Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate at the beginning of the week was 1,543.2 RMB/ton, and the average market price of sodium bicarbonate at the end of the week was 1,541.6 RMB/ton, a decrease of 0.1% and a decrease of 35.59% compared to the same period last year.

On March 6th, the Business Society Sodium bicarbonate Index was 102.32 points, up 0.09 points from the previous day, down 56.61% from the highest point of 235.84 points during the cycle (November 10, 2021), and up 15.92% 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 steadily, 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 procurements were mostly based on demand, it is expected that consolidation will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash has remained stable this week. The average market price from the beginning of the week to the end of the week was 1,518 RMB/ton, a decrease of 25.95% compared to the same period last year, and downstream purchases were mostly made on demand.

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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