May 22 soda daily review
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May 22, 2023, 4:23 PM Analysis of soda ash market
Today, China's soda ash market has fallen again. As of now, the price of light soda ash in Central China is between 1,800 - 2,000 yuan/ton, and the price of heavy soda ash is between 2,000 - 2,200 yuan/ton; the price of light soda ash in South China is between 2,150 - 2,300 yuan/ton, and the price of heavy soda ash is between 2,300 - 2,550 yuan/ton; the soda market is still weak and market shipments have not improved; Fengcheng Salinization Plant has resumed production, and other maintenance companies are still under-operating; The pressure on shipments in the spot market is high. The price of new orders in the soda ash market continues to fall. The market on the disk fluctuates downward, and the market is pessimistic.
Futures dynamics
According to Boduo data, the opening price of SA2309, the main contract for soda ash, on May 22, was 1750 yuan/ton, and finally closed at 1601 yuan/ton, holding 1311473 positions.
market outlook
Due to the continuous decline in the spot and futures markets in the soda ash market, the market mentality has been damaged. Some companies have installed equipment maintenance. Currently, the industry is operating at around 80%. Demand in the downstream market is still weak. Companies continue to need procurement, and the soda ash market continues to operate in a weak manner.
