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[Soda ash]7.3 Soda ash Daily Review: Soda ash market trend is weak and stable

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July 3, 2024, 4:27 PM

Analysis of soda ash market

Today, the domestic soda ash market price has temporarily stabilized. As of now, the price of light soda ash in South China is between 2,050 - 2,150 yuan/ton, and the price of heavy soda ash is between 2,250 - 2,350 yuan/ton; the price of light soda ash in North China is between 1,950 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,150 - 2,250 yuan/ton; the overall start-up of the soda plant is still high, and the supply remains sufficient; At the beginning of the month, most downstream companies replenished their warehouses at low prices and appropriate amounts, focusing on just needs, and the market was operating steadily.

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on July 3, was 2197 yuan/ton, and finally closed at 2224 yuan/ton, an increase of 3.25% within the day. The intraday high was 2225 yuan/ton, the lowest was 2165 yuan/ton, with a total position of 766857 lots, a month-on-month +16321 lots.
Today, soda ash futures prices continue to operate in a strong trend. Due to the new maintenance plan in July and the recent recurrence of supply disturbances in large factories, and today's market rumors that a certain upstream order has been closed, market concerns have been further exacerbated. In the short term, it is necessary to continue to observe how the supply disturbance problem evolves and its impact on the purchasing mentality of the middle and lower reaches. In addition, there are still certain expectations for policy expectations before the important meeting in July. Before the above uncertain events cannot be falsified, there is strong support for soda ash prices. However, whether we can continue to open up upward space still needs to observe the direction of the actual supply and demand relationship and the guidance of upstream and downstream behaviors.

market outlook

Follow-up maintenance plans still exist, and supply disturbance issues affect market mentality; soda ash prices are low, and downstream companies may increase their willingness to stock up.In the short term, the soda ash market is expected to hold steady and wait for upstream conditions.1719995225374.png