SunSirs: Sodium Bicarbonate Prices Were Temporarily Stable This Week (February 24-27)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate from the beginning of the week to the weekend was 1,545.6 RMB/ton, a decrease of 37.22% compared to the same period last year.

On February 26th, the SunSirs’ Sodium bicarbonate Index was 102.58, unchanged from the previous day, a decrease of 56.50% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 16.21% 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 1,400-1,550 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.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash has been consolidating this week. The average market price at the beginning of the week was 1,420 RMB/ton, and the average market price over the weekend was 1,460 RMB/ton, with a price increase of 2.82%. Downstream buyers tended to purchase on demand.

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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