SunSirs: The Sodium Bicarbonate Prices Was Weak in February
March 01 2024 10:12:40 SunSirs (John)
Price trend
According to monitoring data from SunSirs, the price of sodium bicarbonate had been weak this month, with an average market price of 2,506 RMB/ton at the beginning of the month and around 2,460.1 RMB/ton at the end of the month. The price has decreased by 1.82% and increased by 1.04% year-on-year.
On February 28th, the sodium bicarbonate commodity index was 163.30 points, a decrease of 0.11 points from the previous day, a decrease of 30.76% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 85.00% 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 SunSirs, the price of sodium bicarbonate was weak in February, and downstream markets had been purchasing on demand recently. As of February 28th, the price of sodium bicarbonate in China was running weakly, with mainstream market quotes of around 2,100-2,600 RMB/ton.
Raw materials: According to monitoring data from SunSirs, the overall price of soda ash was weak in February. The average market price of light soda ash at the beginning of the month was 2,580 RMB/ton, and the average market price at the end of the month was around 2,190 RMB/ton, with a price drop of 15.12%, and a decrease of 20.94% compared to the same period last year.
Market outlook
According to analysts from SunSirs, the price of sodium bicarbonate had been weak recently, and the upstream raw material soda ash had been weak recently. After the Spring Festival, downstream areas such as medicine, textiles, and food will mainly purchase according to demand. It is expected that sodium bicarbonate prices will continue to consolidate in the later stage, depending on downstream market demand.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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