Sorbitol Prices: During the Quarter Ending December 2023
North America
During the fourth quarter of 2023, the Sorbitol market in North America remained stable overall. October saw a slight price dip, primarily driven by ample Sorbitol supply in the domestic market. Additionally, fluctuations in Corn starch prices, a key raw material for Sorbitol, influenced market dynamics, with low-cost raw materials prompting slight reductions in factory prices.
Later in the month, sporadic corn entries from northeast production areas, coupled with optimistic expectations of a high new season corn yield, continued to push domestic corn prices down, affecting corn starch prices. Furthermore, downstream sectors increasingly adopted just-in-time purchasing.
In the latter half of Q4, prices experienced a marginal uptick, with the latest settlement price of Sorbitol 70% Solution CFR New York in the USA reaching USD 760/MT, indicating market stability with a 0% average quarterly change. Supply-demand balance, ample inventories, and positive demand outlook from downstream sectors drove these fluctuations.
Get Real Time Prices of Sorbitol: https://www.chemanalyst.com/Pricing-data/sorbitol-1274
Asia Pacific
The APAC Sorbitol market encountered challenges in Q4 2023. Initially, prices trended downwards due to high inventory levels, leading to production reductions amidst weakened demand from downstream industries and a lack of new inquiries. Concurrently, high inventories maintained by manufacturers and retailers further supported this trend.
As November began, prices started to rise due to increased Sorbitol demand, leading to bulk orders and inventory restocking. Power outages also impacted demand, prompting market players to replenish inventories through bulk orders, tightening market sentiments. Exchange rate strengthening also contributed to market tightness.
The latest price for Sorbitol 70% Solution FOB Shanghai in China this quarter stands at USD 664/MT, showing a 0.22% average quarterly increase.
Europe
In the final quarter of 2023, Sorbitol prices in Europe fluctuated noticeably. Initially decreasing, contrary to expectations, due to robust corn harvests in France, setting production records and exerting downward pressure on prices.
Mid-quarter, prices rose, possibly due to increased holiday season demand or pre-stocking by food manufacturers. The latest recorded price for Sorbitol 70% Solution FOB Le Havre in France is USD 114/MT, reflecting a 0.52% average quarterly increase. These dynamics underscore the role of market expectations, agricultural production, and seasonal demand in shaping Sorbitol price trends.
Get Real Time Prices of Sorbitol: https://www.chemanalyst.com/Pricing-data/sorbitol-1274
Contact Us:
ChemAnalyst
GmbH - S-01, 2.floor, Subbelrather Straße,
15a Cologne, 50823, Germany
Call: +49-221-6505-8833
Email: sales@chemanalyst.com
Website: https://www.chemanalyst.com
Comments
0 comment