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 1604 yuan/ton, and the average market price of baking soda at the end of the week was 1592 yuan/ton, a decrease of 0.75% and a year-on-year decrease of 26.38%. On October 24th, the baking soda commodity index was 106.00, a decrease of 0.06 points from yesterday, a decrease of 55.05% from the highest point of 235.84 points during the cycle (2021-11-10), and an increase of 20.09% 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 steadily, and the company’s shipments are still acceptable. The price of baking soda in Henan region is declining, with a factory price of around 1400-1550 yuan/ton. Due to downstream demand for purchasing, it is expected that consolidation and operation 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 been running weakly this week. The current average market price is 1594 yuan/ton.

Business Society analysts believe that the price of baking soda has been consolidating recently, with a general trend in the upstream raw material soda ash market. Downstream areas of baking soda, such as pharmaceuticals, textiles, and food, have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. Overall, it is expected that the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.