1、 Price trend

According to the Commodity Market Analysis System of the Business Society, the price of baking soda was weak this week, with an average market price of 2092.5 yuan/ton at the beginning of the week and 2075 yuan/ton at the weekend. The price fell by 0.84%, a year-on-year decrease of 24.09%. On May 14th, the baking soda commodity index was 138.55, unchanged from yesterday, a 41.25% decrease from the cycle’s highest point of 235.84 points (2021-11-10), and an increase of 56.96% 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 1900-2200 yuan/ton, which is the mainstream market quotation. According to the product analysis system of Business Society, the price of soda ash in the upstream of baking soda is relatively weak this week. At the beginning of the week, the average market price was around 2600 yuan/ton, while on the weekend, the average market price was 2530 yuan/ton, a price drop of 2.69%, a year-on-year decrease of 7.16% compared to last year.

Analysts from Business Society believe that the recent weak trend in the price of baking soda is due to sufficient supply of baking soda, and the recent weak trend in the price of raw material soda ash. The downstream demand for baking soda in medicine, textiles, food, and other areas is average, and the main focus is on purchasing baking soda according to demand, with cautious purchasing sentiment. Overall, it is expected that the weak trend in baking soda prices will be the main trend in the later stage, depending on the downstream market demand.