1、 Price trend
According to the commodity market analysis system of Business Society, the price of baking soda was weak this week, with an average market price of 2591.8 yuan/ton at the beginning of the week and 2509.8 yuan/ton on the weekend, a price drop of 3.16% and a year-on-year increase of 0.6%. On January 21st, the baking soda commodity index was 166.59, unchanged from yesterday, a decrease of 29.36% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 88.73% 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 weak and downstream markets are purchasing on demand in the near future. Currently, the price of baking soda in China is strong, with a mainstream market quotation of around 2200-2700 yuan/ton. According to the Commodity Analysis System of Business Society, the upstream soda ash prices for baking soda have been weak this week. The average market price at the beginning of the week was 2500 yuan/ton, and the average market price on the weekend was 2440 yuan/ton, a decrease of 2.4%, a decrease of 8.48% compared to the same period last year.
Analysts from Business Society believe that the price of baking soda has been weak in recent times, with weak performance in the upstream raw material soda ash sector. Downstream pharmaceutical, textile, food and other sectors of baking soda have been purchasing on demand in recent times, and there is a supply-demand game. Overall, it is expected that baking soda prices will be weak in the future, depending on downstream market demand.