1、 Price trend

According to monitoring data from Shengyi Society, the price of baking soda has been weak this month, with an average market price of 1245 yuan/ton at the beginning of the month and around 1220 yuan/ton at the end of the month, a decrease of 2.01% and a year-on-year decrease of 22.88%. On October 30th, the Business Society Baking Soda Index was 80.97, unchanged from yesterday and hitting a historic low for the cycle, a decrease of 65.67% from the highest point of 235.84 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 1200-1300 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. Raw materials: According to monitoring data from Business Society, the price of soda ash remained weak in October. At the beginning of the month, the average market price of light soda ash was 1182 yuan/ton, and at the end of the month, the average market price was around 1186 yuan/ton, an increase of 0.34% compared to the same period last year, which was 25.13%.
Business analysts believe that the price of baking soda has been weak in recent times, with the upstream raw material soda ash showing overall strong performance in July. However, downstream industries such as pharmaceuticals, textiles, and food 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.