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 Northwest China is between 1,750 - 1,800 yuan/ton, and the price of heavy soda ash is between 1,800 - 1,850 yuan/ton; the price of light soda ash in Northeast China is between 2,200 - 2,300 yuan/ton, and the price of heavy soda ash is between 2,400 - 2,500 yuan/ton; The operation of soda ash continues to be weak and prices continue to decline. However, soda ash companies are still starting at a high level, corporate inventories are increasing, market supply and demand are in a game, and prices continue to decline.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on June 27, was 2067 yuan/ton, and finally closed at 2022 yuan/ton, an increase of-0.93% within the day. The intraday high was 2070 yuan/ton, the lowest was 2014 yuan/ton, with a total position of 727461 lots, a month-on-month +14003 lots.
Soda ash futures prices went low today, giving up yesterday's gains. The weakness of soda ash's own fundamental data continues, and market sentiment remains depressed. However, the decline slowed down after the price fell to the flat range. The macro sentiment driven by Beijing's relaxation of real estate policies subsided yesterday, and the actual performance of the policy could not exceed expectations. It did not support the trend upward trend of the commodity market for the time being. In the short term, the market logic may still be dominated by its own weak fundamentals and waiting for new drivers.
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.
