Analysis of soda ash market
Today, the domestic soda ash market is operating slowly and steadily. 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 South China is between 2,050 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,150 - 2,250 yuan/ton; today, the overall start of the soda plant is still high, and the supply remains sufficient; while downstream demand is sluggish, procurement is not active, and demand is mainly maintained; There is a game between supply and demand in the soda ash market, and prices continue to operate weak.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on August 7, was 1735 yuan/ton, and finally closed at 1717 yuan/ton, an increase of-3.38% within the day. The intraday high was 1754 yuan/ton, the lowest was 1713 yuan/ton, with a total position of 650026 lots, a month-on-month +13762 lots.
Today, soda ash futures prices continue to be weak and downward. Recently, the fundamentals of soda ash itself have limited changes, and the market is more dominated by overall macro sentiment and capital behavior. Overall, it is difficult for commodity prices to be driven upward until the demand problem for domestic commodities improves. The follow-up point still lies in the repair of actual demand in the peak season. Prior to this, the soda ash market may maintain its current logic and fluctuate mainly due to the weak market environment.
market outlook
Maintenance plans are still in place in the future, and the supply side will decrease slightly; however, downstream demand is weak, transactions are relatively sluggish, and inventory pressure in soda plants is prominent; in the absence of good news, the supply and demand of soda ash may gradually be out of balance, and it is expected to remain weak in the short term.
