[Soda ash] Daily Review of Soda ash on November 1
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November 2, 2023, 5:07 PM Analysis of soda ash market
Today, China's soda ash market has dropped sharply. As of now, the price of light soda ash in North China is 2,100 - 2,400 yuan/ton, and the price of heavy soda ash is 2,300 - 2,600 yuan/ton; the price of light soda ash in Northeast China is 2,200 - 2,500 yuan/ton, and the price of heavy soda ash is 2,400 - 2,600 yuan/ton; Today, Henan Junhua has resumed production, enterprises have not yet recovered, and the market operating rate is still at a high level; Spot soda ash continues to fall, and the market sentiment is more pessimistic. Companies are more wait-and-see and purchasing is more cautious. Most soda ash companies will not quote new orders for the time being, and the transaction price will be negotiated on a single basis.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on November 2, was 1734 yuan/ton, and finally closed at 1738 yuan/ton, holding 936006 lots.
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.
