Price trend
According to the monitoring data of SunSirs, the price of baking soda has been consolidating at a high level recently. The average domestic market price on March 18 was 1,616.67 RMB/ton.
The baking soda commodity index on March 17 was 106.64, an increase of 2.88 points from previous day, a decrease of 12.36% from the highest point in the cycle of 121.68 points (2020-10-21), and an increase of 20.81% from the lowest point of 88.27 points on December 22, 2020. (Note: Period refers to 2020-09-01 to present)
Analysis review
According to SunSirs, the price of baking soda was running at a high level, and shipments to the downstream market were acceptable. As of the 18th, the price of baking soda in Henan was about 1,550-1,700 yuan, and the downstream demand was still acceptable. It is expected that the price will consolidate slightly in the near future. The price of baking soda in Hebei was about 1550 RMB/ton, and the downstream demand was acceptable.
In terms of raw materials: According to the monitoring data of SunSirs, the domestic soda ash price was firm. The price of soda ash in East China remained strong, and the mainstream market price of light soda ash was about 1,650-1,750 RMB/ton. The price of soda ash in North China was operating stably, and the current mainstream market price of light soda ash was about 1,650-1800 RMB/ton. The price of soda ash in Central China was operating stably, and the mainstream market price of light soda ash was currently around 1,600-1,700 RMB/ton. The price of downstream glass has been raised, and the demand for soda ash is relatively stable. It is expected that the price of soda ash will remain stable in the short term.
On the demand side: the downstream pharmaceuticals, textiles, and food have good demand for baking soda, and the price of baking soda has been firm after the recent rise.
Market outlook
SunSirs analysts believe that the price of raw soda ash has risen recently and is relatively strong, and the downstream market demand is acceptable. In general, the price of baking soda may maintain a strong trend in the short term, depending on the downstream market demand.
