SunSirs: Sodium Bicarbonate Prices Remained Weak in September

https://www.chemnet.com   Oct 09,2024 SunSirs

Price trend

According to monitoring data from SunSirs, the price of sodium bicarbonate had been declining this month, with an average market price of 1,858 RMB/ton at the beginning of the month and around 1,598 RMB/ton at the end of the month, a decrease of 13.99% and a year-on-year decrease of 29.76%.

On September 29th, the sodium bicarbonate commodity index was 106.86 points, a decrease of 0.61 points from the previous day, a decrease of 54.69% from the cycle high of 235.84 points (2021-11-10), and an increase of 21.06% from the lowest point of 88.27 points on December 22, 2020. (Note: Cycle refers to September 1, 2020 to present)

Analysis review

According to SunSirs, the price of sodium bicarbonate had been weak this month, and downstream markets had been purchasing according to demand recently. As of September 30th, the domestic price of sodium bicarbonate was running weakly, with the mainstream ex factory price in Henan region being around 1,400-1,500 RMB/ton.

Raw materials: According to monitoring data from SunSirs, the overall price of soda ash fell in September. At the beginning of the month, the average market price of light soda ash was 1,810 RMB/ton, and at the end of the month, the average market price was around 1,614 RMB/ton, a decrease of 10.83% and a decrease of 47.77% compared to the same period last year.

Market outlook

SunSirs’ analysts 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 areas of sodium bicarbonate, such as pharmaceuticals, textiles, and food, had been mainly purchasing on demand, with moderate purchases and a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will mainly consolidate in the later stage, depending on downstream market demand.

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

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