SunSirs: The Price of Sodium Bicarbonate Was Weak This Week (March 6-10)
March 13 2023 13:31:00 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the price of sodium bicarbonate this week was weak. The average market price at the beginning of the week was 2,435 RMB/ton, and the average market price at the weekend was 2,387.5 RMB/ton. The price fell 1.95%, down 5.51% year on year.
The sodium bicarbonate commodity index on March 9 was 161.61 points, which was the same as the previous day, down 31.47% from the cycle's highest point of 235.84 points (2021-11-10), and up 83.09% 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 demand in downstream market was general recently. On the 10th, the price of sodium bicarbonate in Henan was about 2,200-2,400 RMB/ton. Upstream soda ash: the price of light 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 2,800-2,900 RMB/ton. According to the data, the inventory of soda ash manufacturers was about 250,000 tons.
Market outlook
According to the analysts of SunSirs, the price of sodium bicarbonate had been weak and consolidated recently, and the price of raw soda ash was stable recently. The downstream of sodium bicarbonate, such as medicine, textile and food, purchased sodium bicarbonate mainly based on the 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.
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