Analysis of soda ash market
Today, China's soda ash market continues to maintain stability. As of now, 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 price of light soda ash in South China is between 2,400 - 2,450 yuan/ton, and the price of heavy soda ash is between 2,500 - 2,600 yuan/ton; Today, individual enterprises have resumed production, and the supply of soda ash market will increase; Recently, the transaction atmosphere in the soda ash market has weakened compared with the previous period. The market has a strong wait-and-see attitude. Procurement has remained cautious, mainly consuming pre-period inventory. In the short term, soda ash prices will be mainly consolidated.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 13, was 2194 yuan/ton, and finally closed at 2147 yuan/ton, an increase of-1.154% within the day. The intraday high was 2200 yuan/ton, the lowest was 2118 yuan/ton, with a total position of 708742 lots, a month-on-month +23350 lots.
Today, soda ash futures prices mainly opened higher and lower with market macro sentiment. Recently, the supply side of soda ash itself has recovered well. Due to the cooling of the futures market, the phenomenon of rushing in the spot market has intensified, and negative feedback from the market has continued. 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. At present, the overall market has not reversed and the previous low has not yet broken. 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 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.
