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 1249.4 yuan/ton, and the average market price of baking soda at the end of the week was 1249.2 yuan/ton, a decrease of 0.02% in price and a decrease of 34.7% compared to the same period last year. On August 21st, the Business Society Baking Soda Index was 82.91, unchanged from yesterday and hitting a historic low within the cycle, a decrease of 64.84% 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 1270 yuan/ton in Henan region and 1200-1300 yuan/ton in Shandong region. Due to downstream demand based procurement, 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 consolidating this week. The average market price from the beginning of the week to the end of the week is 1224 yuan/ton, a decrease of 32.75% compared to the same period last year. Downstream buyers tend to purchase on demand.
Business analysts believe that the price of baking soda has been consolidating recently, and the upstream raw material soda ash has also been consolidating recently. Downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, and demand enthusiasm for baking soda is still acceptable. Overall, it is expected that the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.