Price trend
According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate was consolidating this week, with an average market price of around 1,912.5 RMB/ton at the beginning of the week and 1,920 RMB/ton at the end of the week. The price had increased by 0.39% and decreased by 24.21% year-on-year.
On August 10th, 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 had average demand recently. As of August 11th, the mainstream market quotation of sodium bicarbonate in Henan region was around 1,600-2,000 RMB/ton. According to the product analysis system of SunSirs, the price of upstream soda ash was strongly operating. At the beginning of the week, the average market price was 2,116 RMB/ton, while on the weekend, the average market price was 2,122 RMB/ton, with a price increase of 0.28%, and a decrease of 21.12% compared to the same period last year.
Market outlook
Analysts from SunSirs believe that the price of sodium bicarbonate had maintained a consolidation trend recently, with sufficient supply of sodium bicarbonate and strong prices in the raw material of soda ash. The operating rate of soda ash was relatively stable, and the overall trading atmosphere was average. Downstream of soda ash purchases were mostly on demand recently. The supply-demand gamed, overall, it is expected that the price of soda ash will continue to be strong in the later stage, and the price of sodium bicarbonate will be mainly stable with small changes in the later stage, depending on the downstream market demand.
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