Asia
Throughout the first quarter of 2024, zinc sulfate heptahydrate prices in Asia exhibited significant oscillations. This fluctuation was largely driven by the variable prices of its primary feedstocks, zinc, and sulfuric acid. The cost of these upstream materials was influenced by rising global crude oil prices, which in turn increased energy and processing costs.
Despite this upward pressure, downstream support from the pharmaceutical and fertilizer sectors remained weak, widening the supply-demand gap. Both Chinese and Indian markets saw reduced consumer demand for zinc sulfate heptahydrate, causing prices to remain low and unstable for much of the period.
Europe
In Europe, zinc sulfate heptahydrate prices also fluctuated throughout the quarter. The surge in fuel and energy costs significantly elevated upstream and production expenses, occasionally driving up prices. However, sufficient inventory levels managed to meet the modest demands of downstream industries, keeping the price trajectory under pressure. Consequently, despite the occasional upward push from increased manufacturing costs, the market prices remained within a narrow range due to lackluster demand.
North America
In North America, zinc sulfate heptahydrate prices mirrored the stability observed in Asian and European markets. Demand was weak in both domestic and international arenas, with the pharmaceutical and chemical industries facing downturns due to high energy costs, prompting firms to reconsider production strategies. The market adopted a cautious approach amidst ongoing geopolitical and geoeconomic uncertainties, which continually influenced trade dynamics. As a result, the market experienced mixed sentiments and a relatively steady price trend throughout the first quarter of 2024.
Analyst Insight
According to Procurement Resource, the price trend of Zinc Sulfate Heptahydrate is estimated to struggle with the sluggish performance of the feedstock commodities and limited global trading due to the diversion of the Red Sea route and the low water levels of the Panama Canal.
Procurement Resource provides latest prices of Zinc Sulfate Heptahydrate. 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.
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Zinc sulfate heptahydrate (ZnSO4·7H2O) is a colorless crystalline solid that readily dissolves in water, forming a clear, aqueous solution. It is an inorganic compound and a key source of zinc, which is essential for various biological functions. This compound is commonly used in the agricultural industry as a micronutrient in fertilizers to promote healthy crop growth and correct zinc deficiencies in plants. In addition, it serves as a vital component in animal feed, ensuring proper zinc nutrition for livestock. Zinc sulfate heptahydrate is also utilized in water treatment, electroplating, and the production of rayon, as well as in pharmaceuticals and dietary supplements for its health benefits.
ZnSO4·7H2O
Fertilizers, Animal Feed, Chemical Industry, Water treatment
Noah Technologies, Shepherd Chemical, Mistral Industrial Chemicals, Shri Ram Agro Chemicals, Akash Purochem, G.G Manufacturers
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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