Price trend:

According to the SunSirs commodity market analysis system, the average market price of sodium bicarbonate was 1,225 RMB/ton at the beginning of the week and 1,220 RMB/ton at the weekend, a 0.41% decrease and a 23.61% drop compared to the same period last year.

On October 23rd, the SunSirs sodium bicarbonate Index was 80.97 points, unchanged from the previous day, hitting a new low within the cycle and down 65.67% from the peak of 235.84 points on November 10, 2021. (Note: The cycle refers to the period from September 1, 2020 to the present.)

Analysis review

According to the SunSirs commodity analysis system, sodium bicarbonate prices were weak, and companies were still shipping well. Sodium bicarbonate prices were weak in Henan Province, with ex-factory prices ranging from 1,080 to 1,200 RMB/ton in Henan Province and 1,200 to 1,300 RMB/ton in Shandong Province. As downstream companies were primarily purchasing on demand, a period of consolidation is expected in the later period.

Upstream: According to the SunSirs commodity analysis system, soda ash prices were consolidating last week. The average market price from the beginning of the week to the end of the week was 1,186 RMB/ton, down 25.6% from the same period last year. Downstream companies were primarily purchasing on demand.

Market Forecast:

Analysts at SunSirs believe that sodium bicarbonate prices were weak recently, with upstream raw material soda ash experiencing a period of consolidation. Downstream sectors such as pharmaceuticals, textiles, and food are primarily purchasing on-demand, indicating reasonable demand. Overall, sodium bicarbonate prices are expected to fluctuate in the coming period, depending on downstream market demand.

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