SunSirs: Sodium Bicarbonate Prices Were Consolidating This Week (November 18-22)

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

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate at the beginning of the week was 1,550 RMB/ton, and the average market price of sodium bicarbonate at the weekend was 1,548 RMB/ton, a decrease of 0.13% and a year-on-year decrease of 29.95%.

On November 21st, the sodium bicarbonate commodity index was 102.74 points, a decrease of 0.14 points from the previous day, a decrease of 56.44% from the cycle high of 235.84 points (2021-11-10), and an increase of 16.39% 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 the commodity analysis system of SunSirs, the price of sodium bicarbonate was running steadily, and the company's shipments were still acceptable. The price of sodium bicarbonate in Henan region was consolidating and running. The ex factory price of sodium bicarbonate in Henan region was around 1,450-1,550 RMB/ton. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash had been running weakly this week. The average market price as of November 22nd was 1,546 RMB/ton.

Market outlook

SunSirs’ analysts believe that the price of sodium bicarbonate has been consolidating recently, with a general trend in the upstream raw material soda ash market. Downstream areas of sodium bicarbonate, such as pharmaceuticals, textiles, and food, have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that the price of sodium bicarbonate will mainly fluctuate in the later stage, depending on downstream market demand.

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