Sodium Bicarbonate Market Turns Bullish After Weeks Of Stagnancy
- 30-May-2022 2:56 PM
- Journalist: Li Hua
Zhejiang, China: The Sodium Bicarbonate price have soared in China's domestic market during the last week. At the beginning of the week, the assessed price value of Sodium Bicarbonate has been somewhere around 2733 RMB/Ton, which landed at 2740 RMB/Ton at the end and marked a rise of approximately 0.2%. The Sodium Bicarbonate market has been showing a positive market sentiment after being stable for several days, and it is expected to again be stagnant in the upcoming weeks.
Strong downstream demand from the food, pharmaceutical, and textile industry has been one of the crucial factors that boosted Sodium Bicarbonate's value in the Chinese domestic market. Furthermore, the Soda Ash price has also been observed soaring the same week. The market of Soda Ash has been displaying a significant surge of 2.15% in its price, which has been consolidating the Sodium Bicarbonate market as Soda Ash is the feedstock for industrial production of Sodium Bicarbonate, the price rise of Soda Ash has heavily been impacting the Sodium Bicarbonate market sentiments.
In addition, skyrocketed energy costs, augmented freight charges, and congested ports amidst the Russia-Ukraine war conflicts have been supporting the Sodium Bicarbonate price hike in the Chinese market. Altogether, higher upstream costs due to the propelled feedstock price, which eventually increased the manufacturing cost, enhanced demand from end-user industries, and intensified energy costs and logistic charges, have been the factors behind the price increment of Sodium Bicarbonate in China.
Whether this incremented value of Sodium Bicarbonate in China would replicate itself in India or not is another point of discussion. Hopefully, the coming days will unfold the impact of the upsurged price value of Sodium Bicarbonate on the Indian market. According to ChemAnalyst, "The Sodium Bicarbonate price would continue to remain at their upsurged phase and would proceed to display its current price value with stagnancy in trend. The prices might fluctuate a bit, but as of now, any notable change is not likely to be noticed."