Price trend
According to monitoring data from SunSirs the price of sodium bicarbonate has been weak this month, with an average market price of 1,580 RMB/ton at the beginning of the month and around 1,548 RMB/ton at the end of the month, a decrease of 2.03% and a year-on-year decrease of 34.18%.
On November 28th, the sodium bicarbonate commodity index was 102.74 points, unchanged from the previous day, a decrease of 56.44% from the highest point of 235.84 points during the cycle (2021-11-10), and an increase of 16.39% from the lowest point of 88.27 points on December 22, 2020. (Note: Cycle refers to September 1, 2020 to present)
Analysis review
According to the commodity analysis system of SunSirs the price of sodium bicarbonate was running weakly, and the company's shipments were still acceptable. The price of sodium bicarbonate in Henan region was consolidating and operating. The factory price of sodium bicarbonate in Henan region was around 1,400-1,550 RMB/ton. Due to downstream demand for purchasing, it is expected that consolidation and operation will be the main focus in the later stage.
Raw materials: According to monitoring data from SunSirs, the overall price of soda ash fell in November. At the beginning of the month, the average market price of light soda ash was 1,584 RMB/ton, and at the end of the month, the average market price was around 1,556 RMB/ton, a decrease of 1.77% and a decrease of 36.23% compared to the same period last year.
Market outlook
SunSirs’ analysts believe that the price of sodium bicarbonate has been consolidating recently, with a general trend in the upstream raw material soda ash market. Downstream areas of sodium bicarbonate, such as pharmaceuticals, textiles, and food, have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will mainly fluctuate in the later stage, depending on downstream market demand.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.