1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, on July 23rd, the price of baking soda remained stable, with an average market price of 1253.6 yuan/ton, a decrease of 42.86% compared to the same period last year. On July 22, the Business Society Baking Soda Index was 83.20, unchanged from yesterday and hitting a historic low within the cycle, a decrease of 64.72% from the highest point of 235.84 on November 10, 2021. (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 running weakly, with a factory price of 1200 yuan/ton in Henan region and 1200-1300 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 is operating steadily. The current market average price is 1166 yuan/ton, a decrease of 39.46% compared to the same period last year, and downstream purchases are mostly made on demand.
Business Society analysts believe that the price of baking soda has been consolidating recently, with the upstream raw material soda ash generally operating in the near future. Downstream baking soda is mostly purchased on demand in pharmaceuticals, textiles, food, and other fields, with average demand enthusiasm. Overall, it is expected that the price of baking soda will mainly consolidate in the later stage, depending on downstream market demand.
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