[Soda ash] Daily Review of Soda ash on November 8
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November 8, 2023, 4:55 PM Analysis of soda ash market
Today, China's soda ash market is operating weakly and steadily. As of now, the price of light soda ash in the northwest region is between 1,850 - 1,950 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,150 yuan/ton; the price of light soda ash in the southwest region is between 2,050 - 2,300 yuan/ton, and the price of heavy soda ash is between 2,300 - 2,600 yuan/ton; Recently, the overall supply in the soda ash market has been relatively stable, and individual companies have reduced production; Driven by the rise in futures, the atmosphere for spot soda ash transactions has warmed up, and company shipments have increased; some manufacturers have accumulated inventories, and soda ash prices are still a single discussion.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on November 8, was 1871 yuan/ton, and finally closed at 1914 yuan/ton, holding 770615 lots.
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.
