1、 Price trend
According to monitoring data from Business Society, the overall price of baking soda is weak this month, with an average market price of 1950 yuan/ton at the beginning of the month and around 1925 yuan/ton at the end of the month. The price has decreased by 1.28%, a year-on-year decrease of 30.67%. On June 28th, 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 business news agency, the overall price of baking soda in May was weak, and downstream markets have been mainly purchasing according to demand recently. The current price of baking soda in Henan region is around 1700-2100 yuan/ton, which is the mainstream market quotation. Raw materials: According to monitoring data from Business Society, the overall price of soda ash was weak in June. The average market price of light soda ash at the beginning of the month was 2080 yuan/ton, while the average market price at the end of the month was around 1960 yuan/ton. The price decreased by 5.77%, a decrease of 32.88% compared to the same period last year.
In terms of demand: Downstream demand for baking soda in pharmaceuticals, textiles, and food is average this month. Raw material soda ash: According to the commodity analysis system of the Business Society, the price of soda ash increased in early June, but decreased in mid to late June. Currently, the domestic soda ash price is temporarily stable and the price fluctuation is relatively small. The soda ash plant is relatively stable, and the overall trading atmosphere is acceptable. Recently, downstream soda ash is mostly purchased on demand, and the supply-demand game is expected to be dominated by fluctuating soda ash prices in the later stage. Downstream, pharmaceuticals, textiles, and food have a high demand for baking soda, which can be purchased according to demand. The price of baking soda has stabilized, and overall, the short-term or continued consolidation of baking soda prices depends on downstream market demand.
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