Price trend

According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate was operating to be weaker this week. On October 7th, the average market price was 2,275 RMB/ton, and on the weekend, the average market price was 2,162.5 RMB/ton, a decrease of 4.95%, and a year-on-year decrease of 17.22%.

On October 12th, the baking soda commodity index was 143.53 points, unchanged from the previous day, a decrease of 39.14% from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 62.60% 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 relatively weaker, and downstream markets were purchasing on demand recently. As of 13th, the mainstream market quotation of sodium bicarbonate in Henan region was around 1,900-2,100 RMB/ton. According to the product analysis system of SunSirs, the price of soda ash upstream was relatively weaker. On October 7th, the average market price was 3,070 RMB/ton, while on the weekend, the average market price was 2,960 RMB/ton, a decrease of 3.58% and an increase of 11.28% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had recently consolidated, supply of sodium bicarbonate was sufficient. The upstream raw material of soda ash had recently been weaker, and downstream pharmaceutical, textile, food and other aspects of sodium bicarbonate mainly purchased on demand recently. Overall, it is expected that the price of sodium bicarbonate will be mainly consolidated in the future, depending on the downstream market demand.

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