1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average market price of baking soda on February 25th was 1545 yuan/ton. On February 24th, the Business Society Baking Soda Index was 102.58, a decrease of 0.14 points 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 steadily, 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 1500-1750 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. Upstream: According to the commodity analysis system of Shengyi Society, the price of soda ash has been consolidating this week. The current market average price is 1420 yuan/ton, and downstream customers tend to purchase according to their needs.

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. The downstream supply of baking soda in pharmaceuticals, textiles, food, and other fields will still be relatively sufficient after the year. Downstream buyers 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.