Price trend

According to the commodity market analysis system of SunSirs, the price of sodium bicarbonate had been improving this week. The market average price on November 22 was 2,200 RMB/ton, and on November 29 it was 2,352 RMB/ton, with a price increase of 6.91% and a year-on-year decrease of 6.94%.

On November 28th, the sodium bicarbonate commodity index was 151.82 points, an increase of 1.65 points from the previous day, a decrease of 35.63% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 72.00% from the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1, 2020 to present)

Analysis review

According to the commodity analysis system of SunSirs, the price of sodium bicarbonate was strong and the downstream market was purchasing on demand in the recent times. As of November 29th, the price of sodium bicarbonate in China was strong and the mainstream market quotation was around 2,100-2,400 RMB/ton. According to the product analysis system of SunSirs, the price of soda ash in the upstream of sodium bicarbonate remained strong. The price of soda ash in North China was strong, with mainstream market prices for light soda ash around 2,400-2,550 RMB/ton. In East China, the price of soda ash was strong, with mainstream market prices for light soda ash around 2,400-2,600 RMB/ton.

Import and export: According to customs statistics, the import volume of formic acid in China was 119 kilograms in October 2023, a year-on-year decrease of about 87.98%. In October 2023, the export volume of formic acid in China was 21,154,110 kilograms, a year-on-year increase of about 1.83%.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had been strong in recent times, and the upstream raw material of soda ash had been strong in recent times. The downstream demand for sodium bicarbonate, including pharmaceuticals, textiles, and food, was still acceptable. Supported by raw materials, it is expected that sodium bicarbonate prices will remain strong in the future, depending on downstream market demand.

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