1、 Price trend

According to the commodity market analysis system of Shengyishe, the price of baking soda has been consolidating this week, with an average market price of 2390 yuan/ton at the beginning of the week and 2384 yuan/ton at the end of the week. The price has decreased by 0.25% and increased by 5.96% year-on-year. On March 14th, the baking soda commodity index was 158.31, a decrease of 0.21 points from yesterday, a decrease of 32.87% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 79.35% from the lowest point of 88.27 points on December 22, 2020. (Note: The cycle refers to the period from September 1, 2020 to present)

2、 Market analysis

According to the Commodity Analysis System of Business Society, the price of baking soda is consolidating and downstream markets are purchasing on demand in the near future. Currently, the price of baking soda in China is running weakly, with the mainstream market quotation of around 1900-2400 yuan/ton. According to the commodity analysis system of Business Society, the price of soda ash has remained stable this week. The average market price from the beginning of the week to the weekend was 2040 yuan/ton, a decrease of 26.35% compared to the same period last year. Data shows that the operating rate of soda ash this week was around 89%, and the production of soda ash this week was around 730000 tons.

According to analysts from Business Society, the price of baking soda has recently stabilized, while the upstream raw material of soda ash has temporarily stabilized. Downstream pharmaceutical, textile, and food sectors of baking soda have recently made more purchases according to demand, replenishing inventory in an appropriate amount, without any positive support. It is expected that baking soda prices will mainly fluctuate in the later stage, depending on downstream market demand.