1、 Price trend

According to monitoring data from Shengyi Society, the price of baking soda has been running weakly this month, with an average market price of 1563.2 yuan/ton at the beginning of the month and around 1543.2 yuan/ton at the end of the month. The price has dropped by 1.28%, a year-on-year decrease of 37.28%. On February 26th, the Business Society Baking Soda Index was 102.58, unchanged from yesterday, a decrease of 56.50% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 16.21% 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 February. The average market price of light soda ash at the beginning of the month was 1494 yuan/ton, and the average market price at the end of the month was around 1460 yuan/ton, a decrease of 2.28% and 33.33% compared to the same period last year.

According to analysts from Business Society, the price of baking soda has been consolidating recently, with the overall weak performance of the upstream raw material soda ash in February. Downstream areas such as pharmaceuticals, textiles, and food have been purchasing on demand recently, with average demand enthusiasm and a supply-demand game. It is expected that baking soda prices will mainly fluctuate in the later period, depending on downstream market demand.