Get the latest insights on price movement and trends analysis of Sodium Cyanide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Sodium Cyanide Price Trends for First Half of 2023
The first and second quarters of 2023 witnessed a declining trends in the prices of sodium cyanide as the feedstock market failed to provide the required support.
The major factor that influenced this decline was the weak demand from the downstream industries, leading to a significant rise in the level of inventories. This low demand and high availability of sodium cyanide widened the supply-demand gap and, thus, negatively impacted the price trends of sodium cyanide.
The cost of feedstock materials fell consistently in the first and second quarters of 2023 due to the significant decline in prices of natural gas. In addition to this, low demand from downstream industries, restricted supply from Russia, and excess availability of the materials in the region affected the price trends of sodium cyanide throughout this phase. Overall, the market dynamics of sodium cyanide were also challenged by the negligible number of offtakes from domestic and international buyers, and as a result, the price trends of sodium cyanide declined in the European market.
In North America, the price trends of sodium cyanide was majorly affected by the short demand for feedstock materials and rising levels of inventories in the first and second quarters of 2023. The decline in the prices was much more prominent in the second quarter.
The diminished level of inquiries, low consumption of consumers, and weak movement of its derivatives proved to be some major challenges in the region. In addition to this, the rate of exports to other North American countries also declined as the sea levels were not favorable, and thus, the price trends of sodium cyanide went southwards.
According to Procurement Resource, the price trends of Sodium Cyanide is estimated to decline in the upcoming quarters due to poor performance and negligible support from the feedstocks sector.
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Sodium cyanide is an inorganic compound that has a white appearance and is a water-soluble solid. Because of the chemical's high affinity for metals, this salt is extremely toxic. Its primary applications include gold mining, which takes advantage of its high reactivity to metals. It has a moderately strong foundation. When exposed to acid, it can produce the toxic gas hydrogen cyanide.
|Product Name||Sodium Cyanide|
|Industrial Uses||Mining, Electroplating|
|Molecular Weight||49.007 g/mol|
|Supplier Database||Anhui Shuguang Chemical Group, Cyanco Corporation, Chemours Company, Orica Limited, Taekwang Industrial Co., Ltd, CyPlus GmbH|
|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 the process using hydrogen cyanide and caustic soda, sodium cyanide is produced by reacting liquid anhydrous hydrogen cyanide with a sodium hydroxide solution. The finished product is a 30% wt solution of sodium cyanide.
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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