SunSirs: Sodium Bicarbonate Prices Were Running Weakly Last Week (April 21-27)

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 1,361 RMB/ton, and the average market price of sodium bicarbonate over the weekend was 1,294.2 RMB/ton, a decrease of 4.91% in price and a decrease of 44.62% compared to the same period last year.

On April 26th, the SunSirs' sodium bicarbonate Index was 85.90 points, unchanged from the previous day and hitting a historic low for the cycle, a decrease of 63.58% from the highest point of 235.84 points on November 10, 2021. (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 running weakly, with a factory price of 1,300-1,450 RMB/ton in Henan region and 1,400-1,600 RMB/ton in Shandong region. Due to downstream demand driven procurement, it is expected that weak operations will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash had remained stable last week. The average market price from the beginning of the week to the end of the week was 1,400 RMB/ton, a decrease of 30% compared to the same period last year. Downstream buyers tended to purchase on demand.

Market outlook

SunSirs' analysts believe that the price of sodium bicarbonate has been weak in recent times, while the upstream raw material soda ash has been generally operating. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand, with average demand enthusiasm. 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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