Magnesium Sulfate Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Magnesium Sulfate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Magnesium Sulfate Price Trend for the October - December of 2023
Asia
The manufacturing sector of magnesium sulfate performed fairly well in the last quarter of 2023. China is one of the major exporters of magnesium sulfate, and the expansion of its manufacturing and industrial sectors hinted towards the fast recovery of the market. As a result of this positive outlook, the demand for magnesium sulfate showed some improvement, not much as expected but enough to give the trading sector a ray of hope. The export number of magnesium sulfate from China to the US, however, declined as a result of increasing tension in the sea routes due to the Isarel-Hamas conflict.
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Europe
In European countries, the adverse weather conditions and slowing down of the downstream fertilizer industries resulted in the downfall of magnesium sulfate price trend. The end-user industries suffered from the ill consequences of poor economic growth and rising inflationary pressure. Further, the blocking of the Red Sea route and the increased number of sanctions on Russia made the international trading of magnesium sulfate difficult, as could be seen in the southward movement of magnesium sulfate prices.
North America
Due to the onset of the holiday season and sale season in the US, the magnesium sulfate price trend struggled throughout the entire end quarter of 2023. The number of shipments of magnesium sulfate reaching the US ports also declined steeply as the water levels in the Panama Canal reduced under the red zone while the ongoing Israel-Hamas tensions restricted the movement of cargo through the Red Sea route. Additionally, the consumers also seemed uninterested in the magnesium sulfate sector, partially due to the holidays and partially due to the heavy rains, which postponed agriculture activities.
Analyst Insight
According to Procurement Resource, the price trend of magnesium sulfate are expected to waver in accordance with the fluctuations in the downstream demand and excessive pressure of the struggling global economy.
Magnesium Sulphate Price Trend for the July-September of 2023
Asia
The initial phase of the third quarter witnessed a surge in the magnesium sulphate price trend. This trajectory of the magnesium sulphate price graph was supported by high demand and escalating inflation in the global food market. Further, the agricultural industries suffered from the alteration in the rain patterns and depletion in the inventory levels. In addition to this, the supply of feedstock material also remained restricted in the region, which also helped in the growth of magnesium sulphate price trend.
Europe
The third quarter of 2023 brought positive momentum in the magnesium sulphate prices as the fertilizers and horticulture sector improved their consumption rates. Further, the decline in the level of imports from Russia decreased the availability of stockpiles of the product in the region.
In addition to this, the abrupt surge in the cost of food products and disruptions in the supply chains also supported the positive trajectory of the magnesium sulphate price graph. During the middle of the third quarter, the prices began to stumble as the number of offtakes and interest of consumers began to decline but this momentum was short-lived as market sentiments improved again towards the end of the quarter.
North America
The magnesium sulphate price trend experienced fluctuations during Q3 of 2023 but overall registered an incline. The main driver of the magnesium sulphate market was its demand from the downstream fertilizer and agriculture sectors. There was a slight reduction in the magnesium sulphate prices in the month of August as a significant reduction in the cost of production and a hike in inflation and interest rates charged by banks was registered. However, with the limited availability of feedstock and the rise in demand, the magnesium sulphate price trend soon surged.
Analyst Insight
According to Procurement Resource, the price trend of Magnesium Sulphate are expected to follow a northward trajectory as its demand is driven by the forward movement of the fertilizer sector.
Magnesium Sulfate Price Trend for the First Half of 2023
Asia
The first quarter of 2023 suffered a decline in the demand from the downstream agriculture industries that affected the price trend of magnesium sulfate negatively. In addition to this, the upstream sulphuric acid prices also showcased weak growth that only led to the rise in the inventories of magnesium sulfate.
The stockpiles of magnesium sulfate also inclined due to the rise in production activities in China after a silent period due to the spring festivals, while the procurement of the product remained slow throughout the first two quarters of 2023.
Europe
The prices of magnesium sulfate witnessed an uneven trajectory in the first quarter. Initially, the agrochemical industries failed to maintain their market momentum, which was evident in their sales rates that, in turn, hampered the growth of magnesium sulfate prices.
The declining costs of production and upstream industries also proved to be a challenge for the growth of magnesium sulfate prices. However, in the second half of the first quarter, the shortage of skilled workers, tight monetary restrictions, and rise in cost inflation led to the rise in prices of magnesium sulfate. The second quarter failed to follow in the same trend as the weak economic conditions and fall in trading activities led to the decline in the magnesium sulfate price trend.
North America
In North America, the market trend of magnesium sulfate fluctuated throughout the first quarter of 2023 due to the decline in freight charges and demand for magnesium sulfate. In addition to this, the imports from China and Europe flooded the market amid weak demand scenarios. However, the lower availability of labor and high pressure of inflation caused the prices of magnesium sulfate to move in a positive direction. The second quarter, however, followed a bearish trend with a reduction in the number of offtakes from the downstream sectors, rising inventory levels, and logistics costs.
Analyst Insight
According to Procurement Resource, the price trend of Magnesium Sulfate is estimated to struggle with the declining interest of the agriculture sector and falling global trading sentiments.
Magnesium Sulfate Price Trend for the Second Half of 2022
Asia Pacific
An oscillating trend in the prices of Magnesium Sulfate was observed in the third quarter of 2022. The prices suffered majorly due to the fluctuating prices of feedstock material and uncertainties in the demand. The imposition of Covid-19 restrictions aided in these declines and as a result, the downstream market retracted. This also led to a rise in inventories and a strong supply that struggled with the reduced number of offtakes, hence weak economic conditions were prevalent during the concerned period.
Europe
The market for Magnesium Sulfate declined initially in the third quarter, but the prices soared significantly towards the end of the quarter. This price trend was majorly attributed to the persistent energy crises due to the Russia-Ukraine war as it also hampered the trade of raw materials in this region. After an incline in the third quarter, the prices stumbled in the fourth quarter. High rates of energy production, a depreciating currency, and rising inflation rates negatively influenced the price trend for Magnesium Sulfate.
North America
A fluctuating trend in the prices of Magnesium Sulfate was seen in North America. The prices oscillated due to the weak demand from the end-user agriculture industry, raising the inventory levels. The demand somehow improved in the middle of the third quarter with a simultaneous positive impact on the inventories. The fourth quarter was favourable in terms of Magnesium Sulfate prices. The availability of high-priced products from the exporting nations amid uncertain feedstock supply caused the prices to incline in the domestic market.
Analyst Insight
According to Procurement Resource, the prices of Magnesium Sulfate are likely to follow an oscillating trend in the upcoming quarter as the demand from the end-user industries and cost of energy production seems to be uncertain in the foreseeable future.
Procurement Resource provides latest prices of Magnesium Sulfate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Magnesium Sulfate, popularly known as Epsom Salt, is an ionic salt. Epsom salt is used to neutralise soil in agriculture. In the cosmetics sector, it's also used. Other uses include pharmaceuticals, alcohol, and the tofu industry.
Report Features | Details |
Product Name | Magnesium Sulfate |
Industrial Uses | Chemicals, Agriculture, Food additives, Pharmaceuticals |
Chemical Formula | MgSO4 |
Synonyms | Heptahydrate Magnesium Sulfate, Magnesium Sulfate, Heptahydrate, Sulfate, Magnesium |
Molecular Weight | 120.37/mol |
Supplier Database | PQ Corporation, Umai Chemical Co. Ltd., Laizhou Guangcheng Chemical Co., Giles Chemical |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In this method, magnesium carbonate is treated with sulfuric acid to produce magnesium sulphate.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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