[Soda ash]2.29 Soda ash Daily Review: Soda ash spot prices are weak and stable

Analysis of soda ash market

Today, China's soda ash market is operating weakly and steadily. As of now, the price of light soda ash in North China is between 1,900 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,300 yuan/ton; the price of light soda ash in East China is between 1,950 - 2,300 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,300 yuan/ton; the price of new soda ash orders remains weak, and the transaction of new orders in the market is weak. Enterprises are more cautious in purchasing, and the market has a strong wait-and-see attitude; At present, supply and demand in the soda ash market are out of balance, manufacturers 'inventories are still increasing, and market prices are weak.

Futures dynamics

According to Boduo data, the opening price of SA2405, the main contract for soda ash, on February 29, was 1758 yuan/ton, and finally closed at 1780 yuan/ton, an increase of 0.23% within the day. The highest intraday session was 1809 yuan/ton, the lowest was 1751 yuan/ton, with a total position of 586334 lots, a month-on-month period of-16754 lots.

Today, the main contract for soda ash fluctuated upward within a narrow range. Today, news of centralized soda plants meeting to insure prices and maintenance of some soda plants in March was heard. The current market prices were already highly contradictory. Affected by this news, the panic exit of short sellers rose sharply, once rising to 1800 yuan. However, some news later falsified and market sentiment also fell. The spot market is still filled with a pessimistic atmosphere. However, the current increase on the supply side has basically been realized and there is no negative driver for further growth. The demand side is currently reducing purchases and digesting its own inventory. The situation of new orders from soda plants in the short term is not good, but there is still a need for replenishment from downstream light soda companies. The short-term market may still be oscillating around 1750 to wait for new drivers.

market outlook

At present, most enterprises have maintained a high level of start-ups, and some enterprises will increase their quantities. There is no enterprise inventory and maintenance plan in the short term; the market is weak, prices continue to adjust downward, enterprise shipments are weak, inventories continue to increase, and supply and demand in the soda ash market are out of balance. soda ash prices are expected to be lowered again in the short term.