SunSirs: The Sodium Bicarbonate Prices Increased Overall in April

Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate fell first and then rose overall this month. The average market price at the beginning of the month was 2,354 RMB/ton, and the average market price at the end of the month was around 2,356.4 RMB/ton, with a price increase of 0.08% and a year-on-year increase of 11.55%.

On April 29th, the sodium bicarbonate commodity index was 156.11 points, unchanged from the previous day, a decrease of 33.81% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 76.86% 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 SunSirs, the price of sodium bicarbonate had shown an upward trend in the latter half of this month, and downstream markets were purchasing on demand recently. As of April 30th, the price of sodium bicarbonate in China was relatively strong, with a 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 increased in April. The average market price of light soda ash at the beginning of the month was 1,940 RMB/ton, and the average market price at the end of the month was around 2,030 RMB/ton, with a price increase of 4.64%, a decrease of 23.4% compared to the same period last year. The prices of soda ash in central China had been consolidating, with the mainstream market for light soda ash quoting around 1,900-2,100 RMB/ton. The prices of soda ash in eastern China had been consolidating, with the mainstream market for light soda ash quoting around 1,950-2,200 RMB/ton.

Market outlook

According to analysts from SunSirs, the price of sodium bicarbonate had recently shown a strong trend, while the upstream raw material of soda ash had recently shown a stronger trend. Downstream pharmaceutical, textile, food and other sectors of sodium bicarbonate had mainly purchased according to demand, with moderate purchases. Supply and demand gamed. Overall, it is expected that the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.

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