry and an uptick in industrial activities. However, there were concerns about a potential supply shortage due to a labor strike at the St. Lawrence Seaway, which is vital for the Canadian fertilizer industry.
Overall, there were challenges such as slowing demand from downstream industries and a decline in manufacturing PMI, the firm demand from the fertilizer industry, and improved market sentiments provided some support. The destocking season in December led to reduced demand for Zinc Sulphate, as downstream industries lowered their inventory levels, contributing to the observed price decrease during this period. Throughout the quarter, there were no reported plant shutdowns in the market.
APAC
In the APAC region, the fourth quarter of 2023 for Zinc Sulphate was characterized by various factors that influenced the market dynamics. Firstly, the increased inquiries from the downstream agrochemical industries during the Rabi planting season had a positive impact on the market. This led to a moderate to high demand for Zinc Sulphate. Secondly, the prices of upstream Sulphuric Acid escalated, putting upward pressure on the price realizations of Zinc Sulphate. Furthermore, the year-end destocking season has also weighed upon the production activities as manufacturers were more inclined towards the release of the existing inventories rather than to initiate fresh production. The cost support from upstream Zinc Oxide is also insufficient as its prices have dropped in the given timeframe. Thus, the manufacturers have slashed their offers to stimulate the shipments. In terms of price trends, the quarter-ending price of Zinc Sulphate in India was INR 820/MT. However, there was a slight increase of 1.0% from the previous quarter. Overall, the fourth quarter of 2023 saw a positive market sentiment for Zinc Sulphate in the APAC region, driven by demand from the agrochemical sector.
Europe
In the fourth quarter of 2023, the market for Zinc Sulphate in Europe witnessed mixed market fundamentals. Demand for Zinc Sulphate in the region ranged from moderate to high, driven by increased inquiries from fertilizer manufacturers and consistent imports from global markets. In October The resumption of fertilizer trade among Russia, the USA, and Europe positively influenced market prospects. However, manufacturing production in the Eurozone declined, leading to a pessimistic market outlook. The supply of Zinc Sulphate was moderate. Production costs rose due to elevated gas prices and more expensive raw materials. No plant shutdowns were reported during this period. Furthermore, In Belgium, Zinc Sulphate prices rose in Q4 as demand conditions improved. The supply chain operations in Belgium remained efficient, and no significant supply-related issues were noted. The prices of Natural Gas have also dropped, easing the manufacturing costs of Zinc Sulphate. Additionally, the industry experienced a destocking season, during which businesses reduced their inventory levels, further contributing to the decreased demand for Zinc Sulphate. In response, manufacturers adjusted their production levels to align with subdued market demand, addressing the oversupply issue to stabilize prices and restore market balance.
For the Quarter Ending September 2023
North America
Average consumption from the downstream Agrochemical sector has kept the market sentiments for Zinc Sulphate bearish in early Q3 in the domestic market of the USA. Manufacturing firms have remained under pressure due to weak demand in the terminal market, and there has been an abundant supply of Zinc Sulphate to fulfill the demand of downstream Agrochemical industries. Furthermore, data from the US Bureau of Labor Statistics has shown that the annual inflation rate in the US has increased, reaching 3.7% in August, up from 3.2% in July, primarily because of higher energy prices. This elevation in inflationary pressures has harmed the purchasing sentiments of end-use industries. Additionally, around the middle of the third quarter, upstream Sulphuric Acid prices started to display an upward trend, increasing the manufacturing cost of Zinc Sulphate. As per the market participants, orders have remained consistent from domestic buyers due to increased planting activities within the country. In the South American region, the uptick in crop cultivation activities in the agriculture sector, as farmers restocked before the planting and sowing season, has heightened the demand for Zinc Sulphate at the end of the third quarter of 2023.
APAC
In the domestic market of India, the prices of Zinc Sulphate have demonstrated mixed market sentiments in Q3. The inquiries from the downstream agrochemical industries have remained active, strengthening the market fundamentals of Zinc Sulphate in India. As a result, manufacturers have revised their quotations in the first half of the third quarter of 2023. Industrial production in the Indian domestic market has sustained its momentum. There was enough availability of Zinc Sulphate stocks to fulfill the demand from downstream industries. As production expanded throughout the second quarter of 2023, the manufacturing purchasing manager index has consistently remained in the expansion zone. Furthermore, The prices of Zinc Sulphate have gained a downward momentum in the domestic market of India in August. The manufacturers have decreased their price quotations as the stockpiles of finished goods have risen, escalating the supply-side pressure. In September, On the upstream front, the prices of Sulphuric Acid have also escalated, prompting upward pressure on the price realizations of Zinc Sulphate. With the rise in inquiries from the downstream agrochemical industries amid the planting season, Rabi has strengthened the market fundamentals of Zinc Sulphate at quarter end.
Europe
The prices of Zinc Sulphate have demonstrated mixed market sentiments in the German market. In early Q3, the prices of Zinc Sulphate weakened amidst the decline in demand from the downstream Agrochemical sector. Additionally, the ease in manufacturing costs of Zinc Sulphate brought on by declining upstream Sulphuric Acid prices has further supported the downtrend observed in the price realizations of Zinc Sulphate. In mid-Q3, the holiday season in Europe halted production activities, leading to relatively low availability to cater to the downstream demand. In addition, throughout the third quarter of 2023, the manufacturing Purchasing Manager Index has remained in the contraction zone. In September, market sentiment toward Zinc Sulphate remained sluggish, driven by the decline in upstream Sulphurc Aicd prices and ease in energy costs, resulting in Decreased Zinc Sulphate prices. On the input energy front, the continent's storage levels achieved a capacity of 90.1%, as reported by Gas Infrastructure Europe. Thus, there was sufficient availability to ensure the production of downstream derivates. Overall, the supply chain has functioned normally, and there has been no obstacle or delays at the end of the third quarter of 2023.
For the Quarter Ending June 2023
North America
Throughout the second quarter of 2023, the price realizations of Zinc Sulphate remained under pressure in the US market. Global economic headwinds such as spiraling inflation, tight monetary condition, and rising interest rates have weighed on the downstream demand. Since March of 2022, the U.S. Federal Reserve has aggressively raised interest rates to combat inflation. The ongoing economic structuring after the failure of two major banks in the late Q1 of 2023 in the US market has been impacting the market performance of major manufacturing sectors. The manufacturers' inventories have expanded, as the higher borrowing costs and weak economic conditions have tempered the constrained demand from the downstream agrochemical industries across the domestic region. As per the market participants, the market transactions for Zinc Sulphate were mainly of small orders. The cost support from upstream Sulphuric Acid also remained lackluster throughout Q2, amid the constrained release of existing inventories. Furthermore, in Q2, the core inflation has trended above the US Federal Reserve’s targeted levels and inched downwards at a slower pace, pressuring the market fundamentals of Zinc Sulphate among the manufactueres.
APAC
The prices of Zinc Sulphate have demonstrated volatile market growth in the second quarter of 2023. In the first half of 2023, the prices of Zinc Sulphate remained on the lower end due to ample availability in the domestic market of India. The cost support from Sulphuric Acid on the upstream front was also insufficient, as its prices were observed to be low amid sluggish procurement from downstream end-use industries. Manufacturers have reported a build-up of stocks, which has hindered the development of demand dynamics for Zinc Sulphate. Consequently, under increased supply-side pressure, manufacturers have reduced their offers for the downstream agrochemical sector. According to data released by the Ministry of Statistics and Programme, the industrial production index in India grew by 5.2% in May 2023, compared to 4.2% in April 2023. This surge in production activities has continued into June, driven by active economic growth across the country. Towards the end of the second quarter, the prices of Zinc Sulphate have experienced an upward momentum in the Indian domestic market. The rise in inquiries from the downstream Agrochemical industries has contributed to the increase in price realizations of Zinc Sulphate.
Europe
In the second quarter of 2023, the prices of Zinc Sulphate sustained their downward trajectory in the domestic market of France. The continued inflationary pressures in the European region have diminished the purchasing power of the end-use industries on a broader level. The market players have avoided any bulk procurement for the maintenance of the market balance. On the input energy front, the demand for Natural Gas has plummeted amidst the limited consumption from the major energy-intensive manufacturing sector. Furthermore, In May 2023, France witnessed a year-on-year decline in consumer price inflation to 5.1%, dropping from 5.9% in April. This rate reached its lowest point since April 2022, indicating a possible slowdown in inflationary pressures in the second-largest economy of Europe. In terms of production, the operating rate of the manufacturing firms was still under pressure as the demand from the downstream industries was not fully recovered. Moreover, the labor shortages have persisted as the Labour Union’s strike against the government's proposed pension reforms didn’t vanish in the French market throughout Q2. Moreover, with a slowdown in global trade, container volumes have increased across the major European ports.
For the Quarter Ending March 2023
North America
In the US market, the Zinc Sulphate costs have observed a volatile price trend in Q1. The average procurement from the downstream agrochemical firms has reduced the market value of Zinc Sulphate. Rising interest rates, tight monetary conditions, and volatility in input energy material prices have pressured the market growth of several bulk chemicals, including Zinc Sulphate. As per the market participants, the inquiries from the downstream agrochemical were based on a need-on-demand basis, increasing the supply-side pressure on the existing high inventories. Furthermore, the financial sector worries brought on by the failure of two banks based in the USA have further fumed the market downturn across the domestic region.
APAC
The prices of Zinc Sulphate have demonstrated a bullish run in the first two months of 2023 in the Indian domestic market. The active consumption from the downstream agrochemicals and other-end use industries has strengthened the market fundamentals. Thus, with an increase in new sales from the downstream end-use sectors, manufacturing activities have grown and remained resilient. The cost support from upstream Sulphuric Acid was also limited, as reported by market participants. Furthermore, the prices started to decline in late Q1, as the manufacturers had already replenished the stocks. The supply-side pressure has increased, which led to a price cut. The ChemAnalyst database shows that Zinc Sulphate (33% Zinc) Ex-Surat prices were settled at USD 74350 per ton at the end of the first quarter.
Europe
Despite a fall in TTF Natural Gas costs, the accumulation of high-price inventories has kept the prices of Zinc Sulphate buoyant in the German market. The raging inflationary pressures have slowed down the purchasing sentiments of end-use industries. As per the market players, in order to sustain the profit margins, the manufacturers did not slash their offers regardless of weak procurement from the downstream agrochemical sectors. Furthermore, the demand from the downstream agrochemical industries has started to improve, albeit at a slower pace, which has led to stabilized market operations in late Q1. Although, throughout the first quarter of 2023, the prices of upstream Sulphuric Acid remained on the lower end in the wake of sluggish demand fundamentals.
For the Quarter Ending December 2022
North America
During the fourth quarter of 2022, the costs of Zinc Sulphate decreased in the North American market with a rise in stockpiling of products with the traders and suppliers. Due to an abundance of material, the manufacturers have slashed their offers. The cost support from the upstream Sulphuric Acid has also weakened the Zinc Sulphate prices and progressed with a southward trend. The economic conditions in the USA have been impacted by high-interest rates and strict monetary policy imposed by Federal Reserve to fight inflation. The market players have reported that supply chain pressures have been eased, and there was ample availability of containers at the ports. The drop in freight charges across the US-Europe routes has also been reported.
Asia
The market prices of Zinc Sulphate fluctuated in an upward see-saw direction during the last quarter of 2022 in the Asian market, as per ChemAnalyst Research Team Data. Zinc Sulphate prices improved in December. Increasing procurement from downstream agrochemical industries and other end-use industries has positively impacted Zinc Sulphate market fundamentals. The supply of goods in the market has been in normal circulation, and the manufacturing firms operated at their regular rates. On the demand side, domestic inquiries from downstream fertilizers industries have continued to be weak in November. Furthermore, manufacturing activities have improved in the Indian domestic market as inflationary pressures have softened.
Europe
The prices of Zinc Sulphate plummeted in the European market during Q4 of 2022, with lower procurement of fertilizers from the downstream sectors. Zinc Sulphate market sentiment has been impacted by reduced demand from the downstream agriculture sector. There has been a gradual increase in product supplies in the domestic market. A crippled market has led to lower manufacturer quotations. However, the weak participation of players in the middle eastern market further plunged domestic players to decrease their quotation rates. Furthermore, the TTF natural gas costs softened in December 2022, alleviating stress on the production costs of Zinc Sulphate in the German market. The dormant planting season in December has also supported the price decline of Zinc Sulphate in Q4-end.
For the Quarter Ending September 2022
North America
During the third quarter of 2022, Zinc Sulphate prices witnessed plunging sentiments amidst a weak demand outlook. The increment in raw material costs and diminishing demand from the downstream fertilizer sector have subdued the market sentiments toward Zinc Sulphate. Furthermore, in response to recent increases in energy costs, European zinc smelters reduced output. The reduction in market values of upstream Zinc and Sulphuric Acid has curtailed the price movement of Zinc Sulphate in the domestic region. However, natural gas prices fluctuated as the European countries' demand remained uncertain. The purchasing power of the terminal consumer was inadequate, foreseeing rising inflation in the regional market. Thus, as a ripple effect of falling raw material Zinc and Sulphuric acid costs, the Zinc Sulphate prices plunged.
Asia Pacific
In the Indian market, Zinc Sulphate prices witnessed an episodic price trend during the third quarter of 2022, as the ongoing Kharif planting season boosted the downstream fertilizer demand and strengthened the market value of Zinc Sulphate among traders. According to market participants, the rising costs of zinc have put significant downward pressure on the manufacturing costs of Zinc sulphate. Furthermore, the overall supply outlook for Zinc Sulphate in the Indian domestic market remained adequate as production sites continued to operate normally. The decreasing availability of downstream products from China shifted the global supply chain trend toward India, boosting Zinc Sulphate supply fundamentals. However, reduced offtakes from the downstream agriculture sector have pressured Zinc Sulphate market sentiments in the domestic region in September. Thus, the Zinc Sulphate (33% Zinc) prices for Ex-Surat (India) settled at USD 921/MT at Q3-end.
Europe
The Zinc Sulphate prices showcased mixed sentiments during the third quarter of 2022 amidst soaring energy and raw material costs. The significant increment in natural gas prices has pressured regional production activities. The manufacturers have opted for production cuts as they were unable to pass on the price hike to the terminal consumers. On the upstream price front, the prices of Sulphuric Acid have dropped amid the declined demand from the downstream market. The plunge in upstream raw materials has prompted negative pressure on the pricing dynamics of Zinc Sulphate in the market. The consumption levels from the downstream agriculture market remained relatively low as the region was grappling with high inflationary pressures and surging energy costs. Thus, the prices of Zinc Sulphate remained bearish in Q3.
For the Quarter Ending June 2022
North America
The Zinc Sulphate market expanded in the second quarter of 2022. The spot offers for Sodium Sulphate have been observed to be on a bullish run throughout Q2. The ongoing hostilities between European nations have exacerbated the market inquiries for Zinc Sulphate and significantly surged the raw material costs. In addition, the hindered black sea movement has constrained the downstream agricultural sector's supplies. Furthermore, the supply shortages and surged input costs have resulted in escalated offers for upstream Sulphuric Acid, prompting substantial cost pressure on the market values of Zinc Sulphate in the regional market. Thus, the increased manufacturing costs have pushed the manufacturers to revise their quotations in the second quarter of 2022.
APAC
During the second quarter of 2022, the price offer for Zinc Sulphate has escalated by two-digit figures in the domestic region of India. The supply turmoil unleashed by Russia's invasion of Ukraine and stringent lockdown restrictions in China has resulted in the curtailed availability of major feedstock materials. In addition, the volatile energy costs have exerted enough cost pressure on the manufacturing costs of Zinc Sulphate. Furthermore, on the upstream front, the constrained output of Zinc amid increased exchange prices and workforce shortages has also inflicted market sentiments on Zinc Sulphate. In addition, the increased demand from the downstream agriculture sector before the Kharif planting season has further supported the uptrend observed in Zinc Sulphate costs towards the end of the second quarter.
Europe
The Zinc Sulphate market has oscillated amid swindling demand from the downstream agricultural sector and water-treatment industries in the second quarter of 2022. The sanctions imposed by European nations on Russia have resulted in curbed supplies of significant energy materials for the major economies of Europe. Furthermore, the global supply turmoil and escalated upstream Sulphuric Acid costs have provoked enough cost pressure on the market values of Zinc Sulphate among the traders. As a result of escalated upstream Sulphuric Acid Prices, the manufacturing costs of Zinc Sulphate have also risen in the first half of Q2. However, towards the quarter's end, the uncertainties in terminal demand have prompted bearish market sentiments.
