Analysis of soda ash market
Today, China's soda ash market is running smoothly. As of now, the price of light soda ash in North China is between 1,950 - 2,050 yuan/ton, the price of heavy soda ash is between 2,150 - 2,250 yuan/ton, the price of light soda ash in East China is between 1,900 - 2,150 yuan/ton, and the price of heavy soda ash is between 2,000 - 2,100 yuan/ton; Today, Henan Junhua resumed production, and some companies have plans to reduce production, and the market maintains slight fluctuations; The market transaction atmosphere is general, with companies still maintaining a high level of start-up and mainly delivering orders on hand; downstream companies maintain just need to purchase, and the market has a strong wait-and-see attitude. Prices are expected to operate more stably.
Futures dynamics
According to Boduo data, the opening price of SA2405, the main contract for soda ash, on March 21, was 1806 yuan/ton, and finally closed at 1859 yuan/ton, an increase of 0.70% within the day. The highest intraday session was 1873 yuan/ton, the lowest was 1801 yuan/ton, with a total position of 450628 lots, a month-on-month period of-13329 lots.
Today, the soda ash market mainly rebounded with the low market environment. Last night, the Federal Reserve Chairman's speech was relatively biased. Expectations for overseas interest rate cuts warmed up again, and the overall performance of China's commodity market was relatively strong. The transaction atmosphere in the soda ash spot market is low, and spot prices are still under pressure despite stable demand. There is still a lack of driving force to break the range of disk shocks. If there are no accidents affecting supply in the short term and the downstream purchasing mentality is difficult to improve, then the soda ash market may still fluctuate between 1750 yuan and 1900 yuan.
market outlook
Market supply remains high. With the increase in new orders, market supply and demand have basically remained balanced, and prices have remained relatively stable; however, some companies are still relatively cautious in purchasing and mainly wait and see the market. Soda ash prices will operate firmly in the short term.
