[Soda ash] Soda ash Daily Review on October 31
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October 31, 2023, 4:57 PM Analysis of soda ash market
Today, the focus of transactions in China's soda ash market is steadily moving downward. As of now, the price of light soda ash in Southwest China is between 2,300 - 2,500 yuan/ton, and the price of heavy soda ash is between 2,550 - 2,750 yuan/ton; the price of light soda ash in Northeast China is between 2,500 - 2,700 yuan/ton, and the price of heavy soda ash is between 2,600 - 2,800 yuan/ton; Today, the Jingshen installation in Jiangsu Province has been restored, other soda ash manufacturers have started to maintain stability, and the market supply is sufficient; The soda ash market has continued to decline, companies have been more cautious in purchasing, soda ash manufacturers 'inventories have maintained an upward trend, transaction prices have been negotiated, and the market has remained weak.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on October 31, was 1745 yuan/ton, and finally closed at 1729 yuan/ton, holding 966805 positions.
market outlook
The soda ash market has weakened while stabilizing, the downstream market has a strong wait-and-see attitude, market transactions are scarce, the shipping pressure of soda plants has increased, the price of new orders has been adjusted, and the market continues to maintain a downward trend.
