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Market sentiment for Sodium Benzoate continued to decline through the first week of December ****, which is consistent with the weak trend for the market seen in November.
The decrease in prices was a direct outcome of well-stocked inventories and a lack of immediate demand from customers. Suppliers reduced their offers for Sodium Benzoate, reflecting their inventories, and market sentiment was subdued during the spot and contract negotiations.
With the New York CFR price hovering around the USD *,*** per metric ton, the latest contract price for Sodium Benzoate is nearing the bottom end of the November pricing range. In fact, it is down over five percent for the month of November alone. The weak pricing trend has carried into December with little urgency for buyers to secure volumes due to ample supply and stable logistics.
The predominant factor in the supply-side...
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