Price trend
According to the monitoring data of SunSirs, the price of sodium bicarbonate was operating in a consolidation, and the average market price was 2,216.67 RMB/ton. On September 17, the Sodium bicarbonate Commodity Index was 147.12, which was the same as previous day, setting a new historical high in the cycle, an increase of 66.67% from the lowest point of 88.27 on December 22, 2020. (Note: Period refers to 2020-09-01 to present)
Analysis review
According to SunSirs, the price of sodium bicarbonate was operating stably, and the downstream market recently purchased on-demand. As of September 18, the price of sodium bicarbonate in Henan was 2,150 RMB/ton-2,250 RMB/ton, the downstream demand was fair, and the price trend was expected to be stable in the near future. The price of sodium bicarbonate in Hebei area is about 2,150 RMB/ton-2,300 RMB/ton in the mainstream market, the downstream demand was acceptable and the price trend was expected to be firm in the later period.
In terms of raw materials: According to the monitoring data of SunSirs, the price of soda ash was on the strong side. The price of soda ash in North China was relatively strong, and the market price of light soda ash was about 2,350-2,500 RMB/ton. The actual transaction was low and the transaction was fair. Downstream purchased more cautiously, and were resistant to high-priced soda ash.
In terms of demand: the recent demand for sodium bicarbonate in downstream medicine, textiles, and food was general, and the price of sodium bicarbonate was consolidating recently.
Market outlook
SunSirs’analysts believe that the price of soda ash, the upstream raw material of sodium bicarbonate, was strong, and the downstream medicine, textile, food, etc. had general demand for sodium bicarbonate. However, due to the high price of raw materials, the price of sodium bicarbonate might be consolidated in the short term, depending on the market demand of downstream.
