Price trend

According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate temporarily stabilized this week, with an average market price of 1,920 RMB/ton from the beginning of the week to the weekend, and a year-on-year decrease of 22.03%.

On August 17th, the baking soda 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 mainstream market price 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 strong. The average market price at the beginning of the week was 2,122 RMB/ton, while the average market price on the weekend was 2,140 RMB/ton, with a price increase of 0.85% and a decrease of 18.32% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate has remained temporarily stable recently. There was sufficient supply of sodium bicarbonate, 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 of soda ash purchases were more on demand recently, and the supply demand gamed. Overall, it is expected that the price of soda ash will be mainly 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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