Analysis of soda ash market
Today, China's soda ash market is stable and moving slightly. As of now, the price of light soda ash in South China is between 2,050 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,200 - 2,300 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 1,900 - 2,000 yuan/ton; Prices in some areas of the soda ash market are mixed, market supply remains high, and enterprises mainly deliver orders on hand; Demand in the downstream market is basically stable. Enterprises maintain just need to purchase, but the sentiment of stocking is weak. The market has a strong wait-and-see attitude. The price of soda ash is in a game between supply and demand, and the price is negotiated on a single basis.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on April 15, was 1921 yuan/ton, and finally closed at 1932 yuan/ton, an increase of 1.36% within the day. The intraday high was 1945 yuan/ton, the lowest was 1906 yuan/ton, with a total position of 740072 lots, a month-on-month +6869 lots.
Today, the main contract for soda ash fell slightly after surging higher. Supply-side maintenance has resumed recently, but the actual dynamic supply-demand relationship is still tight. The downward trend in the afternoon was more affected by the improvement of product specifications of a large natural soda factory, which affected market sentiment. In the short term, we need to continue to pay attention to whether the mentality and intensity of replenishment in the middle and lower reaches can continue the market.
market outlook
Maintenance companies have resumed production, and market start-up expectations have increased; soda ash prices are low, and some market participants believe that the price has hit bottom, and some companies have stocked up; soda ash stocks are still at a high level, and companies in some regions are actively shipping, and the price of new orders has been adjusted in a narrow range.
