[Soda ash] Daily Review of Soda ash on October 24
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October 24, 2023, 5:34 PM Analysis of soda ash market
Today, China's soda ash market is still weak. As of now, the price of light soda ash in Southwest China is between 2,500 - 2,700 yuan/ton, and the price of heavy soda ash is between 2,650 - 2,750 yuan/ton; the price of light soda ash in Central China is between 2,100 - 2,500 yuan/ton, and the price of heavy soda ash is between 2,500 - 2,600 yuan/ton; individual soda plants have been repaired, and the overall market has remained high; Downstream demand is still weak, market procurement and soda ash companies have slowed down; soda ash market prices have maintained a downward trend, the market wait-and-see attitude is strong, and transaction prices have been negotiated on a single basis.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on October 24, was 1689 yuan/ton, and finally closed at 1690 yuan/ton, holding 943570 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.
