June 2023 Sees a Slight Decrease in U.S. Sodium Carbonate Exports to $180M
U.S. Sodium Carbonate Exports
In June 2023, approximately 541K tons of sodium carbonate were exported from the United States; dropping by -12.2% compared with the month before. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2023 with an increase of 37% month-to-month. As a result, the exports reached the peak of 616K tons, and then shrank in the following month.
In value terms, sodium carbonate exports shrank to $180M (IndexBox estimates) in June 2023. The total export value increased at an average monthly rate of +1.8% over the period from June 2022 to June 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in May 2023 with an increase of 51% month-to-month. As a result, the exports reached the peak of $211M, and then shrank in the following month.
Exports by Country
Mexico (114K tons), Indonesia (64K tons) and Brazil (63K tons) were the main destinations of sodium carbonate exports from the United States, together accounting for 45% of total exports. Chile, Thailand, Australia and India lagged somewhat behind, together comprising a further 28%.
From June 2022 to June 2023, the biggest increases were in India (with a CAGR of +15.8%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Mexico ($31M), Chile ($25M) and Brazil ($23M) appeared to be the largest markets for sodium carbonate exported from the United States worldwide, together comprising 44% of total exports. These countries were followed by Indonesia, Thailand, Australia and India, which together accounted for a further 28%.
India, with a CAGR of +15.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In June 2023, the sodium carbonate price stood at $332 per ton (FOB, US), waning by -2.9% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.7%. The growth pace was the most rapid in May 2023 when the average export price increased by 9.8% month-to-month. As a result, the export price attained the peak level of $342 per ton, and then fell in the following month.
Average prices varied somewhat for the major external markets. In June 2023, the highest price was recorded for prices to Chile ($401 per ton) and Japan ($393 per ton), while the average price for exports to Canada ($274 per ton) and Mexico ($275 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.