[Soda ash]11.15 Soda ash Daily Review: Soda ash market continues to operate weakly and stably

Analysis of soda ash market

Today, China's soda ash market is operating weakly and steadily. As of now, the price of light soda ash in Central China is 1,350 - 1,550 yuan/ton, and the price of heavy soda ash is 1,500 - 1,600 yuan/ton; 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. Recently, the soda ash market has performed steadily, with few maintenance companies, and only a few devices have experienced narrow fluctuations; downstream demand has performed poorly, and many low-price purchases are made on demand, resulting in a strong wait-and-see attitude; soda ash stocks continue to be sufficient, and manufacturers mainly actively release the warehouse. The overall price remains weak and stable, and transactions are flexible.

Futures dynamics

According to Boduo data, the opening price of SA2501, the main contract for soda ash, on November 15, was 1508 yuan/ton, and finally closed at 1470 yuan/ton, an increase of-3.23% within the day. The intraday high was 1527 yuan/ton, the lowest was 1467 yuan/ton, and the total position was 1155038 lots, a month-on-month increase of 8627 lots.

Soda ash futures prices fell sharply today.On the one hand, the global monetary policy space was suppressed mainly due to the Federal Reserve Chairman's hawkish remarks last night, which caused the rate of interest rate cuts to slow down again, and the overall market macro sentiment fell further. On the other hand, the gradual weakening of the downstream glass market has caused the early demand for soda ash to weaken simultaneously. In the short term, before the disturbance problem on its own supply side is further fermented, soda ash prices may mainly follow the fluctuations in downstream and overall market sentiment.

market outlook

The company's plan to reduce the number of enterprises in the early stage will resume, and the market supply will consolidate at a high level; the downstream is still mainly in need of replenishment, and the intention to stock up is weak; the market supply and demand pattern may not improve significantly in the short term, and it is expected to remain weak.