1、 Price trend
According to monitoring data from Shengyi Society, the price of baking soda has been consolidating this month. The average market price at the beginning of the month was 1548 yuan/ton, and the average market price at the end of the month was around 1546 yuan/ton, a decrease of 0.13% and a year-on-year decrease of 42.49%. On December 30th, the Business Society Baking Soda Index was 102.61, unchanged from yesterday, a decrease of 56.49% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 16.25% 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 weakly, and the company’s shipments are still acceptable. The price of baking soda in Henan region is operating steadily, with a factory price of 1450-1550 yuan/ton in Henan region and 1500-1750 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. Raw materials: According to monitoring data from Business Society, the overall price of soda ash fell in December. At the beginning of the month, the average market price of light soda ash was 1556 yuan/ton, and at the end of the month, the average market price was around 1538 yuan/ton, a decrease of 1.16% and a decrease of 44.87% compared to the same period last year.
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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