[Soda ash]6.17 Soda ash Daily Review:

Analysis of soda ash market 

Today, the price of soda ash in China has been collectively lowered, ranging from 50 to 100 yuan/ton. As of now, the price of light soda ash in North China is 2,100 - 2,300 yuan/ton, and the price of heavy soda ash is 2,300 - 2,400 yuan/ton; The price of light soda ash in East China is 2,000 - 2,250 yuan/ton, and the price of heavy soda ash is 2,300 - 2,500 yuan/ton; Recently, the soda ash market has started to remain at a high level, and there is no plan to reduce short-term supply. However, downstream demand is weak and stable. Enterprises have just needed to purchase. The market transaction atmosphere is weak. The market wait-and-see attitude is strong. Some companies have great shipping pressure, and soda ash prices are weak.

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 17, was 2162 yuan/ton, and finally closed at 2120 yuan/ton, an increase of-1.40% within the day. The intraday high was 2178 yuan/ton, the lowest was 2105 yuan/ton, with a total position of 723666 lots, a month-on-month +20815 lots.

Today, soda ash futures prices remained volatile and mainly downward. The overall commodity market continued to be weak due to the continued weakening of economic data in May and the falsification of expectations of interest rate cuts. 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 resonance in the current market continues. However, subsequent supply-side maintenance plans still exist, and the actual losses during the maintenance season cannot be determined under the disturbance of high temperature factors. There is still some support for subsequent prices when demand is stable. At present, when the overall market sentiment is weak, we can wait and see the support of the front low position below.

market outlook

The overall start-up of the soda ash market continues to be high, market demand is weak, transactions are relatively sluggish, supply and demand of soda ash are gradually unbalanced, the prices of new orders of some enterprises are gradually adjusted, and the soda ash market is stable and weakening.