The price of baking soda is temporarily stable this week (6.20-6.27)

1、 Price trend

According to the Commodity Market Analysis System of Business Society, the price of baking soda has temporarily stabilized this week, with an average market price of 1925 yuan/ton from the beginning of the week to the weekend, a year-on-year decrease of 30.67%. On June 26th, the baking soda commodity index was 127.77, unchanged from yesterday, a decrease of 45.82% from the cycle’s highest point of 235.84 points (2021-11-10), and an increase of 44.75% from the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1st, 2020 to the present)

2、 Market analysis

According to the Commodity Analysis System of the Business Society, the price of baking soda is weak and consolidating, and the downstream market has seen moderate demand recently. The current price of baking soda in Henan region is around 1700-2100 yuan/ton, which is the mainstream market quotation. According to the product analysis system of Business Society, the upstream soda ash price of baking soda is temporarily stable. The average market price of light soda ash from June 20th to June 27th was 1960 yuan/ton, a decrease of 32.88% compared to the same period last year.

Analysts from Business Society believe that the price of baking soda has remained stable in the near future, with sufficient supply of baking soda and stable operation of raw material soda ash. The soda ash plant is relatively stable, and the overall trading atmosphere is acceptable. Downstream soda ash purchases are more on demand in the near future, and the supply-demand game is expected to be dominated by fluctuations in soda ash prices in the later stage. Downstream soda ash has average demand for pharmaceuticals, textiles, food, and other aspects, For baking soda, the main focus is on on-demand procurement, with cautious purchasing sentiment and a supply-demand game. Overall, it is expected that the price of baking soda will consolidate and operate in the future, depending on downstream market demand.