1、 Price trend
According to the Commodity Market Analysis System of Business Society, the price of baking soda has been consolidating this week, with an average market price of 2507 yuan/ton at the beginning of the week and 2506 yuan/ton at the end of the week, a decrease of 0.04% in price and a year-on-year decrease of 0.85% in price. On February 2nd, the baking soda commodity index was 166.33, unchanged from yesterday, a decrease of 29.47% from the highest point in the cycle of 235.84 points (2021-11-10), and an increase of 88.43% 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 consolidating and downstream markets are purchasing on demand in the near future. Currently, the price of baking soda in China is consolidating, with a mainstream market quotation of around 2200-2700 yuan/ton. According to the commodity analysis system of Business Society, the price of soda ash has been consolidating this week. The average market price at the beginning of the week was 2380 yuan/ton, and the average market price on the weekend was 2370 yuan/ton, a decrease of 0.42%, a decrease of 12.35% compared to the same period last year.
Analysts from Business Society believe that the recent consolidation of baking soda prices, the recent consolidation of upstream raw material soda ash, and the recent stocking of pharmaceutical, textile, and food downstream of baking soda before the Spring Festival, as well as demand based procurement, is a game of supply and demand. Overall, it is expected that the consolidation of baking soda prices will be the main trend in the later stage, depending on downstream market demand.
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