[Soda ash]6.25 Soda ash Daily Review: Soda ash market is weak and stable, and downstream maintains replenishment demand

Analysis of soda ash market

Today, the domestic soda ash market is weak and stable. As of now, the price of light soda ash in North China is 2,100 - 2,300 yuan/ton, the price of heavy soda ash is 2,300 - 2,400 yuan/ton, the price of light soda ash in East China is 1,900 - 2,250 yuan/ton, and the price of heavy soda ash is 2,200 - 2,500 yuan/ton; Enterprises in the soda ash market have maintained a high level of start-up, and downstream demand has not improved yet. The need to replenish the warehouse is still in a game of supply and demand in the soda ash market. However, some market participants are bearish on the later market. The market is pessimistic, and the soda ash market will remain weak.

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 25, was 2023 yuan/ton, and finally closed at 2028 yuan/ton, an increase of-2.17% within the day. The intraday high was 2035 yuan/ton, the lowest was 2006 yuan/ton, with a total position of 725611 lots, a month-on-month +5457 lots.

Today, soda ash futures prices were mainly weak and volatile. The fundamental weakness of soda ash itself continues, and market sentiment remains depressed. However, the decline slowed down after the price fell to the flat range. Weak reality currently dominates the market, but there is also a lack of strong new drivers to expand fluctuations. In the short term, the soda ash market may remain. A narrow range of shocks is the main thing to wait.

market outlook

The overall start-up of the soda ash market continues to be high. Due to weak demand, corporate prices have been lowered one after another. In the short term, downstream demand has not yet been driven by strong replenishment. Companies are waiting and seeing, and the soda ash market is expected to fluctuate downward.