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Analysis of soda ash market
Today, China's soda ash market continues to operate slowly and steadily. As of now, the price of light soda ash in Northwest China is between 1,200 - 1,350 yuan/ton, and the price of heavy soda ash is between 1,200 - 1,350 yuan/ton; the price of light soda ash in South China is between 1,700 - 1,750 yuan/ton, and the price of heavy soda ash is between 1,750 - 1,850 yuan/ton. In the early stage, the short-term shutdown devices were basically operating normally, and the start-up fluctuated within a narrow range; the market wait-and-see atmosphere was strong, coupled with the sluggish downstream procurement, the overall trading atmosphere was relatively cold, and there was no adjustment in market operations.
Futures dynamics
According to Boduo data, the opening price of SA2501, the main contract for soda ash, on November 1, was 1568 yuan/ton, and finally closed at 1539 yuan/ton, an increase of-1.97% within the day. The intraday high was 1573 yuan/ton, the lowest was 1523 yuan/ton, and the total position was 1258657 lots, a month-on-month +18536 lots.
Today, soda ash futures prices are mainly weak fluctuations with the overall market environment. Currently, soda ash itself has no obvious driving force. The logic of large excess still suppresses price elasticity, but there is also support in the short term. Due to the transfer of goods rights between the middle and upper reaches in the early stage, the inventory pressure of upstream manufacturers was more in terms of storage capacity, and the sales pressure was relatively slow, giving them a certain willingness to bid. Recently, although downstream glass production lines have shown signs of accelerating cold repair, the ability to undertake raw materials has strengthened after glass profits have been restored, and the two points have a certain hedging effect on each other. Coupled with the recent macro sentiment, the overall market has strong bottom support, and soda ash prices are mostly volatile waiting for the implementation of policy expectations next week.
market outlook
The soda ash plant is operating steadily and with small movements, and the market starts and continues to consolidate at a high level; the receiving atmosphere of traders is weak. In addition, downstream procurement is mainly based on demand, and market transactions continue to follow the market. It is expected that the soda ash market will continue to operate weakly and steadily in the short term.
