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 1,917.5 RMB/ton at the beginning of the week and around 1,920 RMB/ton at the weekend. The price increased by 0.13% and decreased by 28% compared to last year.

On July 20th, the sodium bicarbonate commodity index was 127.43 points, unchanged from the previous day, a decrease of 45.97% from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 44.36% 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 was consolidating and the downstream market saw average demand recently. The current price of sodium bicarbonate in Henan region was around 1,700-2,100 RMB/ton, which was the mainstream market quotation. According to the product analysis system of SunSirs, the upstream soda ash had maintained a stable price with minor fluctuations. According to the Commodity Analysis System of SunSirs, the price of soda ash was temporarily stable. The average market price from the beginning of the week to the weekend was 1,980 RMB/ton, a decrease of 31.25% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate remained being consolidated recently, the supply of sodium bicarbonate was sufficient and the raw material soda ash prices were stable. The operating rate of soda ash plants was relatively stable, and the overall trading atmosphere was acceptable. Downstream of soda ash purchases were more on demand recently, the supply and demand gamed. Overall, it is expected that the price of soda ash will mainly fluctuate in the later stage. Downstream pharmaceuticals, textiles, food, and other aspects had average demand for sodium bicarbonate, and mainly purchased on on-demand, with cautious purchasing sentiment. Supply and demand gamed, overall, it is expected that the price of sodium bicarbonate will mainly be consolidated in the future, depending on downstream market demand.

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