SunSirs: Sodium Bicarbonate Prices Were Running to Be Weaker This Week (January 13-20)

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 1,559.6 RMB/ton, and the average market price of sodium bicarbonate at the end of the week was 1,554.2 RMB/ton, a decrease of 0.35% in price and a decrease of 39.08% compared to the same period last year.

On January 19th, the Business Society Sodium bicarbonate Index was 103.15 points, unchanged from the previous day, a decrease of 56.26% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 16.86% 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 1,450-1,550 RMB/ton in Henan region and 1,500-1,850 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.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash has been consolidating this week. The current market average price was 1,494 RMB/ton, and downstream customers tended to purchase according to their needs.

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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