Price trend

According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate was weak this week, with an average market price of 2,092.5 RMB/ton at the beginning of the week and 2,075 RMB/ton at the weekend. The price fell by 0.84%, and a year-on-year decrease of 24.09%.

On May 14th, the sodium bicarbonate commodity index was 138.55 points, unchanged from the previous day, a 41.25% decrease from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 56.96% from the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1st, 2020 to the present)

Analysis review

According to the Commodity Analysis System of SunSirs, the price of sodium bicarbonate was weak and consolidating, with most downstream markets experiencing average demand recently. On the 15th, the mainstream market quotation for sodium bicarbonate in Henan province was around 1,900-2,200 RMB/ton.

According to the product analysis system of SunSirs, the upstream soda ash price of sodium bicarbonate was operating to be weaker this week. At the beginning of the week, the average market price was around 2,600 RMB/ton, while on the weekend, the average market price was 2,530 RMB/ton, a price drop of 2.69%, and a year-on-year decrease of 7.16% compared to last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate was weak in recent times. The supply of sodium bicarbonate was sufficient, and the price of raw soda ash was weak recently. The downstream demand for sodium bicarbonate in medicine, textiles, food, and other areas was average. For sodium bicarbonate, it was mainly purchased according to demand, with a cautious purchasing sentiment. Overall, it is expected that the price of sodium bicarbonate will be mainly weak in the later stage, depending on the downstream market demand.

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