SunSirs: Sodium Bicarbonate Prices Were Running Weakly This Week (August 19-23)
August 27 2024 09:09:30 SunSirs (John)
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 1,940 RMB/ton, and the average market price of sodium bicarbonate at the weekend was 1,911 RMB/ton, with a price drop of 1.49%.
On August 25th, the sodium bicarbonate commodity index was 126.84 points, unchanged from the previous day, a decrease of 46.22% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 43.70% 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 declining, with a factory price of around 1,400-1,500 RMB/ton. Due to poor downstream demand, it is expected to operate weakly in the later stage.
Upstream: According to the commodity analysis system of SunSirs, the price of soda ash had been running weakly this week. As of August 23rd, the average market price was 1,810 RMB/ton.
Market outlook
SunSirs’ analysts believe that the price of sodium bicarbonate had been weak in recent times, and the upstream raw material soda ash has been weak in recent times. Downstream industries such as pharmaceuticals, textiles, and food had been purchasing on demand, with average demand enthusiasm and a supply-demand gamed. Overall, it is expected that the price of sodium bicarbonate will be weaker in the later period, depending on downstream market demand.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
