May 23 soda soda daily review
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May 23, 2023, 4:26 PM Analysis of soda ash market
Today, China's soda ash market still maintains a weak operation. As of now, the price of light soda ash in Northeast China is between 2,300 - 2,450 yuan/ton, and the price of heavy soda ash is between 2,400 - 2,600 yuan/ton; the price of light soda ash in Northwest China is between 1,600 - 1,950 yuan/ton, and the price of heavy soda ash is between 1,700 - 1,850 yuan/ton; the industry starts to remain at a high level, and there are few market maintenance companies; Demand in the downstream market is sluggish, market shipping pressure is high, and corporate price competition pressure is high. Soda ash companies are reducing prices and ensuring quantity, and the soda ash market is stable and declining.
Futures dynamics
According to Boduo data, the opening price of SA2309, the main contract for soda ash, on May 23, was 1612 yuan/ton, and finally closed at 1622 yuan/ton, holding 1311785 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.
