Sodium Cyanide Price History and Forecast Analysis | Procurement Resource
During the first half of 2023, sodium cyanide prices saw a consistent drop across various regions. In Asia, sluggish demand from downstream industries caused an accumulation of inventory, creating a significant gap between supply and demand and subsequently lowering prices. Meanwhile, in Europe, multiple factors including decreased natural gas costs, limited Russian supply, and surplus materials availability contributed to the downward price trend. Both domestic and international buyers showed minimal interest, further influencing the declining prices. Similarly, North America encountered reduced demand for feedstock, increased inventories, and decreased exports due to unfavorable sea conditions, leading to substantial double-digit percentage decreases in sodium cyanide prices, notably in the second quarter.
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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 Prices, 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 holds significant importance across multiple industries owing to its distinct characteristics. Within gold and silver mining, it serves a crucial function in the cyanidation process by facilitating the extraction of these valuable metals from ores. Its unique capacity to create stable complexes with gold and silver ions enables efficient separation. In the realm of chemical production, it acts as a key component in synthesizing various organic compounds such as nitriles and carboxylic acids. Furthermore, sodium cyanide finds application in electroplating to elevate the quality of metal coatings. Despite its pivotal role, its exceptionally high toxicity necessitates stringent safety protocols throughout handling, transportation, and disposal to avert potential environmental and health risks.
- Anhui Shuguang Chemical Group
- Cyanco Corporation
- Chemours Company
- Orica Limited
- Taekwang Industrial Co Ltd
- CyPlus GmbH
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