Price trend:

According to data monitored by SunSirs, the price of sodium bicarbonate remained weak this month. The average market price at the beginning of the month was 1,245 RMB/ton, and the average market price at the end of the month was around 1,220 RMB/ton, a decrease of 2.01%, and a year-on-year decrease of 22.88%.

On October 30th, the SunSirs sodium bicarbonate index was 80.97 points, unchanged from the previous day, hitting a new historical low within the cycle, a decrease of 65.67% from the highest point of 235.84 points on November 10, 2021. (Note: The cycle refers to September 1, 2020 to present)

Analysis review

According to the commodity analysis system of SunSirs, the price of sodium bicarbonate was trending weakly, with enterprises experiencing moderate sales. In Henan province, the ex-factory price of sodium bicarbonate was between 1,080-1,200 RMB/ton, while in Shandong province it was between 1,200-1,300 RMB/ton. As downstream buyers were mostly purchasing on an as-needed basis, the market is expected to remain range-bound in the near future.

Raw Materials: According to data monitored by SunSirs, the price of soda ash was weak in October. The average market price of light soda ash at the beginning of the month was 1,182 RMB/ton, and the average market price at the end of the month was around 1,186 RMB/ton, an increase of 0.34%, and a 25.13% increase compared to the same period last year.

Market Forecast:

According to analysts of SunSirs, the price of sodium bicarbonate was weak recently. While the upstream raw material, soda ash, was generally strong in July, downstream industries such as pharmaceuticals, textiles, and food were purchasing mainly on an as-needed basis, resulting in weak demand. Given this supply-demand dynamic, the price of sodium bicarbonate is expected to fluctuate in the near future, depending on downstream market demand.

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