Analysis of soda ash market
Today, China's soda ash market is temporarily operating steadily. As of now, the price of light soda ash in northwest China is between 1,900 - 2,000 yuan/ton, and the price of heavy soda ash is between 1,900 - 2,000 yuan/ton; the price of light soda ash in southwest China is between 2,100 - 2,200 yuan/ton, and the price of heavy soda ash is between 2,200 - 2,400 yuan/ton; Today, Qinghai Development Investment Corporation began to stop for maintenance, and there is a narrow reduction in market start-up; The downstream market is more wait-and-see, and the demand performance is differentiated. The demand for light products is acceptable, the demand for heavy products is average, and some transaction prices are negotiated on a single basis.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on May 15, was 2125 yuan/ton, and finally closed at 2134 yuan/ton, an increase of-1,84% within the day. The intraday high was 2144 yuan/ton, the lowest was 2091 yuan/ton, with a total position of 733115 lots, a month-on-month period of-12759 lots.
Today, soda ash futures prices bottomed out and rebounded mainly. Spot market prices are relatively stable. Although they suppress the upside of futures prices to a certain extent, they also form support for the bottom of prices. The current supply reduction and demand growth expectations faced by the main contract have not yet been falsified. However, with the growth of downstream raw material inventories and the resistance to high-priced raw materials, the periodic contradiction between supply and demand has slowed down, which cannot constitute further positive feedback for the time being. In the short term, the market or Maintain high levels of shocks and wait for new drivers.
market outlook
The start-up of the soda ash market fluctuated slightly. The equipment start-up load of individual enterprises increased, the operating rate of the soda ash market was high, and some enterprises that planned to save and reduce production postponed until the end of the month. The downstream market demand has temporarily stabilized, the demand for light soda is acceptable, and the demand for heavy soda is average. Market procurement remains cautious. Mood, the soda ash market is expected to operate in a volatile manner in the short term.
