Analysis of soda ash market
Today, the price of soda ash in some regions of China has dropped within a narrow range. As of now, the price of light soda ash in East China is between 2,100 - 2,350 yuan/ton, the price of heavy soda ash is between 2,300 - 2,500 yuan/ton, and the price of light soda ash in Central China is between 2,050 - 2,300 yuan/ton, and the price of heavy soda ash is between 2,250 - 2,500 yuan/ton; As early maintenance companies resume production, the soda ash market will also increase and supply will increase; Recently, orders from soda ash companies have gradually been absorbed, but new orders have been relatively sluggish, and the inventory of some manufacturers has increased; while soda ash prices have remained high, and procurement in the middle and lower reaches has been more cautious. The prices of new orders in some areas have been lowered, and low-cost sources in the market have increased.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 11, was 2218 yuan/ton, and finally closed at 2170 yuan/ton, an increase of-3.64% within the day. The intraday high was 2242 yuan/ton, the lowest was 2151 yuan/ton, with a total position of 671337 lots, a month-on-month +17052 lots.
Today, soda ash futures prices fell sharply. The overall commodity market performance was weak today, mainly due to the impact of overseas data during the holiday period, China's short sentiment covering. The existing maintenance plan for the soda ash supply side is basically implemented in place, and subsequent soda ash losses may be recovered. However, the actual losses during the maintenance season cannot be determined, and demand growth is also expected. Recently, the fundamentals of soda ash have shown signs of weakening, and futures prices have been rushing and falling. The spot market has formed a certain negative feedback. However, the overall market sentiment has not yet reversed and the previous low has not yet been broken. Before new drivers emerge, the market may be temporarily weak and the main shocks are weak.
market outlook
The soda ash market started to fluctuate within a narrow range, and market supply increased; the wait-and-see attitude in the downstream market increased, procurement was cautious, and high-priced transactions were under pressure. There was an inflow of low-priced goods into the market, but the overall inventory pressure was not large for the time being. Company quotations remained firm, and some prices were adjusted within a narrow range.
