Analysis of soda ash market
Today, the domestic soda ash market continues to operate slowly and steadily. As of now, the price of light soda ash in Northeast China is between 1,950 - 2,050 yuan/ton, and the price of heavy soda ash is between 2,150 - 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; individual soda plants have been repaired, and the overall start has been slightly reduced; Downstream demand continues to be poor, procurement is prudent at low prices, and some soda ash companies continue to accumulate warehouses; the market transaction atmosphere continues to be light, and the soda ash market remains weak.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on August 8, was 1722 yuan/ton, and finally closed at 1707 yuan/ton, an increase of-1.50% within the day. The highest intraday session was 1736 yuan/ton, the lowest was 1693 yuan/ton, with a total position of 624840 lots, a month-on-month period of-25190 lots.
Today, soda ash futures prices continued to be weak and downward. Affected by the overall decline in sentiment of related varieties in the commodity market, they once fell below the 1700 yuan/ton mark in intraday trading. At present, the logic of soda ash's own fundamentals is weak cannot be broken, and the price is difficult to be driven by rebound. However, the current position is facing spot prices and cost support, and there are still repeated funds. However, the key issue in the follow-up still lies on the demand side. If demand cannot be repaired, it will be difficult for the supply side disturbance to improve the actual supply and demand relationship, and spot prices will also be difficult to support, and the focus of futures prices may continue to move downward accordingly.
market outlook
Maintenance plans are still in place in the future, and the supply side will decrease slightly; but downstream demand is sluggish, and purchases will remain in need; there are not many new orders in the market, and the game between supply and demand in the soda ash market remains unchanged, and it is expected to remain weak in the short term.
