Analysis of soda ash market
Today, the domestic soda ash market is stabilizing. As of now, 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 price of light soda ash in Central China is between 1,750 - 1,900 yuan/ton, and the price of heavy soda ash is between 2,150 - 2,250 yuan/ton; the start of operation of soda ash manufacturers remains stable and the market supply is sufficient; the overall downstream demand fluctuates little, maintaining just demand and still resists high-priced soda ash; Near the end of the month, the price of new orders has not yet been announced, the market has a strong wait-and-see attitude, companies 'willingness to support prices needs to be considered, and the soda ash market remains weak and stable.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on July 25, was 1874 yuan/ton, and finally closed at 1859 yuan/ton, an increase of-0.16% within the day. The highest intraday session was 1881 yuan/ton, the lowest was 1846 yuan/ton, with a total position of 784385 lots, a month-on-month period of-15346 lots.
Today, soda ash futures prices remained mainly volatile in a narrow range. The fundamentals of soda ash itself have not yet been driven by improvement. Although the market rumors that the soda ash industry has a certain willingness to support next month's quotation, due to the ability of downstream industries to undertake, the implementation situation needs to be considered, and the market may have certain emotional trading issues in the short term. However, it is still unclear to be optimistic whether it can become an actual driving force to form a larger market. What can be expected in the future may be that during important meetings at the end of the month, more than expected stimulus policies will be released to boost commodity market sentiment and then cooperate with upstream price support behavior to form a phased market.
market outlook
There are still maintenance plans in the future, and there is disturbance in the supply side equipment. Although the end of the month is approaching, the willingness of the downstream market to replenish stocks is not obvious for the time being. Specific market dynamics need to be closely monitored. It is expected that the soda ash market may operate slowly and steadily in the short term.
