[Soda ash]11.5 Soda ash Daily Review: Individual prices in the soda ash market fell within a narrow range

Analysis of soda ash market

Individual prices in the soda ash market in China fell within a narrow range today. As of now, the price of light soda ash in Northeast China is 1,700 - 1,800 yuan/ton, and the price of heavy soda ash is 1,700 - 1,800 yuan/ton; the price of light soda ash in Southwest China is 1,500 - 1,600 yuan/ton, and the price of heavy soda ash is 1,600 - 1,700 yuan/ton. The overall operation of the soda ash plant is stable, and the supply is still high; downstream procurement is still mainly based on demand, and the overall demand performance is weak; the quotations of companies in some regions are slightly loose, and the market is mainly flexible in transactions, and most of them continue to follow the market.

Futures dynamics

According to Boduo data, the opening price of SA2501, the main contract for soda ash, on November 5, was 1529 yuan/ton, and finally closed at 1543 yuan/ton, an increase of 1.85% within the day. The highest intraday session was 1546 yuan/ton, the lowest was 1504 yuan/ton, with a total position of 1219157 lots, a month-on-month period of-24732 lots.

Soda ash futures prices rebounded slightly today, mainly driven by macro sentiment and the rise in downstream glass. However, it also reported that large manufacturers in Qinghai had reduced their losses, which stimulated market sentiment. But overall, soda ash itself is still weak, and there is a strong suppression of the space above the price. In the short term, there is also support from policy expectations and concerns about production reduction by high-cost companies, and the two factors often cooperate with each other. Therefore, the short-term market may still maintain wide fluctuations and wait for the implementation of policies.

market outlook

There are fewer follow-up market maintenance plans, and construction continues to hover at a high level; downstream stocks are mainly in need of replenishment, and the hoarding atmosphere is still poor; driven by no good, the soda ash market is expected to operate weakly in the short term.