Analysis of soda ash market
Today, prices in some areas of China's soda ash market have increased. As of now, the price of light soda ash in East China is 2,100 - 2,300 yuan/ton, and the price of heavy soda ash is 2,250 - 2,400 yuan/ton; the price of light soda ash in South China is 2,300 - 2,400 yuan/ton, and the price of heavy soda ash is 2,450 - 2,500 yuan/ton; Recently, some soda ash companies have been overhauled one after another, resulting in reduced supply, and the company's production and sales are basically balanced. In addition, some orders have been placed by manufacturers, and inventories continue to decline. Soda ash futures have risen strongly, driving the current period to rise simultaneously. The market purchasing sentiment is still good, and the soda ash market is operating well.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on May 20, was 2308 yuan/ton, and finally closed at 2382 yuan/ton, an increase of +6.53% within the day. The highest intraday session was 2392 yuan/ton, the lowest was 2286 yuan/ton, with a total position of 804520 lots, a month-on-month period of-7132 lots.
Today, soda ash futures prices continued to operate strongly overall. The macro sentiment in the early stage remains and continues to benefit the commodity market. Moreover, the shrinking supply of soda ash and the growth of demand are existing facts, and the relationship between supply and demand may be phased out. The spot market showed positive feedback over the weekend, with inventories falling, big factory quotations rising, and overall market sentiment was strong. However, the current price increase is fully based on the existing bullish factors. In the short term, it can be observed whether the persistence of positive feedback from the market can support prices to further open up upward space.
market outlook
Some soda ash companies have been overhauled, supply expectations have been reduced, and inventories have continued to decline. The market transaction atmosphere is good, and the soda ash market is expected to remain strong in the short term.
