Price trend

According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate had temporarily stabilized this week. The average market price from the beginning of the week to the weekend was around 1,921.5 RMB/ton, a 25% decrease compared to last year.

On August 3rd, the sodium bicarbonate commodity index was 126.94 points, unchanged from the previous day, a decrease of 46.18% from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 43.81% 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 moderate demand recently. As of August 4th, the 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 of sodium bicarbonate maintained a stable price with minor fluctuations. According to the Commodity Analysis System of SunSirs, the price of soda ash was strong. The average market price at the beginning of the week was 2,060 RMB/ton, while the average market price on the weekend was 2,106 RMB/ton, with a price increase of 2.23% and a decrease of 23.42% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had maintained consolidating recently. The supply of sodium bicarbonate was sufficient, and the price of raw material soda ash was strong recently. The operating rate of soda ash was relatively stable, and the overall trading atmosphere was average. Downstream soda ash purchases were more on demand recently, and the supply-demand gamed. Overall, it is expected that the price of sodium bicarbonate will mainly be strong in the later stage, and the price of sodium bicarbonate will be consolidated in the later stage, depending on the downstream market demand.

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