SunSirs: Sodium Bicarbonate Prices Were Consolidating Last Week (July 21-25)

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 1,253.6 RMB/ton, and the average market price of sodium bicarbonate at the end of the week was 1,253 RMB/ton, a decrease of 0.05% in price and a decrease of 42.65% compared to the same period last year.

On July 24th, the SunSirs’ sodium bicarbonate Index was 83.18 points, a decrease of 0.02 points from the previous day, setting a historical low for the cycle, and a decrease of 64.73% 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 steadily, and the company's shipments were still acceptable. The price of sodium bicarbonate in Henan region was running weakly, with a factory price of 1,270 RMB/ton in Henan region and 1,200-1,300 RMB/ton in Shandong region. Due to downstream procurement mostly based demand, it is expected that consolidation and operation will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash was consolidating last week. The average market price at the beginning of the week was 1,166 RMB/ton, and the average market price over the weekend was 1,198 RMB/ton, with a price increase of 2.74% and a decrease of 37.8% 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 consolidating recently, and the upstream raw material soda ash has also been consolidating recently. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, and demand enthusiasm for sodium bicarbonate was still acceptable. 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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