Analysis of soda ash market
Today, the domestic soda ash market is operating weakly and steadily. As of now, the price of light soda ash in Central China is between 1,750 - 2,000 yuan/ton, and the price of heavy soda ash is between 2,000 - 2,200 yuan/ton; the price of light soda ash in Southwest China is between 2,000 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,150 - 2,250 yuan/ton; the start of the soda plant is still at a high level. The current transaction atmosphere in the Central China market is weak, and the low price of light soda by enterprises has been loosened; Downstream demand has not improved significantly, and it is still dominated by just needs support. It adopts a cautious wait-and-see attitude, and the soda ash market maintains a weak adjustment.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on July 18, was 1935 yuan/ton, and finally closed at 1958 yuan/ton, an increase of 1.24% within the day. The highest intraday session was 1961 yuan/ton, the lowest was 1908 yuan/ton, with a total position of 809420 lots, a month-on-month period of-13488 lots.
Today, soda ash futures prices mainly rebounded with the shocks of the market environment. Or because the market still had policy expectations after the implementation of important meetings, some short funds mainly left the market as a safe haven. In view of the fact that the current soda ash market atmosphere is still weak, it is temporarily difficult to see the actual drivers emerging. The persistence of emotional behavior in today's market remains to be seen. In the short term, we can wait and see whether the communiqué of this meeting can provide policy guidance that exceeds expectations and whether the spot market appears to help the market.
market outlook
The summer maintenance plan is maintained, and the supply side is hovering at a high level; while the profitability of major downstream products is poor, and demand is limited. The upward drive for soda ash prices has weakened. It is expected that the domestic soda ash market price may operate weakly and stably in the short term.
