SunSirs: Downstream Demand Was Insufficient, and the Focus of Sodium Bicarbonate Was Shifting Downwards

https://www.chemnet.com   Jun 25,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate on June 17th was 2,376 RMB/ton, and on June 24th it was 2,334 RMB/ton, a decrease of 1.77% and an increase of 21.25% compared to the same period last year.

On June 23, the sodium bicarbonate commodity index was 156.90 points, unchanged from the previous day, a decrease of 33.47% from the cycle's highest point of 235.84 points (2021-11-10), and an increase of 77.75% from the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1, 2020 to present)

Analysis review

According to the commodity analysis system of SunSirs, the price of sodium bicarbonate was weak and the market was running smoothly, and the company's shipment was still acceptable. As of June 24th, the price of sodium bicarbonate in China was weak, and downstream demand was average.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash had been running weakly this week. The average market price at the beginning of the week was 2,120 RMB/ton, while the average market price over the weekend was 2,105 RMB/ton, a decrease of 0.71% and an increase of 7.4% compared to the same period last year.

Market outlook

Analysts from SunSirs believe that the price of sodium bicarbonate had been weak in recent times, and the upstream raw material soda ash had been weak in recent times. Downstream pharmaceutical, textile, food, and other sectors of sodium bicarbonate had been purchasing on demand, with average demand enthusiasm and a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will be weaker in the future, depending on the downstream market demand.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

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