Price trend
According to data from SunSirs, the price of sodium bicarbonate rose slightly this week. The average market price of sodium bicarbonate at the beginning of the week was 1,586.67 RMB/ton, and the average market price on weekends was 1,626.67 RMB/ton, an increase of 2.52%.
On June 25, the Sodium bicarbonate Commodity Index was 107.96, the same as previous day, a decrease of 11.28% from the highest point in the cycle of 121.68 points (2020-10-21), and an increase of 22.31% from the lowest point of 88.27 points on December 22, 2020. (Note: Period refers to 2020-09-01 to present)
Analysis review
According to SunSirs, the price of sodium bicarbonate was temporarily stable, and shipments of the downstream market were acceptable. The mainstream price of sodium bicarbonate market in Henan was about 1,550—1,650 yuan, and the downstream demand was acceptable. The price was expected to be stable in the near future. The mainstream price of sodium bicarbonate market in Hebei area was about 1,550-1,650 RMB/ton, and the downstream demand was acceptable.
In terms of raw materials: According to the monitoring data of SunSirs, soda ash in North China was temporarily operating steadily, and the mainstream market price of light soda ash was about 1,800-1,900 RMB/ton. Downstream glass mainly purchased soda ash on demand, and in the short term, the price of soda ash would be mainly consolidating. Soda ash was temporarily operating stably in East China. The mainstream market price of light soda ash was about 1,700-1850 RMB/ton. Downstream glass mainly purchased soda ash on demand, and in the short term, the price of soda ash would be mainly consolidating.
Demand side: In the downstream, medicine, textiles, and food mainly purchased sodium bicarbonate on demand, and the price of sodium bicarbonate would be consolidating in the near future.
Market outlook
SunSirs’analysts believe that: domestic soda ash prices are mainly stable operation, accompanied by small fluctuations, the market trading atmosphere is relatively stable, and manufacturers are actively shipping. At this stage, soda ash still has a large inventory but uneven distribution, and manufacturers adjust their quotations according to their own conditions. The downstream glass price is firm, but the downstream is still on the sidelines of high-priced soda ash. There is still a game between buyers and sellers in price, and more purchases are based on demand. Downstream medicine, textiles, food, etc. mainly purchase sodium bicarbonate on demand. On the whole, the price of sodium bicarbonate may maintain a narrow consolidation trend in the short term, depending on the downstream market demand.
