Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore - 2022

Contents:

1. Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore (CIF) - 2022
2. Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore (FOB) - 2022
3. Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore
4. Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore

Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore (CIF) - 2022

In September 2022, the average import price for silicates; of sodium (excluding sodium metasilicates)s amounted to $333 per ton, with an increase of 9.1% against the previous month. Over the period under review, import price indicated modest growth from September 2021 to September 2022: its price increased at an average monthly rate of +1.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, import price for silicates; of sodium (excluding sodium metasilicates)s decreased by -33.1% against June 2022 indices. The pace of growth appeared the most rapid in June 2022 an increase of 79% m-o-m. As a result, import price attained the peak level of $499 per ton. From July 2022 to September 2022, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Malaysia.

From September 2021 to September 2022, the rate of growth in terms of prices for Malaysia amounted to +4.8% per month.

Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore (FOB) - 2022

The average export price for silicates; of sodium (excluding sodium metasilicates)s stood at $3,783 per ton in 2022, which is down by -10.4% against the previous year. Overall, the export price, however, saw a remarkable increase. The growth pace was the most rapid in 2017 an increase of 49%. Over the period under review, the average export prices attained the peak figure at $4,222 per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($8,216 per ton), while the average price for exports to Thailand ($678 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore

In 2022, after three years of growth, there was significant decline in purchases abroad of silicates; of sodium (excluding sodium metasilicates)s, when their volume decreased by -10.3% to 9.9K tons. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 49%. As a result, imports attained the peak of 11K tons, and then contracted in the following year.

In value terms, imports of silicates; of sodium (excluding sodium metasilicates)s dropped to $2.5M in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +12.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, imports reached the peak of $2.7M, and then contracted in the following year.

Top Suppliers of Silicates; of Sodium (Excluding Sodium Metasilicates) to Singapore in 2022:

1. Malaysia (9.7K tons)
2. Indonesia (0.1K tons)

Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in Singapore

Exports of silicates; of sodium (excluding sodium metasilicates)s from Singapore soared to 232 tons in 2022, growing by 37% against the previous year's figure. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +10.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +108.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 52%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, exports of silicates; of sodium (excluding sodium metasilicates)s skyrocketed to $876K in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +7.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 58%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.

Top Export Markets for Silicates; of Sodium (Excluding Sodium Metasilicates) from Singapore in 2022:

1. Pakistan (93.8 tons)
2. Israel (89.7 tons)
3. Bangladesh (15.6 tons)
4. Philippines (7.5 tons)
5. Hong Kong SAR (6.6 tons)
6. Thailand (5.8 tons)
7. Malaysia (3.4 tons)

Source: IndexBox Market Intelligence Platform