Price trend

According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate stabilized this week, with an average market price of 1,930 RMB/ton at the beginning of the week and around 1,917.5 RMB/ton at the weekend. The price had decreased by 0.65%, and a year-on-year decrease of 30.24%.

On July 13th, the sodium bicarbonate commodity index was 128.10 points, unchanged from the previous day, a decrease of 45.68% from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 45.12% 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 Commodity Analysis System of SunSirs, the price of sodium bicarbonate had been consolidating and the downstream market had average demand recently. The current price of sodium bicarbonate in Henan region is around 1,700-2,100 RMB/ton, which is the mainstream market quotation. According to the product analysis system of SunSirs, the upstream soda ash has maintained a stable price with minor fluctuations. At the beginning of the week, the average market price of light soda ash was 1,970 RMB/ton, while on the weekend, the average market price was 1,980 RMB/ton, with a price increase of 0.51% and a decrease of 31.49% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate remained being consolidated. The supply of sodium bicarbonate was sufficient, and the price of raw material soda ash was stable and with small changes recently. The operating rate of soda ash plants was relatively stable, and the overall trading atmosphere was acceptable. Downstream soda ash purchases were more on demand recently, and the supply and demand gamed. Overall, it is expected that the price fluctuation of soda ash will be the main trend in the later stage. The downstream demand for baking soda in medicine, textiles, food, and other areas was average. For baking soda, they mainly purchased according to demand, with a cautious purchasing sentiment. Based on the supply and demand game, it is expected that the price of baking soda will mainly consolidate and operate in the later stage, depending on the downstream market demand.

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