SunSirs: The Price of Sodium Bicarbonate Was Running to Be Weaker This Week (April 7-12)

Price trend

According to the commodity market analysis system of SunSirs, the price of sodium bicarbonate was weaker this week, with an average market price of 2,293.4 RMB/ton at the beginning of the week and 2,288.4 RMB/ton on the weekend, a decrease of 0.22% and a year-on-year increase of 7.06%.

On April 11th, the sodium bicarbonate commodity index was 152.00 points, unchanged from the previous day, a decrease of 35.55% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 72.20% 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 weaker, and downstream markets were purchasing on demand in recent times. As of April 12, 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. At the beginning of the week, the average market price was 1,920 RMB/ton, while on the weekend, the market price was 1,900 RMB/ton, a decrease of 1.04%, a decrease of 29.63% 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, with upstream raw materials such as soda ash experiencing recent fluctuations. Downstream pharmaceutical, textile, and food sectors of sodium bicarbonate had recently made more purchases according to demand, replenishing inventory in moderation, 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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