On October 29th, the price of baking soda was consolidating

1、 Price trend

 

According to the Commodity Market Analysis System of Shengyi Society, the average market price of baking soda on October 29th was around 1582 yuan/ton. On October 28th, the baking soda commodity index was 105.07, a decrease of 0.59 points from yesterday, a decrease of 55.45% from the highest point of 235.84 points during the cycle (2021-11-10), and an increase of 19.03% 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 consolidating and operating. The factory price of baking soda in Henan region is 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 1584 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.

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