SunSirs: Sodium Bicarbonate Prices Were Consolidating Last Week (June 16-20)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate at the beginning of the week was 1,272.4 RMB/ton, and the average market price of sodium bicarbonate at the end of the week was 1,272 RMB/ton, a decrease of 0.03% and a decrease of 46.19% compared to the same period last year.

On June 19th, the SunSirs’ sodium bicarbonate Index was 84.37 points, a decrease of 0.03 points from the previous day, setting a historical low for the cycle, and a decrease of 64.23% from the highest point of 235.84 points 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 1,200-1,300 RMB/ton in Henan region and 1,300-1,400 RMB/ton in Shandong region. Due to downstream demand driven procurement, it is expected that weak operations will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash remained stable last week. The average market price from the beginning of the week to the end of the week was 1,304 RMB/ton, a decrease of 38.05% compared to the same period last year. Downstream buyers tended to purchase on demand.

Market outlook

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

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