For the Quarter Ending June 2023



North America

The US market for Copper Sulphate has been affected by a combination of factors. The average consumption from downstream agrochemical industries has weakened market sentiments. Additionally, the cost support from Sulphuric Acid has been insufficient as its prices remain low due to sluggish procurement from end-use industries. The collapse of Silicon Valley Bank and Signature Bank has raised concerns about a banking crisis, impacting the broader US market. Manufacturing units have been operating at a reduced rate due to limited offtakes from downstream agrochemical industries, leading to a contraction in the manufacturing Purchasing Manager Index. Declining freight charges and a slowdown in demand from the agrochemical market have prompted manufacturers to reduce their offers to stimulate new shipments. Despite these challenges, the availability of input energy materials has been sufficient to meet demand from downstream manufacturing firms. The market concerns have been further exacerbated by an additional interest rate hike by the Federal Reserve in an effort to combat persistent high inflation.

APAC

In the Indian domestic market, the prices of Copper Sulphate have shown mixed sentiments in the second quarter of 2023. Prices initially declined due to ample availability brought on by resilient manufacturing activities in the country. The declining costs of upstream Sulphuric Acid and limited inquiries from the downstream agrochemical sector have contributed to bearish market sentiments. Downstream manufacturers have reported a buildup of stocks, hindering the demand dynamics of Copper Sulphate. Manufacturers have reduced their offers for the agrochemical sector to alleviate supply-side pressures. However, prices improved in mid-Q2 due to increased inquiries from downstream markets. In addition, India's retail inflation decreased to 4.25 percent in May, according to data from the Ministry of Statistics and Programme Implementation. Freight charges across Asia's major trade routes have also decelerated amid a global trade slowdown. The Logistics Performance Index report by the World Bank noted that India's container turnaround time is lower than that of Germany, the USA, and South Africa.



Get Real Time Prices of Copper Sulphate: https://www.chemanalyst.com/Pricing-data/copper-sulphate-1163

Europe

The German market for Copper Sulphate has experienced price pressure throughout the second quarter of 2023. Declining costs of upstream Sulphuric Acid have led to lower manufacturing costs for Copper Sulphate. Mild winter weather and low procurement from manufacturing firms have significantly reduced Natural Gas costs. Demand from downstream agrochemical industries has been insufficient to cause a major shift in pricing dynamics. Germany, as the largest economy in Europe, has been grappling with high inflation, affecting demand from the agrochemicals market. Interest rate hikes by the European Central Bank have limited purchasing power. Market players have reported a decrease in the value of the euro compared to the dollar due to Germany's higher inflation rate. Overall, the Copper Sulphate market in Europe has operated at a low level, with weak cost support from upstream Sulphuric Acid, inadequate downstream demand, and low container rates.



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