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[Soda ash]7.24 Soda ash Daily Review: Soda ash market prices are temporarily stable

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July 24, 2024, 4:17 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 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 price of light soda ash in Northeast China is between 2,050 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,250 - 2,300 yuan/ton; some soda plants have resumed maintenance and the start-up has increased within a narrow range; orders from companies are scheduled until the end of the month, but new orders have not improved; The downstream wait-and-see attitude is strong, market transactions are relatively sluggish, and demand is maintained, and the soda ash market is operating in a weak position.

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on July 24, was 1861 yuan/ton, and finally closed at 1868 yuan/ton, an increase of-0.53% within the day. The highest intraday session was 1875 yuan/ton, the lowest was 1843 yuan/ton, with a total position of 799728 lots, a month-on-month period of-24402 lots.

Today, soda ash prices are mainly bottoming out and recovering, and overall price fluctuations are mainly narrow fluctuations. At present, the fundamentals of soda ash itself have not improved significantly, and soda ash prices are still suppressed by the expected risk of high supply and collapse of demand. However, in view of the fact that there is still some support for the valuation of soda ash before the disturbance problem of the maintenance season is falsified, some empty orders after the price is low. Also save some profits to understand the phenomenon. In the short term, the soda ash market is still optimistic, and the market may remain low and volatile until new drivers emerge.

market outlook

There are still maintenance plans in the future, and there are disturbances in the supply side equipment; some downstream float glass companies are still in loss-making operations, with high cost pressure and low procurement enthusiasm; specific attention still needs to be paid to the replenishment situation at the end of the month, and it is expected that the soda ash market may be in the short term. Run smoothly.1721809033083.png