1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, the average market price of baking soda is 1205 yuan/ton, a decrease of 22.16% compared to the same period last year. On November 24th, the Business Society Baking Soda Index was 80.06, a decrease of 0.17 points from yesterday, setting a new historical low for the cycle, and a decrease of 66.05% from the highest point of 235.84 points on November 10, 2021. (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 running weakly, with a factory price of 1080-1200 yuan/ton in Henan region and 1150-1250 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 1224 yuan/ton, an increase of 1.16% compared to the same period last year, and downstream purchases are mostly made on demand.
Business Society analysts believe that the price of baking soda has been weak in recent times, while the upstream raw material soda ash has been strong. However, downstream industries such as pharmaceuticals, textiles, and food have been purchasing on demand recently, and demand enthusiasm for baking soda is still acceptable. Overall, it is expected that the price of baking soda will mainly consolidate in the later stage, depending on downstream market demand.
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