US Sodium Bicarbonate Prices to Remain Stable Throughout Q1 2023
- 09-Jan-2023 3:43 PM
- Journalist: Bob Duffler
USA: A rise in the price of raw materials, particularly Soda Ash, is expected to stabilize in the US market, further leading to an increase in the price of Sodium Bicarbonate during the first quarter of 2023. Sodium Bicarbonate can be used in bakery and pastry sectors to make cakes, crackers, waffles, and other baked items. It is also used in beverages because of its capacity to froth or produce carbonation. The demand has also been further encouraged by the growth in the food business, which has kept prices stable at the higher end than the previous month.
Rising Soda Ash costs and an incline in demand from downstream sectors are primarily responsible for the upward price trend of Sodium Bicarbonate in the US. Earlier, in the previous quarter, the downstream market primarily purchased Sodium Bicarbonate on demand, and the price of the chemical was modified and generally stabilized in November. Additionally, Sodium Bicarbonate demand was moderate in downstream industries like Pharmaceuticals, Textiles, and Food. Soda ash was a raw material with a consolidated price and a low market average price. In a game of supply and demand, the main players were the buyer and the vendor for the whole of the previous quarter. When seen holistically, the price of Sodium Bicarbonate remained consistent with the market's consolidated operation based on the demand for the product in the downstream market. Although the US imports most of its commodities from China, prices are stabilized and expected to continue to climb this quarter due to an increase in demand from end-user sectors, including paper soaps and metallurgy sectors.
According to ChemAnalyst, it is predicted that depending on the demand from the downstream market price of Sodium Bicarbonate may continue to increase in the near future. In addition, the prices of Sodium Bicarbonate would be further affected by the price of Soda Ash upstream of Bicarbonate this quarter.