Analysis of soda ash market
Today, the spot price of soda ash in China is stable and declining. As of now, the price of light soda ash in the northwest region is between 1,850 - 1,950 yuan/ton, the price of heavy soda ash is between 1,850 - 2,050 yuan/ton, and the price of light soda ash in the southwest region is between 2,250 - 2,500 yuan/ton, and the price of heavy soda ash is between 2,350 - 2,500 yuan/ton; the start of soda ash enterprises is basically normal, and individual enterprises have a small amount of reduction, and the overall market has little impact; Recently, there has been a lack of interest in new orders in the soda ash market. Coupled with the influence of the weather, shipments in some areas have been restricted. The inventory of soda ash manufacturers has increased, and spot prices have been weak and downward. In the short term, there is a game between supply and demand in the soda ash market, and the market has remained weak.
Futures dynamics
According to Boduo data, the opening price of SA2405, the main contract for soda ash, on February 21, was 1850 yuan/ton, and finally closed at 1839 yuan/ton, an intraday increase of +0.16%. The intraday high was 1884 yuan/ton, the lowest was 1826 yuan/ton, with a total position of 474379 lots, a month-on-month +10237 lots.
Today, the main contract for soda ash fluctuated within a narrow range. The news that the Shanxi Development and Reform Commission had ordered large local coal companies to reduce production caused the dual-focus panel to rise sharply, and related black and coal chemical products were all driven by emotion. The superimposed market has once again spread a small composition about an important conference system's beneficial policy, which has led to a warming of the overall environment of the current financial market. However, market sentiment began to fall in the afternoon, and market trading returned to the logic of various varieties. The logic of soda ash itself is currently supported by the theoretical cost of ammonia and soda of 1800 yuan, and there is currently no further downward drive. The market is currently waiting for downstream resumption of work and replenishment after the holiday and feedback from the spot side. Before that, the market may be dominated by shocks.
market outlook
As inquiries in the soda ash market resume one after another, the market's willingness to purchase is not high, so we should operate more cautiously and maintain the focus of replenishing goods just needed. While the market supply is high, the soda ash market is showing a trend of oversupply, and the inventory of some companies is increasing. It is expected that in the short term, the soda ash market will be volatile and weak.
