Price trend

According to the commodity market analysis system of Shengyishe, the price of sodium bicarbonate was weak this week, with an average market price of 2,481 RMB/ton at the beginning of the week and 2,466 RMB/ton on the weekend, a decrease of 0.6% and a year-on-year increase of 1.17%.

On February 22, the sodium bicarbonate commodity index was 163.80 points, a decrease of 0.03 points from the previous day, a decrease of 30.55% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 85.57% 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 weak and downstream markets were purchasing on demand recently. As of February 23rd, the price of sodium bicarbonate in China is running weakly, with a mainstream market quotation of around 2,100-2,600 RMB/ton. According to the commodity analysis system of SunSirs, the price of soda ash fluctuated this week. The average market price at the beginning of the week was 2,370 RMB/ton, and the average market price on the weekend was 2,270 RMB/ton, a decrease of 4.22%, a decrease of 18.05% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had been weak in recent times, with a weak trend in the upstream raw material of soda ash. Downstream pharmaceutical, textile, food and other sectors of sodium bicarbonate have recently made more purchases according to demand, with moderate replenishment. It is expected that sodium bicarbonate prices will mainly fluctuate in the later stage, depending on downstream market demand.

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