[Soda ash]9.9 Soda ash Daily Review: Soda ash market is stable and declining

Analysis of soda ash market

Today, China's soda ash market prices continue to loosen. As of now, the price of light soda ash in North China is 1,650 - 1,850 yuan/ton, and the price of heavy soda ash is 1,750 - 1,900 yuan/ton; the price of light soda ash in Central China is 1,400 - 1,700 yuan/ton, and the price of heavy soda ash is 1,500 - 1,750 yuan/ton. The units of individual soda plants have gradually recovered, and the supply has increased within a narrow range, but the overall operating load is still not high; recently, the downstream market demand has been weak, the enthusiasm for purchasing goods has been low, the transaction of new orders has been limited, and manufacturers 'shipments are still not smooth. The market has a strong wait-and-see attitude. The soda ash market remains weak.

Futures dynamics

According to Boduo data, the opening price of SA2501, the main contract for soda ash, on September 9, was 1433 yuan/ton, and finally closed at 1391 yuan/ton, an increase of-3.13% within the day. The intraday high was 1434 yuan/ton, the lowest was 1368 yuan/ton, and the total position was 1243429 lots, a month-on-month increase of 28879 lots.

Today, soda ash futures prices continue to be weak and mainly downward. At present, it is temporarily difficult to see signs of effective improvement in the fundamentals of soda ash. On the contrary, downstream glass companies are expected to accelerate cold repair after the end of the maintenance season. As a result, the further easing of the supply and demand relationship of soda ash has resulted in a strong suppression of prices, and the elasticity of the supply side to prices may continue to narrow. In the short term, without strong macro emotional support, it will be difficult for the soda ash market to see the improvement of its own fundamentals. Prices may still be dominated by weak operations.

market outlook

The units of the soda plant under early maintenance have gradually resumed operation, and the market starts have increased; downstream demand has not yet rebounded significantly, and the supply volume sold at low prices by soda ash companies in the early stage is still being digested. It is expected that the soda ash market will continue to operate in a weak manner in the short term.