Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate had been consolidating this month. The average market price at the beginning of the month was 1,548 RMB/ton, and the average market price at the end of the month was around 1,546 RMB/ton, a decrease of 0.13% and a year-on-year decrease of 42.49%.

On December 30th, the SunSirs Sodium bicarbonate Index was 102.61 points, unchanged from the previous day, a decrease of 56.49% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 16.25% 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 operating steadily, with a factory price of 1,450-1,550 RMB/ton in Henan region and 1,500-1,750 RMB/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation 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 December. At the beginning of the month, the average market price of light soda ash was 1,556 RMB/ton, and at the end of the month, the average market price was around 1,538 RMB/ton, a decrease of 1.16% and a decrease of 44.87% 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.

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