Analysis of soda ash market
Today, China's soda ash market is weak. As of now, the price of light soda ash in East China is 1,450 - 1,600 yuan/ton, and the price of heavy soda ash is 1,550 - 1,700 yuan/ton; the price of light soda ash in Central China is 1,350 - 1,650 yuan/ton, and the price of heavy soda ash is 1,550 - 1,650 yuan/ton. The start of the soda plant remained at a high level, and the operation of market equipment was stable and there was no significant change; downstream demand was still weak, procurement was mainly low-priced and on-demand, and the willingness to obtain goods was low; the market had a strong wait-and-see attitude, and the company's acceptance of new orders was poor, and the soda ash market showed a weak adjustment state.
Futures dynamics
According to Boduo data, the opening price of SA2501, the main contract for soda ash, on October 18, was 1474 yuan/ton, and finally closed at 1450 yuan/ton, an increase of-3.20% within the day. The highest intraday session was 1474 yuan/ton, the lowest was 1414 yuan/ton, with a total position of 1268920 lots, a month-on-month period of-20037 lots.
Today, soda ash futures prices remained mainly within a narrow range and rose slightly in the afternoon as the macro atmosphere warmed up. This week, soda ash's own fundamental supply increase and demand decrease is expected to increase again. After the market strength has obviously weakened relatively, the main logic is to follow the trend of downstream glass. Although the transaction atmosphere in the spot market has weakened somewhat, the quotation of soda plants has been temporarily stable under the support of early preparations. Soda ash is temporarily lacking new drivers. In the short term, it may remain volatile waiting for new policy expectations to take over the market.
market outlook
Soda ash enterprises have operated steadily and with small movements, and the start-up has maintained a narrow range of fluctuations; downstream stocking intentions are not strong, and there is no obvious support on the demand side; under high inventory pressure, soda ash market prices are expected to remain weak and stable in the short term.
