Analysis of soda ash market
Today, the price of soda ash in China has temporarily stabilized. As of now, the price of light soda ash in Northwest China is between 1,900 - 2,100 yuan/ton, and the price of heavy soda ash is between 1,900 - 2,050 yuan/ton; the price of light soda ash in Southwest China is between 2,200 - 2,300 yuan/ton, and the price of heavy soda ash is between 2,300 - 2,400 yuan/ton; The start-up of soda ash enterprises is basically stable, and the market operating rate remains relatively high. However, due to the general transaction situation of new orders recently, the inventory of some manufacturers has increased; downstream demand is still relatively stable, and the market has a strong wait-and-see attitude, maintaining a just-need purchase.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 6, was 2209 yuan/ton, and finally closed at 2232 yuan/ton, an increase of 1.18% within the day. The intraday high was 2233 yuan/ton, the lowest was 2183 yuan/ton, with a total position of 713473 lots, a month-on-month +7015 lots.
Today, soda ash futures prices mainly fluctuate due to the strong market environment. The existing maintenance plan at the supply side is basically implemented in place, and subsequent soda ash losses may be restored. However, the actual losses in the subsequent maintenance season cannot be determined, and demand growth is also expected. Short-term soda ash prices fluctuate with the market environment. Although the industrial fundamentals show signs of weakening, spot price support still exists. The overall market sentiment shows signs of stabilization and has not broken the previous low. Before new drivers emerge, the market may be temporarily weak and volatile.
market outlook
The soda ash market started to fluctuate within a narrow range, and output is expected to recover in stages; downstream demand has basically remained stable, but companies are cautious in purchasing sentiments and maintain more demand. Prices in individual regions may be adjusted, and mainstream prices have temporarily stabilized.
