Analysis of soda ash market
Today, China's soda ash market has been adjusted in a narrow range. As of now, the price of light soda ash in North China is another 1,950 - 2,050 yuan/ton, and the price of heavy soda ash is another 2,150 - 2,250 yuan/ton; the price of light soda ash in Central China is 1,800 - 2,000 yuan/ton, and the price of heavy soda ash is 1,900 - 2,000 yuan/ton; the start-up of soda ash enterprises has basically remained stable, and individual enterprises have reduced production capacity; The market remains in need of procurement, downstream companies have a strong wait-and-see attitude, and the soda ash market will operate weakly and steadily in the short term.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on March 28, was 1729 yuan/ton, and finally closed at 1744 yuan/ton, an increase of-1.13% within the day. The intraday high was 1768 yuan/ton, the lowest was 1727 yuan/ton, with a total position of 656796 lots, a month-on-month +7654 lots.
Today, the main contract for soda ash remains weak and volatile. The logic of weak fundamentals of soda ash remains unchanged. However, news came out today that a large factory has added a new maintenance plan, and the amount of accumulated stocks within the week is not as good as market rumors. Coupled with the policy benefits, the soda ash market has seen a slight increase. However, because its impact could not effectively improve the current weak fundamentals, the market fell again. In the short term, soda ash futures prices are expected to remain weak and volatile until new drivers break.
market outlook
In the short term, some soda ash manufacturers have maintained reduced production, and the overall market start-up has remained stable. Downstream companies just need to purchase, and some companies have a demand for stocking. However, at the end of the month, some companies in the market have not issued new orders. The soda ash market has a strong wait-and-see attitude. In the later period, soda ash prices or narrow range fluctuations are adjusted.
