SunSirs: Sodium Bicarbonate Was Generally Weak in August

Price trend

According to data monitored by SunSirs, sodium bicarbonate prices have been weak this month, with the average market price at the beginning of the month at 1,253 RMB/ton and at the end of the month at around 1,249 RMB/ton, a 0.32% decrease and a 33.14% year-on-year decline.

On August 28, the SunSirs sodium bicarbonate Index was 82.90 points, unchanged from the previous day, hitting a new low within the cycle and down 64.85% from its 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 weak, and companies were still shipping well. sodium bicarbonate prices were weak in Henan Province, with ex-factory prices ranging from 1,270 RMB/ton in Henan Province to 1,200-1,300 RMB/ton in Shandong Province. As downstream procurement was primarily based on demand, a period of consolidation is expected in the later period.

Raw materials: According to SunSirs monitoring data, soda ash prices were weak in August. The average market price of light soda ash was 1,286 RMB/ton at the beginning of the month and around 1,210 RMB/ton at the end of the month, a 5.91% decrease and a 33.15% decrease compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate has been weak recently. The upstream raw material soda ash has been strong overall in July. However, the downstream pharmaceutical, textile, food and other industries of sodium bicarbonate have been purchasing on demand recently, and the demand enthusiasm was general. Due to the supply and demand game, it is generally expected that the price of sodium bicarbonate will fluctuate in the later period, depending on the downstream market demand.

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