Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate this week was weak, with the average market price of 2,325 RMB/ton at the beginning of the week and 2,175 RMB/ton at the weekend. The price fell by 6.45%, and down 13.8% year-on-year.

On March 16, the sodium bicarbonate commodity index was 146.85 points, a decrease of 2.49 points compared to the previous day, a decrease of 37.73% compared to the cycle's highest point of 235.84 points (2021-11-10), and an increase of 66.36% compared to the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1, 2020 to now)

Analysis review

According to SunSirs, the price of sodium bicarbonate was weak and consolidated. The recent demand in the downstream market was average. As of the 17th, the mainstream market quotation for sodium bicarbonate in Henan was around 2,100-2,300 RMB/ton. The price of light soda ash in the upstream of sodium bicarbonate in East China was around 2,700-2,900 RMB/ton in the mainstream market. The price of soda ash in North China was temporarily stable, and the market price of light soda ash was around 2,800-2,900 RMB/ton. According to data, the inventory of soda ash manufacturers is about 270,000 tons.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate was currently weak, and the supply of sodium bicarbonate was relatively abundant. In terms of raw material soda ash, recent price was consolidated. The downstream demand for sodium bicarbonate in medicine, textiles, food, and other aspects was relatively slow to follow up and the purchased mostly were based on demand, with a cautious purchasing sentiment. In addition, the supply was sufficient. It is comprehensively estimated that the price of sodium bicarbonate will be dominated by weak consolidation in the later stage, depending on the downstream market demand.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.