SunSirs: The Sodium Bicarbonate Prices Were Weak in March

Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate had been weak this month, with an average market price of 2,459 RMB/ton at the beginning of the month and around 2,356 RMB/ton at the end of the month. The price had decreased by 4.19% and increased by 8.32% year-on-year.

On March 28th, the sodium bicarbonate commodity index was 156.44 points, a decrease of 0.06 points from the previous day, a decrease of 33.67% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 77.23% 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 had been weak this month, and downstream markets were purchasing on demand in recent times. As of March 29th, the price of sodium bicarbonate in China was running weakly, with the mainstream market quotation of around 1,900-2,400 RMB/ton.

Raw materials: According to monitoring data from SunSirs, the overall price of soda ash was weak in March. The average market price of light soda ash at the beginning of the month was 2,190 RMB/ton, and the average market price at the end of the month was around 1,940 RMB/ton, a decrease of 11.42%, and a decrease of 29.71% 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, and the upstream raw material light soda ash had been weak in recent times. Downstream pharmaceutical, textile, food and other aspects of sodium bicarbonate were mainly purchasing on demand in recent times, and it is expected that the price of sodium bicarbonate will fluctuate mainly in the later period, depending on downstream market demand.

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