[Soda ash]7.31 Soda ash Daily Review: Soda ash market trend is weak

Analysis of soda ash market

Today, the domestic soda ash market is operating weakly. As of now, the price of light soda ash in North China is between 1,900 - 2,000 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,150 yuan/ton; the price of light soda ash in East China is between 1,750 - 2,000 yuan/ton, and the price of heavy soda ash is between 1,900 - 2,100 yuan/ton; there are no maintenance plans in the near future, and the operation of soda plants has fluctuated slightly; at the end of the month, there are many low-priced downstream purchases, and the overall demand support is insufficient; Some soda ash companies have accumulated inventories and increased shipping pressure. The prices of new orders in the North, East and Northwest markets have been lowered. The market trading atmosphere is general, and the soda ash market is operating in a weak position under the game of supply and demand.

Futures dynamics

According to Boduo data, the opening price of SA2409, the main contract for soda ash, on July 31, was 1740 yuan/ton, and finally closed at 1769 yuan/ton, an increase of 0.34% within the day. The highest intraday session was 1784 yuan/ton, the lowest was 1711 yuan/ton, with a total position of 750431 lots, a month-on-month period of-27085 lots.

Today, the soda ash futures market as a whole is mainly bottoming out and recovering. Its own fundamentals have not yet seen significant improvement driven by, and futures prices are mainly due to the emotional rebound driven by the overall market environment. Recently, the market is facing the problem of the main force shifting positions for the month, and the fluctuations caused by capital behavior may expand. In the short term, we can pay attention to the continuing issue of the warming of market atmosphere in this round.

market outlook

There are still maintenance plans in the future, and there is disturbance in supply side equipment; downstream on-demand procurement is the main focus, and demand continues to weaken without favorable support; the soda ash market will operate weakly in the short term.