[Soda ash] Daily Review of Soda ash on October 26
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October 26, 2023, 5:01 PM Analysis of soda ash market
Today, China's soda ash market is weak and stable. As of now, 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 price of light soda ash in North China is between 2,500 - 2,800 yuan/ton, and the price of heavy soda ash is between 2,700 - 3,000 yuan/ton; the soda ash market remains weak, procurement in the downstream market remains cautious, shipments of new orders are still poor, and the inventory of soda ash manufacturers maintains an increasing trend; Spot prices have continued to fall, and most companies are currently not quoting, and transaction prices are negotiated on a single basis.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on October 26, was 1699 yuan/ton, and finally closed at 1665 yuan/ton, holding 1002368 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.
