Price trend
According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate was stronger this week, with an average market price of 2,175 RMB/ton at the beginning of the week and 2,225 RMB/ton at the weekend. The price increased by 2.3% and decreased by 7.29% year-on-year.
On September 7th, the sodium bicarbonate commodity index was 146.02 points, an increase of 1.66 points from the previous day, a decrease of 38.09% from the cycle's highest point of 235.84 points (2021-11-10), and a 65.42% increase from the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1st, 2020 to the present)
Analysis review
According to the product analysis system of SunSirs, the price of sodium bicarbonate was strongly running, and the downstream market had positive demand recently. As of September 8th, the mainstream market quotation price of sodium bicarbonate in Henan region was around 2,000-2,400 RMB/ton. According to the product analysis system of SunSirs, the price of upstream soda ash was stronger. At the beginning of the week, the average market price was 2,950 RMB/ton, while on the weekend, the average market price was 3,000 RMB/ton, with a price increase of 1.69% and a decrease of 13.21% compared to the same period last year.
Market outlook
Analysts from SunSirs believe that the price of sodium bicarbonate was stronger recently. On the one hand, sodium bicarbonate manufacturers were experiencing tight supply recently, and on the other hand, the upstream raw material of sodium bicarbonate, soda ash, was stronger recently. Finally, downstream pharmaceutical, textile, food and other aspects of sodium bicarbonate had good demand recently, and they were actively purchasing sodium bicarbonate. The shipping sentiment was better than before. Overall, it is expected that sodium bicarbonate prices will be mainly stronger in the future, depending on downstream market demand.
