SunSirs: The Sodium Bicarbonate Market Was Weak Overall in April

Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate has been running weakly this month. The average market price at the beginning of the month was 1,498 RMB/ton, and the average market price at the end of the month was around 1,290.4 RMB/ton, a decrease of 13.86% and a year-on-year decrease of 45.24%.

On April 29th, the SunSirs’ sodium bicarbonate Index was 85.90 points, unchanged from the previous day and hitting a historic low for the cycle, a decrease of 63.58% from the highest point of 235.84 on November 10, 2021. (Note: Cycle refers to September 1, 2020 to present)

Analysis review

According to the commodity analysis system of SunSirs, the price of sodium bicarbonate was running weakly, and the company's shipments were still acceptable. The price of sodium bicarbonate in Henan region was running weakly, with a factory price of 1,300-1,450 RMB/ton in Henan region and 1,400-1,600 RMB/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage.

Raw materials: According to monitoring data from SunSirs, the overall price of soda ash fell in April. At the beginning of the month, the average market price of light soda ash was 1,434 RMB/ton, and at the end of the month, the average market price was around 1,408 RMB/ton, a decrease of 1.81% compared to the same period last year, which was 30.64%.

Market outlook

SunSirs’ analysts believe that the price of sodium bicarbonate has been weak in recent times, with the overall weak performance of upstream raw material soda ash in March. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will mainly fluctuate in the later stage, depending on downstream market demand.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.