1、 Price trend

According to monitoring data from Shengyi Society, the price of baking soda has been consolidating this month. The average market price at the beginning of the month was 1598 yuan/ton, and the average market price at the end of the month was around 1582 yuan/ton, a decrease of 1% and a year-on-year decrease of 26.42%. On October 31st, the baking soda commodity index was 105.00, unchanged from yesterday, a decrease of 55.48% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 18.95% 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 consolidating and operating. The factory price of baking soda in Henan region is around 1400-1550 yuan/ton. Due to downstream demand for purchasing, 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 overall price of soda ash fell in October. At the beginning of the month, the average market price of light soda ash was 1614 yuan/ton, and at the end of the month, the average market price was around 1584 yuan/ton, a decrease of 1.86% and a decrease of 36.89% compared to the same period last year.

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. Downstream areas of baking soda, 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 the price of baking soda will mainly fluctuate in the later stage, depending on downstream market demand.