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SunSirs: The Sodium Bicarbonate Price Was Consolidated This week (February 20-24)

February 27 2023 14:38:13     SunSirs (John)

Price trend

According to the monitoring data of SunSirs, the price of sodium bicarbonate this week was in consolidation operation. The average market price from the beginning of the week to the end of the week was 2,437.5 RMB/ton, with a price drop of 0.31% and a year-on-year decrease of 3.78%.

The sodium bicarbonate commodity index on February 23 was 161.78, which was the same as the previous day, down 31.40% from the cycle's highest point of 235.84 points (2021-11-10), and up 83.28% from the lowest point of 88.27 points on December 22, 2020. (Note: the period refers to the period from September 1, 2020 to now)

Analysis review

According to SunSirs, the price of sodium bicarbonate was weak and consolidated, and the downstream market demand was general recently. On the 24th, the price of sodium bicarbonate in Henan was about 2,300-2,500 RMB/ton. The price of upstream soda ash in East China was about 2,700-2,900 RMB/ton in the mainstream market. The price of soda ash in North China was temporarily stable, and the market price of light soda ash was about 2,800-2,850 RMB/ton. According to the data, the inventory of soda ash manufacturers was about 290,000 tons.

Market outlook

According to the analyst of SunSirs, the price of sodium bicarbonate had recently consolidated, and the operation of sodium bicarbonate device was relatively stable after the year. Although the price of raw soda was temporarily stable recently, the downstream of sodium bicarbonate, such as medicine, textile and food, mainly purchases sodium bicarbonate on demand. It is comprehensively estimated that the price of sodium bicarbonate will be dominated by weak consolidation operation in the later stage, depending on the downstream market demand.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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