SunSirs: The Price of Sodium Bicarbonate Was Weaker This Week (March 18-22)

Price trend

According to the commodity market analysis system of SunSirs, the price of sodium bicarbonate was weak this week, with an average market price of 2,383.4 RMB/ton at the beginning of the week and 2,361.2 RMB/ton on the weekend, a decrease of 0.93% and an increase of 8.56% year-on-year.

On March 21, the sodium bicarbonate commodity index was 156.72 points, a decrease of 1.38 points from the previous day, a decrease of 33.55% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 77.55% 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 running weakly, and downstream markets were purchasing on demand in recent times. As of March 22, the price of sodium bicarbonate in China was running weakly, with the mainstream market quotation of around 1,900-2,400 RMB/ton.

According to the Commodity Analysis System of SunSirs, the price of soda ash had been weak this week. The average market price at the beginning of the week was 2,040 RMB/ton, while the weekend market price was 1,980 RMB/ton, a decrease of 2.94%, a decrease of 28.52% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had been weak in recent times, while the upstream raw material soda ash had temporarily stabilized. Downstream pharmaceutical, textile, food and other sectors of sodium bicarbonate had recently made more purchases according to demand, replenishing inventory in an appropriate amount, without any positive support. It is expected that sodium bicarbonate prices will mainly fluctuate in the later stage, depending on downstream market demand.

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