[Soda ash] Daily Review of Soda ash on November 6
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November 6, 2023, 5:26 PM Analysis of soda ash market
Today, the price of soda ash in China is basically stable. As of now, the price of light soda ash in South China is between 2,100 - 2,200 yuan/ton, and the price of heavy soda ash is between 2,450 - 2,500 yuan/ton; the price of light soda ash in North China is between 2,000 - 2,100 yuan/ton, and the price of heavy soda ash is between 2,300 - 2,350 yuan/ton; some maintenance companies have not resumed production yet last week, and market starts have decreased slightly; Downstream companies are just in need of replenishment, but the enthusiasm for market procurement is still not high, and the market has a strong wait-and-see atmosphere.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on November 6, was 1791 yuan/ton, and finally closed at 1856 yuan/ton, holding 865339 positions.
market outlook
The soda ash market has maintained a weak operation, and market prices have continued to decline. Although the spot price of soda ash has stopped falling slightly due to the shrinking supply, the overall market supply is still relatively sufficient. However, the demand of downstream companies has not increased yet. Enterprises are still relatively cautious in purchasing, and manufacturers 'inventories continue to accumulate, and the soda ash market will still operate weak in the short term.
