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[Soda ash]9.13 Soda ash Daily Review: Soda ash market prices are temporarily stable

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September 13, 2024, 3:29 PM

Analysis of soda ash market

Today, China's soda ash market is temporarily operating steadily. As of now, the price of light soda ash in South China is 1,750 - 1,800 yuan/ton, and the price of heavy soda ash is 1,800 - 1,950 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. In the early stage, the maintenance equipment of some soda plants gradually resumed and was put into operation, and the market started to rise within a narrow range. As the Mid-Autumn Festival approaches, the downstream has no willingness to stock up, mainly consuming its own inventory. The production and sales of soda ash manufacturers are still weak, and the soda ash market is still weak.

Futures dynamics

According to Boduo data, the opening price of SA2501, the main contract for soda ash, on September 13, was 1390 yuan/ton, and finally closed at 1351 yuan/ton, an increase of-2.38% within the day. The highest intraday session was 1401 yuan/ton, the lowest was 1346 yuan/ton, with a total position of 1313892 lots, a month-on-month period of-8101 lots.

Today, soda ash futures prices continued to be weak and downward. On the one hand, policy expectations were temporarily frustrated after the implementation of important meetings within the week, and the overall market macro sentiment cooled to a certain extent. On the other hand, soda ash itself still has no actual upward drive, and the actual impact after the joint production reduction meeting of soda plants is limited. The early emotional support could not be sustained, and long funds before the holiday faced institutional constraints, and the downward trend accelerated in the late session. In the follow-up, it is necessary to observe the recovery of soda ash supply and whether downstream demand accelerates to shrink again.

market outlook

The units in the soda plant under early maintenance will gradually resume operation, and the market supply will increase; while downstream demand is still weak, and procurement is mainly needed. It is expected that the soda ash market will continue to operate in a weak manner in the short term.image.png