Price trend
According to monitoring data from SunSirs, the price of sodium bicarbonate has been running weakly this month. The average market price at the beginning of the month was 1,543.2 RMB/ton, and the average market price at the end of the month was around 1,506 RMB/ton, a decrease of 2.41% and a year-on-year decrease of 36.08%.
On March 30th, the SunSirs sodium bicarbonate Index was 100.75 points, unchanged from the previous day, a decrease of 57.28% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 14.14% 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 March. At the beginning of the month, the average market price of light soda ash was 1,498 RMB/ton, and at the end of the month, the average market price was around 1,470 RMB/ton, a decrease of 1.87% compared to the same period last year, which was 24.23%.
Market outlook
SunSirs’ analysts believe that the price of sodium bicarbonate has been weak in recent times, with the overall weak performance of upstream raw material soda ash in March. Downstream industries 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 sodium bicarbonate prices will mainly fluctuate in the later period, depending on downstream market demand.
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