May 24 soda soda daily review
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May 24, 2023, 4:56 PM Analysis of soda ash market
Today, China's soda ash market remains weak. As of now, the price of light soda ash in North China is between 2,100 - 2,200 yuan/ton, and the price of heavy soda ash is between 1,950 - 2,350 yuan/ton; the price of light soda ash in South China is between 2,050 - 2,200 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,300 yuan/ton; the overall soda ash market has started at a high level and the market supply is sufficient; The market price of soda ash continues to fall, downstream companies maintain on-demand procurement, and market procurement enthusiasm is not high. In the short term, the soda ash market continues to operate weakly.
Futures dynamics
According to Boduo data, the opening price of SA2309, the main contract for soda ash, on May 24, was 1629 yuan/ton, and finally closed at 1617 yuan/ton, holding 1325663 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.
