Throughout Q1 and Q2 2023, the prices of sodium cyanide declined across regions. In Asia, weak demand from downstream industries led to inventory build-up, widening the supply-demand gap and causing a price drop. In Europe, falling natural gas prices, restricted Russian supply, and excess materials availability contributed to the declining trend. Negligible offtakes from domestic and international buyers also played a role. Similarly, North America faced low demand for feedstock, rising inventories, and reduced exports due to unfavorable sea levels, resulting in prominent double-digit percentage declines in sodium cyanide prices, especially noticeable in Q2.
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Definition
Sodium cyanide is a highly toxic compound with the chemical formula NaCN. It is a white, crystalline solid often used in industrial processes, particularly in gold mining and chemical manufacturing. Its main application is in extracting gold and silver from ores through a process called cyanidation. Sodium cyanide forms a stable complex with these precious metals, allowing them to be separated from other minerals. However, due to its extreme toxicity, proper handling and disposal are critical to prevent harm to human health and the environment.
Key Details About the Sodium Cyanide Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium Cyanide in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sodium Cyanide Price chart, including India Sodium Cyanide price, USA Sodium Cyanide price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sodium Cyanide Price Trend:
Sodium cyanide is integral to several industrial applications due to its unique properties. In gold and silver mining, it plays a pivotal role in the cyanidation process, where it helps extract these precious metals from ores. Its ability to form stable complexes with gold and silver ions enables efficient separation. In chemical manufacturing, it’s used to synthesize various organic compounds, like nitriles and carboxylic acids. Additionally, sodium cyanide is employed in electroplating to enhance the quality of metal coatings. Despite its importance, its extreme toxicity demands strict safety measures during handling, transport, and disposal to prevent environmental and health hazards.
Key Players:
- Anhui Shuguang Chemical Group
- Cyanco Corporation
- Chemours Company
- Orica Limited
- Taekwang Industrial Co Ltd
- CyPlus GmbH
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