1、 Price trend
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According to monitoring data from Shengyi Society, the price of baking soda has been running weakly this month. The average market price at the beginning of the month was 1543.2 yuan/ton, and the average market price at the end of the month was around 1506 yuan/ton, a decrease of 2.41% and a year-on-year decrease of 36.08%. On March 30th, the Business Society Baking Soda Index was 100.75, unchanged from yesterday, a decrease of 57.28% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 14.14% 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 1400-1550 yuan/ton in Henan region and 1500-1700 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 March. At the beginning of the month, the average market price of light soda ash was 1498 yuan/ton, and at the end of the month, the average market price was around 1470 yuan/ton, a decrease of 1.87% compared to the same period last year, which was 24.23%.
Business analysts believe that the price of baking soda has been weak in recent times, with the overall weak performance of upstream raw material soda ash in March. Downstream industries 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 baking soda prices will mainly fluctuate in the later period, depending on downstream market demand.
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