SunSirs: Sodium Bicarbonate Prices Generally Trended Downwards in November

Price trend:

According to data monitored by SunSirs, the price of sodium bicarbonate remained weak this month. The average market price at the beginning of the month was 1,220 RMB/ton, and the average market price at the end of the month was around 1,203.75 RMB/ton, a decrease of 1.33%, and a year-on-year decrease of 22.24%.

On November 27th, the SunSirs sodium bicarbonate index was 79.89 points, a decrease of 0.09 points from the previous day, reaching a historical low within the cycle, and a decrease of 66.13% from the highest point of 235.84 points on November 10, 2021. (Note: The cycle refers to the period from 2020-09-01 to the present)

Market Analysis

According to SunSirs' commodity analysis system, the price of sodium bicarbonate was temporarily weak, although sales were satisfactory. In Henan province, the price of sodium bicarbonate was weak, with ex-factory prices ranging from 1,080-1,200 RMB/ton. In Shandong province, ex-factory prices were between 1,150-1,250 RMB/ton. Due to downstream buyers purchasing mainly on demand, prices are expected to remain stable in the near future.

Raw materials: According to data monitored by SunSirs, the price of soda ash was weak in November. The average market price of light soda ash at the beginning of the month was 1,186 RMB/ton, and at the end of the month it was around 1,224 RMB/ton, representing a 2.4% increase, but a 21.34% decrease compared to the same period last year.

Market Forecast:

According to analysts at SunSirs, the price of sodium bicarbonate was weak recently. While upstream raw material soda ash saw generally strong performance in November, downstream industries such as pharmaceuticals, textiles, and food were purchasing sodium bicarbonate mainly on a needs basis, resulting in generally low demand. Due to the interplay of supply and demand, it is expected that the price of sodium bicarbonate will fluctuate in the near future, with the specific trend depending on downstream market demand.

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