The prices for Sodium Bicarbonate are expected to show a downward trend through April 2023, supported by shifting market dynamics. The US Sodium Bicarbonate market is anticipated to stay subdued in April 2023. Regional stockists and distributors predict a better demand in Q2 2023 after significantly declining sales volumes in the first quarter of 2023. So, as expected by the market players, the output of downstream food additives and cosmetic products remains at a satisfactory level.

According to our sources, with the commencement of Q2 2023, the Sodium Bicarbonate demand in the Chinese domestic market is likely to remain consistent on the lower side, and the market players have enough stock inventories among them. Also, the prices for the Feedstock Soda ash remained consolidated in the Chinese provinces affecting the market situation in the US and European markets. Recently, the downstream market demand was comprehensive, and the price of Sodium Bicarbonate was weak and consolidated along with the price of the raw material Soda Ash. The Sodium Bicarbonate supply is enough, and downstream demand for the product in pharmaceuticals, textiles, food, and other areas has been slow to follow up. In addition, the Soda Ash market in the Chinese provinces was also recorded to be on the stable side with continued supply and ample availability.

The cost of Sodium Bicarbonate is likely to mimic the stable declining trajectory in the US market in April. The momentum for imports has seen to be strong in the previous quarter, keeping the inventories updated. Furthermore, the decreased freight charges supported the depreciating trajectory for Sodium Bicarbonate in the US market. The consistent decline in energy prices also influences the downward trajectory.

ChemAnalyst believes that the prices of Sodium Bicarbonate will likely appreciate over the following week and months due to rising downstream inquiries from the textile, cosmetic, and food industries. Market members claim that rising interest rates are likely to hinder the downstream food, cosmetic, and textile industries, further supporting the price hike.