1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, on August 18th, the price of baking soda remained stable, with an average market price of 1249.4 yuan/ton, a decrease of 36.26% compared to the same period last year. On August 17th, the Business Society Baking Soda Index was 82.94, unchanged from yesterday and hitting a historic low for the cycle. It has dropped 64.83% from its 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 temporarily stable and the market is running, and the shipment of enterprises is still acceptable. The price of baking soda in Henan region is running weakly, with a factory price of 1200 yuan/ton in Henan region and 1200-1300 yuan/ton in Shandong region. Due to downstream demand driven procurement, it is expected that weak operations will be the main focus in the later stage. Upstream: According to the commodity analysis system of Shengyi Society, the price of soda ash is operating steadily. The current market average price is 1234 yuan/ton, a decrease of 32.2% 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 consolidating recently, and the upstream raw material soda ash has also been consolidating recently. Downstream areas of baking soda, such as pharmaceuticals, textiles, and food, have been purchasing on demand recently, with average demand enthusiasm. Overall, it is expected that the price of baking soda will mainly consolidate in the later stage, depending on downstream market demand.