[Soda ash]9.11 Soda ash Daily Review: Soda ash market prices continue to fall

Analysis of soda ash market

Today, the price of soda ash in China continues to decline. As of now, the price of light soda ash in Northwest China is 1,150 - 1,250 yuan/ton, and the price of heavy soda ash is 1,200 - 1,250 yuan/ton; the price of light soda ash in Central China is 1,350 - 1,550 yuan/ton, and the price of heavy soda ash is 1,500 - 1,650 yuan/ton. The operation of equipment in the soda ash market is basically stable, and the market supply is relatively stable; but downstream demand continues to be weak, soda ash manufacturers are not receiving orders well, new order quotations continue to loosen, market pessimism further increases, and the soda ash market is operating in a weak position.

Futures dynamics

According to Boduo data, the opening price of SA2501, the main contract for soda ash, on September 11, was 1359 yuan/ton, and finally closed at 1409 yuan/ton, an increase of 1.81% within the day. The highest intraday session was 1413 yuan/ton, the lowest was 1338 yuan/ton, with a total position of 1240983 lots, a month-on-month period of-54670 lots.

Today, soda ash futures prices rebounded sharply after bottoming out. On the one hand, commoditiesThe market has certain policy expectations for this week's ongoing China conference. Coupled with the upcoming release of important overseas inflation data, market bears have a certain risk aversion. In addition, today's soda factory joint meeting also brought about certain emotional improvements in the market. As for the actual implementation situation, it still needs to be considered. Under the current low valuation, prices are relatively sensitive to bullish news, but the general logic of strong supply and weak demand cannot be broken. If market risk aversion actually improves after the release of market risk aversion and market expectations cannot be fulfilled, then this round will bottom out or rebound. Difficult to continue.

market outlook

The units in the soda plant under early maintenance will gradually resume operation, and the market supply will increase; however, downstream demand has not improved, and the situation of strong supply and weak demand is still difficult to change. It is expected that the soda ash market will continue to operate in a weak manner in the short term.