1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the average market price of baking soda at the beginning of the week was 1410 yuan/ton, and the average market price of baking soda at the end of the week was 1342 yuan/ton, a decrease of 4.82% in price and a decrease of 41.27% compared to the same period last year. On April 17th, the Business Society Baking Soda Index was 89.07, a decrease of 1.46 points from yesterday, a decrease of 62.23% from the highest point of 235.84 points during the cycle (2021-11-10), and an increase of 0.91% from the lowest point of 88.27 points on December 22, 2020. (Note: Cycle refers to September 1, 2020 to present)
2、 Market analysis
According to the commodity analysis system of Shengyi Society, the price of baking soda is running weakly, and the company’s shipments are still acceptable. The price of baking soda in Henan region is running weakly, with a factory price of 1350-1450 yuan/ton in Henan region and 1400-1600 yuan/ton in Shandong region. Due to downstream demand driven procurement, it is expected that weak operations will be the main focus in the later stage. Upstream: According to the commodity analysis system of Shengyi Society, the price of soda ash has remained stable this week. The average market price from the beginning of the week to the end of the week is 1400 yuan/ton, a decrease of 26.32% compared to the same period last year. Downstream buyers tend to purchase on demand.
Business Society analysts believe that the price of baking soda has been weak in recent times, while the upstream raw material soda ash has been generally operating. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand, with average demand enthusiasm. Overall, it is expected that the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.