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Caustic soda: Futures prices fluctuate in a narrow range, the market continues to reduce positions, and spot prices coexist with ups and downs

93,266
November 8, 2023, 3:53 PM


Caustic soda futures analysis:    November 8 SH2405 contract opening price: 2638, highest price: 2668, lowest price: 2636, spread: 32, position: 64082, reduced position: 2652, settlement price: 2656, yesterday settlement: 2671, down: 15, closing price: 2665, daily trading volume: 98689 hands, precipitated capital: 1.23 billion, capital outflow: 39.84 million.

 

Market price of caustic soda:

Summary of market price of caustic soda (unit: yuan / ton)

Specifications

Market

November seventh

November eighth

Rise and fall

Remarks

32% ionic membrane alkali

Northeast China

950-1350

950-1350

0/0

Ex-factory price

Northwest

800-864

784-864

-16/0

Ex-factory price

North China

750-840

750-840

0/0

-

Hebei

810-840

810-840

0/0

Ex-factory price

South China

950-1250

950-1250

0/0

Can price

Shandong

730-820

730-850

0/30

Current exchange rate

Zhejiang

1050-1100

1050-1100

0/0

-

Jiangsu Province

790-860

790-860

0/0

Delivery price

Tianjin

2600-2650

2600-2650

0/0

A discount of 100%

Anhui Province

760-880

800-880

40/0

Ex-factory price

Henan

2850-3000

2850-3000

0/0

A discount of 100%

50% ionic membrane alkali

North China

1270-1380

1270-1380

0/0

Ex-factory price

Hebei

1440-1450

1440-1450

0/0

Ex-factory price

Shandong

1250-1300

1250-1300

0/0

Current exchange rate

Tianjin

2900-3000

2900-3000

0/0

A discount of 100%

Southwest

3200-3300

3200-3300

0/0

A discount of 100%

99% tablet alkali

Northwest

2650-3000

2700-3000

50/0

Ex-factory price

Shandong

3500-3600

3500-3600

0/0

Ex-factory price

45% ionic membrane alkali

Northeast China

1680-1750

1680-1750

0/0

Ex-factory price

49% ionic membrane alkali

Jiangsu Province

1320-1430

1320-1430

0/0

Ex-factory price

30% ionic membrane alkali

Southwest

940-1000

940-1000

0/0

-

48% ionic membrane alkali

Henan

3100-3250

3100-3250

0/0

A discount of 100%

 

Caustic soda spot analysis:      today, the trend of China's caustic soda market still shows regional differences, the market trading atmosphere is better in some areas than in the previous period, the price of liquid caustic soda rises and falls, and the transaction price of tablet caustic soda moves up relatively. Today, the price adjustment in some areas of the liquid alkali market is mainly, and the market trend in most areas is stable. From the point of view of the price adjustment in various regions, 32% of the ion-exchange membrane alkali individually fell by 16 yuan / ton. The local rise was 30-40 yuan / ton, 50% ion-exchange membrane alkali fell 100 yuan / ton, and 30% ion-exchange membrane alkali fell 40 yuan / ton. The prices of other concentrations of alkali remained stable, and there was no obvious adjustment in the price range. The early parking devices in individual areas restart, the local supply increases, the demand mostly maintains the previous level, and the local market price decreases somewhat; the inventory of local liquid alkali enterprises is not high, which slightly supports the local price, coupled with the obvious and frequent price decline in the early stage, so the price level increases relatively slightly; prices in individual areas are boosted by peripheral price increases. The market prices in other regions are stable, the changes between supply and demand are not obvious, the market mentality is more cautious, and there is no obvious price adjustment. Upstream production enterprises in some areas manufacturers adjust ex-factory quotations, the adjustment direction is different, mostly concentrated in Shandong area, other areas only individual manufacturers adjust quotations. In today's tablet alkali market, the factory quotations of most manufacturers have been raised by 50 yuan / ton this week, and most manufacturers have no inventory, and a few have a small amount of inventory, but it does not affect the overall inventory of the market. Transaction prices in various regional markets are relatively stable today after yesterday's adjustment. Factory shipments are better, some traders reflect the shipment situation is OK, today's market transaction prices in most areas have not changed significantly.

 

Caustic soda futures analysis:    caustic soda SH2405 contract fluctuates mainly in a wide range above and below the 2655 line today. Night prices fluctuated after rising, showed a "M" trend in the morning, and rebounded after the afternoon decline. As of today's close, SH2405 contracts fluctuated in the range of 2636-2668 throughout the day, with a price gap of 32 and a reduction of 2652 positions in contracts, with 64082 positions so far.

 

Caustic soda index analysis: according to Tu Duoduo data, China's caustic soda index fell by 0.18% to 2823.55, down 5.08%, while China's caustic soda index fell.

 

 

Prediction of the later stage of caustic soda:    

Futures: the futures price of caustic soda SH2405 contract reached a high of 2668, in line with our expectations yesterday. Market turnover: 16.7% more than short opening 15.7%, empty 20.1% compared with 17.3%, more open than short open, but from the point of view of large orders, it is 10.2% more than short open, and the proportion of short positions is relatively large. The technical level shows that the Bollinger belt (13, 13, 2) opens upward, and the current price is repeatedly tested in the on-track position, and may still be winding on the track in the short term, continue to test the on-rail pressure level and pay attention to the 2680 position.

Spot price: at present, spot prices are mainly adjusted regionally, and each region flexibly adjusts prices according to local influencing factors and enterprises' own conditions. at present, the supply in the liquid alkali market is still relatively sufficient, but from the perspective of inventory, the inventory pressure in some areas has been alleviated recently, the restart of a liquid alkali plant in Northwest China is more obvious to the local bad, and the market has responded in the past two days. There are some equipment maintenance conditions in individual areas, which can boost the local storage, and the influencing factors of the liquid alkali market as a whole are different, and the prices rise and fall each other. It is expected that the short-term liquid alkali market trend will continue to operate differently, and each region will adjust the price flexibly. Recently, most operators in the tablet alkali market reflect that the shipment situation has improved, and the manufacturers have no inventory, coupled with the price increase of the manufacturers' new order this week, which plays a supporting role in the market, and their mentality is higher than that of the previous period, and it is expected that the price of the short-term tablet alkali market may be mainly sorted out.

 

Market price of liquid chlorine:

Summary of market price (unit: yuan / ton)

Area

November seventh

November eighth

Rise and fall

Remarks

Northeast China

300-500

300-500

0/0

Tank car quotation

Shandong province

400-500

400-500

0/0

Tank car quotation

Zhejiang Province

500-600

500-600

0/0

Tank car quotation

East China region

250-300

300-350

50/50

Tank car quotation

Southwest China

400-600

400-600

0/0

Tank car quotation

Central China

150-350

150-350

0/0

Tank car quotation

Inner Mongolia

350-450

350-450

0/0

Tank car quotation

Anhui province

100-150

250-300

150/150

Tank car quotation

Hebei Province

400-600

400-600

0/0

Tank car quotation

 

Liquid chlorine index analysis:    according to Tuduoduo data, on November 8, China's liquid chlorine spot index was 416.67, up 27.78%, or 7.14%. China's liquid chlorine index rose.

 

 

Caustic soda holding the list: