I. Price Trend
According to monitoring data from Business Society, the price of sodium bicarbonate remained weak this month. The average market price at the beginning of the month was 1,190 yuan/ton, while the average market price at the end of the month was around 1,187.5 yuan/ton, representing a decrease of 0.21% and a year-on-year decline of 24.3%. On January 29, the Business Society Sodium Bicarbonate Index stood at 78.65, unchanged from the previous day. Compared to the highest point of 235.84 in the cycle (November 10, 2021), it decreased by 66.65%, while compared to the lowest point of 78.15 on January 15, 2026, it increased by 0.64%. (Note: The cycle refers to the period from September 1, 2020, to the present.)

II. Market Analysis
According to the Business Society commodity analysis system, the price of sodium bicarbonate remained weak, with satisfactory shipments from enterprises. In the Henan region, the price of sodium bicarbonate was weak, with ex-factory prices ranging from 1,080 to 1,200 yuan/ton. In the Shandong region, ex-factory prices ranged from 1,150 to 1,250 yuan/ton. As downstream demand is primarily based on procurement needs, it is expected that prices will remain range-bound in the near term.

Raw Materials:
According to monitoring data from Business Society, the price of soda ash remained weak in December. The average market price of light soda ash at the beginning of the month was 1,250 yuan/ton, while the average market price at the end of the month was around 1,208 yuan/ton, representing a decrease of 3.36% and a year-on-year decline of 19.14%.

Analysts from Business Society believe that the price of sodium bicarbonate has remained weak recently. The upstream raw material, soda ash, performed weakly overall in January, while the supply side of sodium bicarbonate saw minor fluctuations in individual production units. Downstream sectors such as pharmaceuticals, textiles, and food industries have been procuring based on demand, with overall demand enthusiasm being moderate. Given the interplay between supply and demand, it is expected that sodium bicarbonate prices will fluctuate within a range in the near term, depending on downstream market demand.