[Soda ash]3.6 Soda ash Daily Review: The soda ash market is mainly consolidated

Analysis of soda ash market

Today, the price of soda ash in China is weak and consolidating. As of now, the price of light soda ash in North China is between 1,900 - 2,000 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,200 yuan/ton; the price of light soda ash in East China is between 1,850 - 2,150 yuan/ton, and the price of heavy soda ash is between 2,000 - 2,100 yuan/ton; the price of soda ash has been continuously lowered, the supply of low-priced goods in the market has increased, and the signing of orders by some companies has improved; Prices in some regions are still at high levels, and companies are under pressure to ship; soda ash prices have gradually stabilized after falling recently. Most downstream companies have maintained a strong wait-and-see attitude in the market.

Futures dynamics

According to Boduo data, the opening price of SA2405, the main contract for soda ash, on March 6, was 1887 yuan/ton, and finally closed at 1896 yuan/ton, an increase of 0.58% within the day. The highest intraday session was 1904 yuan/ton, the lowest was 1845 yuan/ton, with a total position of 551727 lots, a month-on-month period of-4662 lots.

Today, the main contract for soda ash is mainly bottomed out in a v-shaped trend. Yesterday's rumors of market disturbances were partially false, and the market fell back. However, recent demand for downstream replenishment of light soda has performed well, and the supply pressure of low-inventory manufacturers in some core areas has increased, and there is a willingness to increase prices. Overall, the market supply is stable, the surplus pattern has not changed, spot prices have not yet risen, and the main futures contract has limited driving force to continue to rise after it has been pulled to level. In the future, we still need to pay attention to the persistence of this round of replenishment and whether spot prices can form positive feedback to further open up the space above the market.

market outlook

The supply-demand relationship in the soda ash market is difficult to change in the short term. However, as prices have dropped to low levels, shipments of individual companies have improved. However, the overall inventory in the market is still at a high level. Companies are still in need of purchasing, but some people are mostly bearish on the future outlook. The soda ash market will operate steadily and weakly.