[Soda ash] Daily Review of Soda ash on November 9
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November 9, 2023, 5:43 PM Analysis of soda ash market
Today, the price of light soda in some areas of China's soda ash market rebounded upward. As of now, the price of light soda ash in East China is between 2,000 - 2,250 yuan/ton, and the price of heavy soda ash is between 2,200 - 2,350 yuan/ton; the price of light soda ash in Central China is between 1,900 - 2,050 yuan/ton, and the price of heavy soda ash is between 2,100 - 2,300 yuan/ton; Recently, the demand for light soda has increased. Manufacturers 'orders on hand have increased. With low inventories, the price of light soda in some regions has increased. Companies with preferential policies have cancelled the discounts, and transaction prices have stabilized. The heavy soda market has not changed yet, and prices have temporarily stabilized.
Futures dynamics
According to Boduo data, the opening price of SA2401, the main contract for soda ash, on November 9, was 1903 yuan/ton, and finally closed at 1978 yuan/ton, holding 783856 positions.
market outlook
Soda ash prices fell to a low level in the early stage. Coupled with the continuous upward trend of soda ash futures in recent days, spot orders in the market have increased. However, manufacturers 'inventories in some regions are still under pressure, and market prices are weak and stable. The soda ash market may operate in a volatile manner in the short term.
