Analysis of soda ash market
Today, China's soda ash market remains stable. As of now, the price of light soda ash in North China is between 1,950 - 2,050 yuan/ton, and the price of heavy soda ash is between 2,150 - 2,250 yuan/ton; the price of light soda ash in Central China is between 1,800 - 2,000 yuan/ton, and the price of heavy soda ash is between 2,000 - 2,100 yuan/ton; the overall market start-up is at a high level, and the supply of enterprises is relatively sufficient; Soda factories delivered orders in hand, and as the orders were successively delivered, the inventory of individual companies increased slightly. Near the end of the month, some companies in the market had not yet offered new prices, and companies had a strong wait-and-see attitude, and the market remained mainly in demand.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on March 27, was 1781 yuan/ton, and finally closed at 1736 yuan/ton, an increase of-2.64% within the day. The intraday high was 1803 yuan/ton, the lowest was 1730 yuan/ton, with a total position of 649142 lots, a month-on-month +52711 lots.
Today, the main contract for soda ash dropped sharply. The logic of weak fundamentals remains unchanged. There was news today that a large amount of cash accumulation during the week and that the spot price of a major factory is expected to be further lowered. Futures prices are mainly downward in order to maintain a reasonable basis. At present, during the expected trading stage of the 09 contract, the underlying cost support may weaken. However, we also need to be wary of a large number of upstream price increases and production cuts, and the downstream replenishment of light alkali stocks once again driving market sentiment.
market outlook
In the short term, some soda ash manufacturers will maintain reduced production. In the early stage, some enterprises will resume production, and the rest of the manufacturers have no maintenance plans. Market demand remains stable, and most of them need procurement. The market has a strong wait-and-see attitude. In the later stage, soda ash prices may fluctuate within a narrow range. Adjustment.
