Procurement Resource

 In the initial quarter of 2023, the prices of sodium nitrate in Asia saw a notable increase, propelled by heightened market activities, inventory restocking, and elevated feedstock costs. The robust demand from downstream industries, particularly in China post the Lunar holidays and Covid-19 period, contributed to sustained production rates. However, the second quarter witnessed a significant market downturn attributed to diminished demand from both domestic and international consumers, coupled with impeded trade activities. In Europe, the first quarter witnessed a surge in sodium nitrate prices, driven by the pharmaceutical and related industries, despite fluctuations in feedstock costs. Nevertheless, challenges emerged in the second quarter, stemming from declining feedstock prices, oversupply concerns, and sluggish demand from downstream sectors. North America initially experienced stability, but a decline in the second quarter was observed due to reduced procurement by end-use...