SunSirs: Sodium Bicarbonate Prices Continued to Decline in August
September 02 2024 14:06:40 SunSirs (John )
Price trend
According to monitoring data from SunSirs, the price of sodium bicarbonate had been declining this month. The average market price at the beginning of the month was 2,134 RMB/ton, and the average market price at the end of the month was around 1,858 RMB/ton, a decrease of 12.93% and a year-on-year decrease of 12.56%.
On August 29th, the sodium bicarbonate commodity index was 124.00 points, a decrease of 0.11 points from the previous day, a decrease of 47.42% from the cycle high of 235.84 points (2021-11-10), and an increase of 40.48% 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 SunSirs, the price of sodium bicarbonate had been weak this month, and downstream markets had been purchasing according to demand in the recent times. As of August 30th, the domestic price of sodium bicarbonate was running weakly, with the mainstream ex factory price in Henan region being around 1,400-1,600 RMB/ton.
Raw materials: According to monitoring data from SunSirs, the overall price of soda ash fell in August. At the beginning of the month, the average market price of light soda ash was 1,884 RMB/ton, and at the end of the month, the average market price was around 1,810 RMB/ton, a decrease of 3.93% and a decrease of 37.73% compared to the same period last year.
Market outlook
According to analysts from SunSirs, the price of sodium bicarbonate had been weak in recent times, and the upstream raw material soda ash had been weak in recent times. Downstream industries such as pharmaceuticals, textiles, and food had been mainly purchasing according to demand, with moderate purchases. Supply and demand gamed, overall, it is expected that the price of baking soda will be weaker in the later period, depending on downstream market demand.
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