SunSirs:On August 18, the Price of Sodium Bicarbonate Was Consolidating

Price trend

According to the SunSirs commodity market analysis system, sodium bicarbonate prices were consolidating on August 18th, with the average market price at 1,249.4 RMB/ton, down 36.26% from the same period last year.

On August 17th, the SunSirs’sodium bicarbonate index was 82.94 points, unchanged from the previous day, hitting a new low within the cycle and down 64.83% from the peak of 235.84 points on November 10, 2021. (Note: The cycle refers to the period from September 1, 2020 to the present.)

Analysis review

According to the SunSirs commodity analysis system, sodium bicarbonate prices were temporarily stable, with companies experiencing healthy shipments. sodium bicarbonate prices were weak in Henan Province, with ex-factory prices hovering around 1,200 RMB/ton and in Shandong Province between 1,200 and 1,300 RMB/ton. Due to downstream purchased mainly on demand, it is expected that the market will mainly run weakly in the later period.

Upstream: According to the SunSirs commodity analysis system, soda ash prices were consolidating. The average market price was 1,234 RMB/ton, down 32.2% year-on-year. Downstream demand was primarily driven by demand.

Market outlook

Analysts at SunSirs believe that sodium bicarbonate prices have been consolidating recently, with upstream raw material soda ash experiencing a period of consolidation. Downstream industries such as pharmaceuticals, textiles, and food were primarily purchasing on-demand, with generally low demand. It is generally expected that the price of sodium bicarbonate will be mainly consolidated in the later period, depending on the downstream market demand.

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