SunSirs: This Week, Sodium Bicarbonate Prices Had Been Consolidating (January 29-February 2)

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of sodium bicarbonate had been consolidating this week, with an average market price of 2,507 RMB/ton at the beginning of the week and 2,506 RMB/ton at the end of the week, a decrease of 0.04% in price and a year-on-year decrease of 0.85% in price.

On February 2nd, the sodium bicarbonate commodity index was 166.33 points, unchanged from the previous day, a decrease of 29.47% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 88.43% 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 consolidating and downstream markets were purchasing on demand recently. As of February 2nd, the price of sodium bicarbonate in China was consolidating, with a mainstream market quotation of around 2,200-, RMB/ton.

According to the commodity analysis system of SunSirs, the price of soda ash had been consolidating this week. The average market price at the beginning of the week was 2,380 RMB/ton, and the average market price on the weekend was 2,370 RMB/ton, a decrease of 0.42%, and a decrease of 12.35% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had recently stabilized, and the upstream raw material soda ash had recently stabilized the market. Downstream pharmaceutical, textile, food, and other sectors of sodium bicarbonate hadve been stocking up on demand before the Spring Festival, resulting in a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will mainly consolidate in the later stage, depending on downstream market demand.

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