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[Soda ash]4.3 Soda ash Daily Review: Soda ash market prices remain firm

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April 7, 2024, 6:03 PM

Analysis of soda ash market

Today, the market price of soda ash in China is temporarily 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 South China is between 2,200 - 2,250 yuan/ton; Recently, soda ash companies have issued orders in hand, but the follow-up of new orders in the market is weak, and the inventory of some companies is increasing; Downstream companies maintain on-demand procurement and are still cautious. In addition, as individual maintenance companies resume production, market supply and demand may gradually be unbalanced. In the short term, corporate inventory pressure is still acceptable, and soda ash prices are operating firmly.

 

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on April 3, was 1805 yuan/ton, and finally closed at 1826 yuan/ton, an increase of 2.30% within the day. The highest intraday session was 1863 yuan/ton, the lowest was 1798 yuan/ton, with a total position of 625775 lots, a month-on-month-on-month-on-month.

Today, the main contract for soda ash is strong and mainly volatile. The fundamentals of soda ash have not changed much. Today, another incident of supply disturbances from large factories was reported in intraday trading, affecting market sentiment. In the short term, the upper space is suppressed by spot prices, while the lower cost support is still strong. Speculative funds backed by costs still exist. In the short term, the market volatility space continues to compress and is temporarily dominated by shocks. However, it should be noted that there have been many new ignitions in photovoltaic glass recently, and the demand for high-quality soda ash may increase again. It is necessary to pay attention to whether the subsequent supply of high-quality raw materials will affect the overall market fluctuations.


market outlook

In the short term, some soda ash manufacturers will maintain reduced production, and early maintenance companies will resume production, and market supply is expected to increase; however, affected by downstream market demand, new soda ash orders will be under pressure. The supply and demand in the soda ash market may gradually be unbalanced, and the price of new soda ash orders will be under great pressure.