Analysis of soda ash market
Today, the prices of soda ash in some regions of China have been slightly adjusted. As of now, the price of light soda ash in East China is between 2,100 - 2,250 yuan/ton, and the price of heavy soda ash is between 2,200 - 2,300 yuan/ton; the price of light soda ash in Central China is between 2,000 - 2,200 yuan/ton, and the price of heavy soda ash is between 2,150 - 2,250 yuan/ton; the start-up of soda ash enterprises has remained stable, the start-up of individual enterprises has increased, and the market supply has increased; Procurement in the downstream market is still cautious, companies have a strong wait-and-see attitude, supply and demand in the soda ash market are in a game, and some prices are negotiated individually.
Futures dynamics
According to Boduo data, the opening price of SA2409, the main contract for soda ash, on May 13, was 2166 yuan/ton, and finally closed at 2216 yuan/ton, an intraday increase of +0.41%. The intraday high was 2218 yuan/ton, the lowest was 2152 yuan/ton, with a total position of 768339 lots, a month-on-month +7919 lots.
Today, soda ash futures prices bottomed out and rebounded mainly. Spot market prices are relatively stable. Although they suppress the upside of futures prices to a certain extent, they also form support for the bottom of prices. The current supply reduction and demand growth expectations faced by the main contract have not yet been falsified. However, with the growth of downstream raw material inventories and the resistance to high-priced raw materials, the periodic contradiction between supply and demand has slowed down, which cannot constitute further positive feedback for the time being. In the short term, the market or Maintain high levels of shocks and wait for new drivers.
market outlook
The start-up of the soda ash market fluctuated slightly. The start-up load of individual enterprises increased, and the operating rate of the soda ash market increased. The downstream market demand was temporarily stable, the demand for light soda was acceptable, and the demand for heavy soda was average. Market procurement remained cautious, and the soda ash market was expected to fluctuate in the short term.
