For the Quarter Ending September 2024
North America
In Q3 2024, the North American Zirconium Silicate market faced a notable decline in prices, driven by multiple interrelated factors. Demand remained weak, particularly within the construction sector, reflecting broader economic struggles and a decrease in construction activity.
High supply levels significantly impacted market dynamics, compounded by disruptions from Hurricane Beryl and congestion at crucial ports, which led to a depreciation in prices. Additionally, ongoing global supply chain challenges, including delays at the Panama Canal and various labor disputes, further fueled the bearish market sentiment.
The USA, experiencing the most significant price fluctuations, recorded a sharp price drop of 10% compared to the previous quarter. Despite seasonal variations and ongoing supply chain disruptions, the quarter-ending price for Zirconium Silicate Powder in the USA exhibited a decline of 3.7%. This decline underscored a persistently negative pricing environment, characterized by subdued demand and an oversupply of products in the market. As a result, market participants found themselves navigating challenging circumstances, marked by uncertainty and caution as they approached the end of Q3.
APAC
Throughout Q3 2024, the APAC region experienced a marked increase in Zirconium Silicate prices, influenced by a combination of supply challenges and subdued demand. Key factors contributing to this upward trend included port congestion, supply constraints, and disruptions caused by natural disasters such as Typhoon Yagi. As a result, the market witnessed a notable surge in prices, particularly in China, which became the center of significant price fluctuations. Despite a modest increase of 1% from the previous quarter, the overall pricing environment in the region remained positive, reflecting a bullish market sentiment. In China specifically, Zirconium Silicate prices experienced a considerable rise, culminating in a quarter-ending price increase of 5.5% FOB Shandong. Various elements, including elevated supply levels and weak demand in the construction sector, impacted these price dynamics. However, the market demonstrated resilience amid challenges, with no reported plant shutdowns throughout the quarter. Overall, the pricing landscape for Zirconium Silicate in Q3 2024 showcased stability and upward momentum, indicating a favorable trend for the product within the APAC region.
Europe
In the third quarter of 2024, the European market for Zirconium Silicate faced a pronounced decline in prices, with Germany standing out as the country experiencing the most significant fluctuations. This downward trend can be attributed to a variety of factors. Notably, there was a marked weakening in demand from key sectors such as construction and ceramics, which was further exacerbated by challenging economic conditions and a lack of overseas demand. As a result, many producers opted to reduce their production rates, responding to the subdued domestic demand that characterized the market during this period. Additionally, rising shipping costs, which were influenced by port congestion and a surge in freight demand, contributed to the overall decline in product pricing. The quarter saw a notable decrease of 6% compared to the previous quarter, underscoring the difficult pricing environment. Overall, the consistent downward trajectory in pricing reflected a bearish sentiment among market participants. By the quarter's end, Zirconium Silicate Powder FD Hamburg in Germany recorded a price decline of 3.7%, highlighting the continued challenges and negative outlook for pricing within the European Zirconium Silicate market.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Zirconium Silicate market experienced a significant downturn, influenced by multiple interrelated factors. Primarily, decreased construction spending and weak demand from the downstream construction industry exerted substantial downward pressure on prices. This negative trend was exacerbated by reduced costs of imported materials from Asia and Europe, leading to excess supply.
Additionally, the collapse of the Francis Scott Key Bridge and the disruption of Baltimore's inner harbor, coupled with potential rail strikes, further complicated logistics and heightened supply chain uncertainties. Seasonality played a role, with traditionally lower demand in early spring contributing to the price reduction. This trend correlates with a broadened economic slowdown, characterized by diminishing manufacturing activities and consumer spending.
Concluding the quarter, the Zirconium Silicate Powder price in Texas stood at USD 3298/MT, encapsulating the negative pricing environment throughout the period. The ongoing economic stagnation, coupled with infrastructural disruptions, paints a bearish outlook, with the market grappling with high supply levels and tepid demand for Zirconium Silicate.
APAC
In Q2 2024, the APAC region's Zirconium Silicate market experienced a notable price decline, driven by a confluence of adverse factors. Subdued demand from key downstream sectors, such as ceramics and construction, coupled with oversupply issues, were the primary catalysts behind this pricing downturn. Elevated inventory levels and sluggish recovery in both domestic and international markets exacerbated the situation, resulting in a persistent bearish sentiment throughout the quarter. The manufacturing sector, while showing some initial uptick, faced headwinds with a decline in factory activity and high freight costs, further straining market dynamics. China, being the most impacted within the region, witnessed the most pronounced price fluctuations. The market struggled with a prolonged property sector crisis and a marked decrease in real estate investment, which significantly dampened demand. The seasonal monsoon also curtailed construction activities, adding to the demand woes. Additionally, the quarter saw disruptions due to port closures and logistical delays, which further amplified inventory pressures and market instability. The quarter concluded with Zirconium Silicate prices standing at USD 1785/MT FOB Shandong in China. Overall, the pricing environment was decidedly negative, characterized by persistent downward pressure and a challenging economic backdrop.
Europe
Zirconium Silicate pricing in Europe experienced a robust upward trajectory in Q2 2024, driven predominantly by significant supply disruptions and sustained low inventory levels. Severe weather events, including torrential rains and flooding, critically impacted key industrial transport routes, notably the River Rhine, exacerbating supply chain bottlenecks. Coupled with geopolitical tensions and logistical challenges in the Red Sea, these factors led to increased shipping costs and elongated transit times, collectively elevating product prices. The persistent economic challenges in the Eurozone, characterized by subdued domestic demand and high financing costs, further constrained production rates as producers sought to maintain profitability margins amidst escalating operational expenses. Germany, experiencing the most substantial price fluctuations, epitomized this trend with marked price increases due to compounded disruptions. Industrial activities were significantly hindered by flooding, necessitating evacuations and a halt in transportation along the River Rhine, a critical artery for industrial shipments. The correlation between disrupted supply lines reduced production outputs, and sustained low inventory levels fueled a notable price surge. Additionally, the seasonal increase in construction activities, albeit limited by economic adversity, contributed to heightened demand dynamics. Concluding the quarter, Zirconium Silicate Powder FD Genoa in Italy was priced at USD 2397/MT, underscoring a positive pricing environment. The overall sentiment was decidedly bullish, driven by a confluence of adverse supply conditions, logistical challenges, and incremental demand recovery, despite the overarching economic headwinds.
For the Quarter Ending March 2024
North America
In Q1 2024, the pricing dynamics of Zirconium Silicate in North America displayed a fluctuating pattern, influenced by various factors. While the overall trend showed stability, the USA market witnessed notable fluctuations, experiencing both price increases and stability during this period.
By mid-quarter, the Zirconium Silicate market in the USA maintained price stability after a 3% surge in January. Further, the moderate import cost of the product contributed to a slight rise in domestic market prices. The business environment in the US depicted a significant increase in overall economic activity, with companies reporting strong growth in new orders for goods and services, fostering an optimistic outlook and boosting confidence in future business prospects.
The rise in construction activities and positive business sentiment drove the upward trajectory of the product in the US market. Furthermore, freight charges associated with importing Zirconium Silicate from Asia to the US impacted product pricing in the domestic market. However, the supply remained sufficient in the domestic market, prompting traders to adjust prices with only a marginal increase this month. Moreover, the year-over-year price change from the same quarter last year showed a significant decrease of 15%, reflecting the volatility and changing dynamics in the market. Additionally, there was a notable price decrease from the last quarter of 2023. Plant shutdowns did not emerge as significant contributors to the pricing dynamics during this quarter.
APAC
During Q1 2024, the Zirconium Silicate market in the APAC region experienced stability, particularly in China, where prices only saw a 1% surge in February and remained unchanged for the rest of the quarter. China, being a major market in the region, played a significant role in these price fluctuations. This stability was attributed to a balance between supply and demand dynamics within the market. However, during the Spring holidays, demand from downstream ceramics and construction sectors remained subdued, only to rebound post-holidays, prompting traders to implement modest price adjustments. According to data from the National Bureau of Statistics (NBS), the business activity index for the construction industry stood at 53.5, marking a slight decrease of 0.4 points from the previous month. This indicates a decrease in consumer demand sentiments, which consequently impacted the demand for Zirconium Silicate. Despite these challenges, the market demonstrated resilience, showcasing its ability to adapt to changing demand dynamics and maintain stability amidst fluctuating conditions. Furthermore, market participants anticipate a resurgence in demand starting from early March post-holidays as procurement activities are expected to improve.
Europe
In Q1 2024, the Zirconium Silicate market in Europe witnessed a mixed trend, starting with a 3% decrease in prices in January, followed by surges of 4% and 5% in February and March, respectively. The prices were impacted by a range of factors, including the market situation in European nations, supply chain disruptions, and demand dynamics. The market situation in Germany played a pivotal role, with price fluctuations being most noticeable in this region. The construction sector encountered challenges such as a slowdown in demand, rising prices, increasing interest rates, and economic uncertainties. These factors led to a sustained decline in demand for construction projects, particularly in the housing segment. Additionally, disruptions in the supply chain caused by geopolitical tensions in the Middle East, reduced water levels in the Panama Canal, and an attack by Houthi rebels affecting transportation in the Red Sea further impacted market conditions. However, the mid-quarter price surge was primarily attributed to supply shortages in the region amid supply disruptions. Furthermore, there were no reports of plant shutdowns by market participants during this period.
For the Quarter Ending December 2023
North America
The North American market for Zirconium Silicate in the fourth quarter of 2023 witnessed several key factors that influenced prices and market conditions.
Firstly, the market experienced a slight decline in demand, with limited growth in the construction sector. This resulted in lower purchasing activity and reduced orders for the product. Secondly, the availability of Zirconium Silicate in the market remained moderate, with a steady supply from traders. However, the limited demand and ample supply contributed to a downward pressure on prices. Among the countries in the region, the United States had the most significant changes in prices.
The price of Zirconium Silicate in the US market decreased by 6% compared to the previous quarter. This decline can be attributed to the subdued demand and ample supply in the market. Additionally, the US market experienced a slight increase in demand towards the end of the quarter, leading to a small price uptick. Overall, the North American market for Zirconium Silicate in the fourth quarter of 2023 was characterized by subdued demand, moderate supply, and a slight decline in prices. The latest price of Zirconium Silicate Powder DDP Texas in the US market for this quarter is USD 3610/MT.
APAC
The fourth quarter of 2023 was challenging for the Zirconium Silicate market in the APAC region. The market witnessed a downward trend in prices, with the latest price being USD 1975/MT for Zirconium Silicate Powder FOB Shandong in China. The market was affected by several factors throughout the quarter. Firstly, there was an abundant supply of the product in the market, leading to competitive pricing from domestic manufacturers. This, coupled with weak demand from both domestic and overseas markets, resulted in price declines. The construction sector, in particular, experienced a slowdown, leading to reduced activity and new orders. However, there were no reported plant shutdowns during this period. China, being the largest market in the region, experienced the most significant changes in prices. The country faced challenges in achieving a robust post-COVID recovery, with concerns in the housing market and a slowdown in global demand impacting momentum. Despite these challenges, there is optimism for improvement in the domestic economy at the beginning of 2024. Overall, the Zirconium Silicate market in the APAC region faced price declines and weak demand throughout the fourth quarter of 2023.
Europe
The Zirconium Silicate market in Europe encountered substantial challenges in the fourth quarter of 2023, primarily stemming from weakened demand within the construction industry. This downturn had a pronounced effect on market dynamics, leading to a decline in prices. Germany's construction sector, in particular, underwent a notable contraction, characterized by sharp reductions in both activity levels and new orders. The underlying causes for this contraction included tighter financial conditions, elevated cost pressures, and customer uncertainty. While the market maintained a moderate supply of Zirconium Silicate, manufacturers adopted a more pessimistic outlook on the future, prompting adjustments in workforce numbers. Further, no plant shutdowns were reported during this period. The European region witnessed an overall reduction in demand for Zirconium Silicate, contributing to the observed price decrease. Furthermore, there was a significant 29% price drop compared to the corresponding quarter of the previous year. Despite these challenges, there is a sense of optimism for economic improvement in the domestic market as 2024 commences. The quarter-ending price for Zirconium Silicate Powder FOB Genoa in Italy was recorded at USD 2128/MT.
For the Quarter Ending September 2023
North America
The price of Zirconium Silicate exhibited a bearish trend in July and suddenly rose in the rest of the third quarter of 2023. In July, the downturn was caused by a monthly decline in new orders as domestic and foreign demand remained weak. The difficult sales environment forced companies to reduce purchases of production inputs, leading to significant inventory reductions. Despite a sharp decline in production due to a drop in new orders, companies increased employment at a faster pace as confidence in the outlook for production grew. During the rest of the quarter, Zirconium Silicate exhibited an upward trajectory, primarily driven by elevated labor costs and inflation in construction materials. Price increases were slightly more prevalent compared to the previous month. Domestic market merchants engaged in restocking activities in anticipation of future demand conditions. Additionally, the price incline was influenced by heightened demand from potential customers and constrained stock availability to meet domestic needs. Furthermore, the supply conditions in the market have been consistently improving, which has had an impact on the overall pricing dynamics.
Asia
According to ChemAnalyst, the price of Zirconium Silicate in the Chinese market followed a bearish trend during the third quarter of 2023. This was primarily attributed to reduced interest from the downstream construction industry in the region. At the beginning of the quarter, the demand for Zirconium Silicate was further hampered by extensive rainfall, which negatively impacted the construction, cement, and ceramic sectors in China. Additionally, the export of Zirconium Silicate to international markets saw a decline in July due to the overall subdued global trade activities among businesses. Midway through the quarter, market stability was influenced by China's non-manufacturing sector, which continued to expand, thanks to the recovery of service industries and a robust construction sector. This led to an overall improvement in business conditions, with an increase in new order intakes. Companies noted that these more stable market conditions had encouraged greater client spending. By the end of the quarter, a surplus of materials in the market enabled domestic manufacturers to offer competitive pricing for their products. However, despite some slight improvements in factory activities, the overall demand for Zirconium Silicate remained weak. This suggests that the consumption of this material within the downstream industry fell short of expectations. In essence, while there was an ample supply of Zirconium Silicate in the market and manufacturers responded with competitive pricing, the demand side of the equation did not show a significant upswing during this period. Market participants expressed the view that the post-pandemic recovery momentum has not been as robust as initially anticipated.
Europe
During the third quarter of 2023, Zirconium Silicate prices in the European market displayed a declining trend. A sharp drop in new orders pointed to weaker demand in the eurozone's largest economy, which in turn prompted builders to scale back both purchasing activity and employment reflected growing concerns about future production. A mix of higher interest rates, a stagnant economy and still high construction costs have construction companies deeply pessimistic about the coming months. The availability of Zirconium Silicate has remained abundant to meet domestic demands. The German construction Purchasing Managers' Index (PMI) continues to remain below the threshold limit, signifying that the construction sector's recovery is expected to be a prolonged process. In September, the construction sector experienced an increase in job losses as workloads declined, and business sentiment grew more pessimistic about the industry's future. Commercial activity, in particular, saw a significant decline, marking the sharpest decrease since September of the previous year. The same pricing trend was observed in other European countries like Poland, Italy, and Spain, which were importing from the eurozone market at affordable prices throughout the third quarter of 2023.
For the Quarter Ending June 2023
North America
The price trend of Zirconium Silicate remained declining trend in the US market during the second quarter of 2023 due to the low trading activities among the enterprises. The low demand was mainly driven by poor performance in the downstream construction industry. High-interest rates, wage cost increases, general inflation, and a major bank crisis in the country impacted the construction market. The merchants continued to work through their existing stocks in the domestic market. The demand for the product did not rise due to the sufficient availability to meet the requirements of the downstream construction industry. The supplier's delivery times it was improved further and to the greatest extent on record in the US market. Some firms also noted that sufficient client stock levels had led to lower new orders. Similarly, overseas client demand remained subdued. Although easing from that seen in May, the pace of contraction in new export orders was steep overall in June. As a ripple effect, the cost of Zirconium Silicate hovered around USD 3789/MT on a DDP Texas basis at the end of the second quarter of 2023.
APAC
In the second quarter of 2023, the Chinese Zirconium Silicate market witnessed a declining price pattern due to the sluggish demand from the construction industry. The export orders were down, and the market had enough material to meet the requirements of the downstream sectors. According to recent NBS statistics, China's manufacturing PMI fell in the second quarter of 2023 and below threshold limits. The contraction saw in factory activity amid weak domestic and global demand. These suggest that China's stagnating economy contributing to a decline in production and a lackluster outlook for new orders. There were problems with downstream funding, and demand recovery was weak. Particularly, with limited support for the building industry, the marginal investment in real estate has declined and is still bottoming out in the short term. Because of the general weakness of the market, the negotiations had a narrow scope. As a ripple effect, the cost of Zirconium Silicate hovered around USD 2312/MT on a FOB Shandong basis at the end of the second quarter of 2023.
Europe
The price of Zirconium Silicate saw a declining trend in the Polish market due to the weak fresh orders from domestic and overseas markets during the second quarter of 2023. Improved supply capacity coupled with a drop in demand inevitably pushed prices lower. A further fall in construction activity is being brought on by higher interest rates in the eurozone, and it has further accelerated in residential and commercial buildings month-over-month. The year's greatest decrease in consumer spending was seen in the region. The Polish Purchasing Managers Index (PMI) fell in June, the sharpest fall in 2023. The decline in demand and production was the steepest in 2023 so far. Reflecting the weakness in new orders, a sharp backlog fall was recorded, and output expectations remained subdued. As a ripple effect, the cost of Zirconium Silicate hovered around USD 2502/MT with a monthly decline of 2.5% on a FOB Gdansk basis at the end of the second quarter of 2023.
For the Quarter Ending March 2023
North America
A weak to stable trend in the price of Zirconium silicate was seen in the North American market throughout the first quarter of 2023 as a result of the construction and cement sectors' sluggish demand. The product's cost was constrained by the nation's broad availability and the modest demand from downstream industries. The primary reasons why the demand for the construction industry was muted were high-interest rates and inflation. Additionally, the overall trend in freight costs continued to fall, assisting the Zirconium Silicate industry in the overseas marketplace. The cost of other construction materials, such as cement and concrete, increased in the USA market, which eventually limited the procurement operations of Zirconium Silicate.
Asia
The Zirconium Silicate market saw a stable with a slightly upward price trend in the Asian market during the first quarter of 2023. China has accelerated infrastructure investment in the first quarter of this year to propel economic growth and drive up the activity of many associated downstream enterprises and broad market demand for basic materials, including Zirconium Silicate. China opened the market after the Lunar holidays, and the market got improved and received more orders from the overseas market, further supporting the price trend. The Purchasing Managers' Index (PMI) for China hit a record high of 57 points in March, and the manufacturing sector index saw a strong gain over the previous 12 months. On the other hand, attitudes among service providers and in the construction sector rose to a 12-year high.
Europe
The first quarter of 2023 saw a declining trend in the price of Zirconium silicate commodities in Europe due to a lack of demand around the overseas market. High-interest rates, inflation, and geopolitical concerns all contributed to a fall in product demand. The price of the associated commodities has increased, and the trade activities of Zirconium silicate have decreased due to inflation rates. Demand dynamics persisted in their lackluster state and intended a downward trend in pricing for the entire quarter. The cost of Zirconium Silicate hovered around USD 2713/MT on an FD Hamburg basis at the end of the quarter.
For the Quarter Ending December 2022
North America
The fourth quarter of 2022 saw a slight movement in the Zirconium Silicate market due to declining demand from downstream sectors and declining production costs globally. The central bank's action helped to reduce the significant inflationary pressure that had been affecting the USA. However, the FED's high-interest rate, which ultimately caused a decline in the nation's economic activity, was the cause of this relaxation in inflationary pressure. As a result, there was less demand for the product from the construction sector in the USA, contributing to the price drop.
Asia
The price of Zirconium Silicate decreased in the Asian market this month due to the slowdown in economic activity brought on by the global pandemic and recessionary fear that pervaded the entire globe. According to the data, the price of Chinese Zirconium silicate decreased by about 5.7% during this quarter and was almost USD 2460/MT (FOB) in China in December 2022. Major importing nations also benefited from this drop as dealers there were able to purchase cheaper cargoes from the global vendor. The festive season in October and November increased demand from the domestic market, which helped the Indian market do better than other economies.
Europe
The effects of the Russo-Ukrainian War continued to plague Europe, making it difficult for the economy to recover quickly. According to the data, decreased demand for Zirconium Silicate in the construction industries affected the market's pricing trend for the commodity. Natural gas price reductions also prevented upstream commodity prices from rising and helped companies' margins. Nevertheless, natural gas prices remained high despite market easing, placing pressure on producer margins. The price of Zirconium Silicate was assessed at USD 2900/MT in December 2022 in Germany.
For the Quarter Ending September 2022
North America
The North American Zirconium Silicate market witnessed a downward price trajectory during Q3 2022, supported by low demand from the downstream industries amidst adequate inventories. As per the data, in order to cool down inflation, Fed raised the interest rate, eventually leading to a slowdown in the economic activities of the country. Thus, post these frequent revisions in rates, a significant slowdown in economic activities was observed, which also includes dullness in the construction sector. Furthermore, rising natural gas prices also remained a matter of concern for the key players, as it was affecting the costs of production and eventually pressuring their profit margins.
Asia
In Asia, Zirconium Silicate prices heard tumbling throughout the quarter owing to stockpiled inventories and low demand from the regional market. Despite the fact that India was getting ready for its annual festivities, demand fundamentals from the construction sector remained low, and statistics show that economic output for the Indian market remained unexpectedly low during these three months. On the other side, pandemic-related disturbances have been affecting the Chinese market for a long time, and the construction sector was among the most affected sector. Thus, the Zirconium Silicate price declined in China and hovered around USD 2810/MT during September 2022.
Europe
Wavering offtakes have made a negative impact on Zirconium Silicate prices in the European market during Q3 2022. As per the data, Zirconium Silicate prices kept on tumbling throughout the quarter on the back of low demand fundamentals from the downstream construction sector amidst ample product availability in the country. Furthermore, under the influence of low demand and stable production rates, convertors in Poland were offering their cargoes at discounts in order to sustain offtakes. Thus, post witnessing a consistent decline for three months, Zirconium Silicate prices were heard hovering around USD 3230/MT in Germany during September.
For the Quarter Ending June 2022
North America
Q2 2022 became a battle between government and high inflation in the country. Inflationary pressure remained a major concern for the US market, as it was the prime factor behind the price increments of several commodities. The data shows that Zirconium Silicate has not remained untouched by the huge pressure of rising raw material costs. The Zirconium Silicate price rose effectively during this quarter due to high raw material costs, which was later exacerbated by high natural gas value due to high demand. However, by the end of the quarter, decisions by the country's central bank to calm the huge burden of inflation led to an economic slowdown in the country.
Asia
Zirconium Silicate price remained firm in the Asian market during Q2 2022, sustaining an uptrend across major Asian economies. Although pandemic-related uncertainties have impacted the market dynamics of China, which was struggling to recover from the devastation, Zirconium Silicate prices have also risen in the country. Data shows a hike of around 2% during June, owing to ample demand from the international market while domestic consumption was reduced. However, trade disturbance across the country supported this price uptrend. In addition, the Indian market maintained stability in economic activities, and no pandemic-related or other market disturbances were observed during this quarter.
Europe
European Zirconium Silicate prices remained buoyant throughout the quarter, primarily driven by high input costs. ChemAnalyst data shows a significant hike of around 1% in Germany by the mid of May 2022, owing to high input costs under the influence of fuming energy prices. As per the insights, the PMI index of Germany had been resilient at an elevated value, supporting the price uptrend for several essential and non-essential commodities in the country. Additionally, since the Russia-Ukraine war escalated, the natural gas cost has already been at a high value, looming another steep surge due to reduced supplies by Russia via Nord Stream 1 pipeline.
For the Quarter Ending March 2022
North America
Zirconium Silicate market remained buoyant across North America region during this quarter owing to stable offtakes from the downstream consumers, coupled with soaring upstream value. As per the data, steep rise in raw material cost was observed, bolstered by rising upstream value under the influence of ongoing Russia-Ukraine conflict. Furthermore, demand fundamentals for the product from downstream construction sector showcased significant pickup as a seasonal phenomenon. Sudden escalation of Russia Ukraine conflict disturbed the market dynamics of several commodity including Zirconium Silicate in the US market, as traders were uncertain about future procurements for Silicates. Thus, post these market hiccups, Zirconium Silicate was assessed around USD 3155/MT during February.
Asia Pacific
Asian Silicate Market showcased consistent hike throughout the quarter, owing to stable offtake from the domestic market coupled with rising production cost. In China, the prices of Zirconium Silicate continued to stay in an uptrend with a marginal increase of around 1% in the month of February. The initial production halts on the account of Chinese Spring Festival and Winter Beijing Olympics, impacted the domestic Zirconium Silicate market. Post the holiday break, the key market players witnessed numerous enquiries for the product which resulted in the positive base price revisions in the region. Also, the increased demand from the downstream Ceramic industry supported the price hike. The price discussions were assessed at USD 2779/MT for Zirconium Silicate Powder FOB Shandong in February.
Europe
In Europe, the price of Zirconium Silicate soared by average 2% during the month of February, backed by robust demand and constraint supply as the price of feedstock Silica was rising. The price of Zirconium Silicate powder was assessed at USD 3199/MT FD Hamburg. The prime reason for this surge in price of Zirconium Silicate was higher upstream cost as the prices of feedstocks as well as the upstream were rising consistently due to rising threat of inflationary pressure on Europe due to Russia-Ukraine conflict. Furthermore, the strong demand from end-use industries such as ceramic and enamel was also propelling the prices of Zirconium Silicate. Moreover, the last weeks of February witnessed a sudden halt in the supply of silicates owing to the disturbance across the Black Sea, hence further rise in the price of Zirconium Silicate was observed.
