Analysis of soda ash market
Today, prices in some areas of China's soda ash market are weak, and the overall price is basically stable. As of now, the price of light soda ash in North China is between 2,150 - 2,350 yuan/ton, and the price of heavy soda ash is between 2,350 - 2,500 yuan/ton; The price of light soda ash in East China is between 2,050 - 2,350 yuan/ton, and the price of heavy soda ash is between 2,300 - 2,500 yuan/ton; soda ash companies have maintained stable start-up, and the overall market supply is high; Downstream companies just need to purchase, but supply and demand in the soda ash market maintain a weak balance, and the market is temporarily operating steadily.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 12, was 2167 yuan/ton, and finally closed at 2175 yuan/ton, an increase of-0.64% within the day. The intraday high was 2193 yuan/ton, the lowest was 2151 yuan/ton, with a total position of 685392 lots, a month-on-month +14055 lots.
Today, soda ash futures prices fluctuated mainly within a narrow range. The existing maintenance plan for the soda ash supply side is basically implemented in place, and subsequent soda ash losses may be recovered. However, follow-up maintenance plans still exist, and the actual losses during the maintenance season under the disturbance of high temperature factors 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.
