Market overview: In May (May 1, 2024 - May 28, 2024), the baking soda market rose slightly. The monthly average price of the baking soda market this month was 1,840.21 yuan/ton, an increase of 47.1 yuan/ton from the average price of the previous month. 2.62%. In May, baking soda showed an overall stalemate and stable trend. At the beginning of the month, the overall trend was highly linked to the trend of soda ash. At the same time, affected by downstream demand, the price remained relatively high. At the beginning of this month, the cost of soda ash was stable, and the overall price of baking soda did not fluctuate much. The price tended to be low and profit margins were compressed, so the price continued to remain stable. In the second half of this month, the price of baking soda was affected by the backlog of inventory. Some manufacturers lowered their prices, and the market price dropped slightly. There is still a certain contradiction between the supply and demand of baking soda, and the accumulation of inventory has not been resolved. At present, it is mainly stable.
On the supply side: the operating rate of baking soda companies this month was 40.86%, an increase of 7.05% compared with the previous month. This month, the resumption of production in Inner Mongolia has been fully completed, and individual manufacturers' start-ups have increased. The overall start-up has increased. The overall inventory in the market is relatively high, and the supply is stable.
On the demand side: The demand this month is flat and cold, and the downstream adopts a wait-and-see attitude. Overall, there is no obvious boosting trend, and there are insufficient positive factors.
In terms of cost: the domestic pure copper market is dominated by price increases. Affected by the tight delivery operations of many upstream low-storage pure puree companies, the new price of light pure puree is mainly above the trend.
In terms of profit: the price of pure sulfate increased this month, and the quotations of baking soda companies have not been adjusted significantly. Therefore, the profit this month is slightly compressed compared with the previous month. (BAIINFO)
