Analysis of soda ash market
Today, China's soda ash market is operating steadily and weakly. As of now, the price of light soda ash in East China is between 1,450 - 1,600 yuan/ton, and the price of heavy soda ash is between 1,500 - 1,600 yuan/ton; the price of light soda ash in Central China is between 1,400 - 1,550 yuan/ton, and the price of heavy soda ash is between 1,500 - 1,600 yuan/ton. Soda ash manufacturers have maintained stable start-up operations and sufficient market supply; downstream procurement is mainly sporadic and just needed, and overall demand fluctuates little; near the end of the month, the prices of some new orders have not yet been announced, and the market has a strong wait-and-see attitude, and companies 'willingness to support prices needs to be considered. The soda ash market remains weak and stable.
Futures dynamics
According to Boduo data, the opening price of SA2501, the main contract for soda ash, on November 26, was 1502 yuan/ton, and finally closed at 1502 yuan/ton, an increase of-0.33% within the day. The highest intraday session was 1512 yuan/ton, the lowest was 1485 yuan/ton, with a total position of 1055968 lots, a month-on-month period of-22787 lots.
Today, soda ash futures prices remained within a narrow range of fluctuations, mostly following fluctuations in the market environment. At present, the soda ash market's own fundamental surplus pattern strongly suppresses prices. However, the short-term market is facing a phased improvement in demand for light soda and the current situation of downstream stocks just needing to replenish stocks at the end of the month. The combined macro sentiment of the market has not completely falsified, and its own driving force is not obvious for the time being., maintain a narrow fluctuation in the market in the short term.
market outlook
Enterprises that reduced their production in the early stage will gradually resume operations, and market supply is expected to remain consolidating at a high level. At the end of the month, the downstream market's willingness to replenish stocks is not obvious for the time being. Specific attention will be paid to market dynamics. It is expected that the soda ash market may operate slowly and steadily in the short term.
