[Soda ash]10.29 Soda ash Daily Review: Soda ash market trend is weak and stable

Analysis of soda ash market

Today, China's soda ash market is operating slowly and steadily. As of now, the price of light soda ash in North China is 1,600 - 1,700 yuan/ton, and the price of heavy soda ash is 1,650 - 1,800 yuan/ton; the price of light soda ash in South China is 1,700 - 1,750 yuan/ton, and the price of heavy soda ash is 1,750 - 1,850 yuan/ton. Today, the overall start of the soda ash market remains at a high level, and the supply side is still relatively sufficient; but downstream demand is sluggish and the willingness to purchase is not strong, mainly based on low-cost and just-needed purchases; the market trading atmosphere is weak, supply and demand continue to game, and the actual transaction price range is weak. Operation, the overall market is under pressure.

Futures dynamics

According to Boduo data, the opening price of SA2501, the main contract for soda ash, on October 29, was 1555 yuan/ton, and finally closed at 1517 yuan/ton, an increase of-1.24% within the day. The intraday high was 1585 yuan/ton, the lowest was 1503 yuan/ton, with a total position of 1244291 lots, a month-on-month +1932 lots.

Today, soda ash futures prices surged high and fell mainly. Today, the market's hype about important central meetings has cooled down. Coupled with news that the products of a major natural soda factory met delivery standards again, soda ash futures prices have weakened significantly. At present, the fundamentals of soda ash itself are still suppressed by expectations of increased supply and reduced demand. However, at a time when macro expectations are repeated, the market's expectations for recent important meetings are still high, and news disturbances will become more frequent. Before policy expectations are falsified, the market may maintain wide fluctuations and wait for expectations to materialize.

market outlook

The operation of soda ash units is basically stable, and the market starts to continue to consolidate at a high level; downstream goods collection performance is average, and there is no obvious support on the demand side; market sentiment is weak, and it is expected that the soda ash market will operate weakly and steadily in the short term, with narrow-range adjustments dominated.