[Soda ash] Daily Review of Soda ash on October 19
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October 19, 2023, 5:32 PM Analysis of soda ash market
Today, China's soda ash maintains a downward trend. As of now, the price of light soda ash in North China is between 2,700 - 2,900 yuan/ton, and the price of heavy soda ash is between 2,900 - 3,100 yuan/ton; the price of light soda ash in Northeast China is between 2,750 - 2,900 yuan/ton, and the price of heavy soda ash is between 3,000 - 3,200 yuan/ton; the start of soda ash remains high, the market output reaches a record high, and manufacturers 'inventories maintain a trend of accumulating; Downstream demand is weak, the market is buying up but not buying down, procurement remains cautious, and soda ash prices are weak.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on October 19, was 1709 yuan/ton, and finally closed at 1732 yuan/ton, holding 969042 positions.
market outlook
The supply of soda ash is stable, and companies in the downstream industry are generally motivated to purchase, so they should be cautious and wait and see. As soda ash manufacturers gradually complete the delivery of orders in hand, the overall price of new orders in the market is on a downward trend. It is expected that the soda ash market will weaken and decline in the short term.
