[Soda ash] Daily Review of Soda ash on October 23
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October 23, 2023, 5:29 PM Analysis of soda ash market
Today, the market price of soda ash in China continues to fall, with a drop of 100-200 yuan/ton. As of now, the price of light soda ash in Central China is between 2,100 - 2,750 yuan/ton, and the price of heavy soda ash is between 2,500 - 2,650 yuan/ton; The price of light soda ash in South China is between 2,500 - 2,600 yuan/ton, and the price of heavy soda ash is between 2,600 - 2,800 yuan/ton; the soda market has remained stable, and some manufacturers have reduced their prices slightly; Soda ash prices have fallen rapidly, and the market has many depressed prices. The market has a strong wait-and-see attitude, and some market participants are still bearish on the future outlook.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on October 23, was 1712 yuan/ton, and finally closed at 1690 yuan/ton, holding 935196 positions.
market outlook
The price of soda ash in the market has continued to decline, and the current price has declined simultaneously in the near future. At present, the market supply remains stable and the market supply and demand are unbalanced. The soda ash market will continue to operate weakly in the short term.
