Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate has been running weakly this month, with an average market price of 1,563.2 RMB/ton at the beginning of the month and around 1,543.2 RMB/ton at the end of the month. The price has dropped by 1.28%, a year-on-year decrease of 37.28%.

On February 26th, the SunSirs’ Sodium bicarbonate Index was 102.58 points, unchanged from the previous day, a decrease of 56.50% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 16.21% 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 1,400-1,550 RMB/ton in Henan region and 1,500-1,700 RMB/ton in Shandong region. Due to downstream demand based procurement, 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 February. The average market price of light soda ash at the beginning of the month was 1,494 RMB/ton, and the average market price at the end of the month was around 1,460 RMB/ton, a decrease of 2.28% and 33.33% compared to the same period last year.

Market outlook

According to analysts from SunSirs, the price of sodium bicarbonate has been consolidating recently, with the overall weak performance of the upstream raw material soda ash in February. Downstream areas such as pharmaceuticals, textiles, and food have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. It is expected that sodium bicarbonate prices will mainly fluctuate in the later period, depending on downstream market demand.

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