Analysis of soda ash market
Today, soda ash market prices in China are temporarily stable. As of now, the price of light soda ash in Northwest China is 1,100 - 1,250 yuan/ton, and the price of heavy soda ash is 1,100 - 1,250 yuan/ton; the price of light soda ash in South China is 1,650 - 1,750 yuan/ton, and the price of heavy soda ash is 1,700 - 1,800 yuan/ton. Recently, soda ash manufacturers in many places have been understaffed, but abundant inventories have kept the market supply still high; downstream demand performance continues to be weak, and procurement is mainly low-cost and on-demand, which has limited support for the soda ash market; the overall trading atmosphere has been relatively cold, and soda ash The market remains weak.
Futures dynamics
According to Boduo data, the opening price of SA2501, the main contract for soda ash, on November 22, was 1508 yuan/ton, and finally closed at 1481 yuan/ton, an increase of-0.67% within the day. The highest intraday session was 1508 yuan/ton, the lowest was 1466 yuan/ton, with a total position of 1068913 lots, a month-on-month period of-57477 lots.
Today, soda ash futures prices opened high and went low, falling overall with the market environment. At present, the fundamentals of soda ash itself are still weak, and the subsequent photovoltaic glass reduction plan has once again flowed out in large quantities, which further strengthens the expected pressure on shrinking demand for soda ash. However, as the end of the month approaches, there is a problem that the downstream bank just needs to replenish the treasury, and the subsequent period is also facing emotional disturbance during a new round of policy window. In the short and medium term, it is not recommended to be overly bearish.
market outlook
Enterprises that reduced their production in the early stage will gradually resume operations, and market supply will consolidate at a high level; affected by weak downstream demand at the end of the month, efforts to replenish stocks will be limited; it is expected that the soda ash market will operate weakly and steadily in the short term.
