[Soda ash]6.18 Soda ash Daily Review: Soda ash market remains weak

Analysis of soda ash market 

Today, China's soda ash market maintains a weak trend. As of now, the price of light soda ash in Central China is between 1,950 - 2,200 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,400 yuan/ton; the price of light soda ash in South China is between 2,300 - 2,350 yuan/ton, and the price of heavy soda ash is between 2,400 - 2,500 yuan/ton; The soda ash market has started at a high level, and enterprises have sufficient supply. Recently, some enterprises have experienced greater shipment pressure and increased inventory pressure. The prices of some enterprises have been adjusted one after another, and the soda ash market has stabilized and weakened. Most downstream enterprises have just needed to purchase and are resistant to high-priced soda ash. Strong sentiment.

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 18, was 2110 yuan/ton, and finally closed at 2076 yuan/ton, an increase of-2.85% within the day. The intraday high was 2144 yuan/ton, the lowest was 2072 yuan/ton, with a total position of 727788 lots, a month-on-month +4122 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.