Price trend
According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate was relatively stronger this week, with an average market price of 2,225 RMB/ton at the beginning of the week and 2,250 RMB/ton at the weekend. The price had increased by 1.12% and decreased by 6.74% year-on-year.
On September 14th, the sodium bicarbonate commodity index was 149.34 points, unchanged from the previous day, a decrease of 36.68% from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 69.19% 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 product analysis system of SunSirs, the price of sodium bicarbonate was strongly running, and the downstream market was in relatively positive demand recently. The the mainstream market price of sodium bicarbonate in Henan region was around 2,000-2,400 RMB/ton. According to the product analysis system of SunSirs, the price of soda ash, the upstream of sodium bicarbonate, was relatively stronger. At the beginning of the week, the average market price was 3,000 RMB/ton, while on the weekend, the average market price was 3,060 RMB/ton, with a price increase of 2% and a decrease of 15.04% compared to the same period last year.
Market outlook
Analysts from SunSirs believe that the price of sodium bicarbonate was relatively stronger in recent times. On the one hand, sodium bicarbonate manufacturers were experiencing tight supply recently, and on the other hand, the upstream raw material of sodium bicarbonate, soda ash, was stronger in recent times. Finally, downstream pharmaceutical, textile, food and other aspects of sodium bicarbonate had good demand recently, and they were actively purchasing sodium bicarbonate. The shipping sentiment was better than before. Overall, it is expected that sodium bicarbonate prices will be mainly stronger in the future, depending on downstream market demand.
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