SunSirs: The Price of Sodium Bicarbonate Remained Weak on August 28th
August 29 2024 08:54:23 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate on August 28th was 1,870 RMB/ton.
On August 27th, the sodium bicarbonate commodity index was 124.11 points, a decrease of 0.07 points from the previous day, a decrease of 47.38% from the cycle high of 235.84 points (2021-11-10), and an increase of 40.60% 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 1,400-1,600 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 has been running weakly this week. The average market price was 1,810 RMB/ton.
Market outlook
SunSirs’ analysts believe that the price of sodium bicarbonate has been weak recently, and the upstream raw material soda ash has been weak recently. Downstream industries 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 the price of sodium bicarbonate will be weaker in the later stage, depending on downstream market demand.
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