3.10 Soda Ash Daily Review: Soda Ash Market Slightly Decreased

Soda ash market analysis
Today, the domestic soda ash market fell narrowly. As of now, the price of light soda ash in the northwest region is 1100-1200 yuan/ton, and the price of heavy soda ash is 1100-1200 yuan/ton; the price of light soda ash in central China is 1350-1550 yuan/ton, and the price of heavy soda ash is 1500-1600 yuan/ton. The overall operating rate of soda ash enterprises remains stable, and some enterprises are operating at reduced load; downstream enterprises are in a wait-and-see mood, and procurement is mainly based on rigid demand. The market trading atmosphere is relatively dull, and the overall performance is stable and weak.

Futures dynamics
According to Boduoduo data: On March 10, the opening price of the main soda ash contract SA2505 was 1437 yuan/ton, and it finally closed at 1434 yuan/ton, with a daily increase of -1.38%. The highest price during the session was 1452 yuan/ton, the lowest price was 1416 yuan/ton, and the total position was 1179235 lots, a month-on-month decrease of -13731 lots.

Today, the overall price of soda ash futures is mainly weak and volatile. The current soda ash supply-side disturbance problem still exists, but the maintenance of large factories may be nearing the end, and the actual loss on the supply side may be less than expected. The downstream demand scale growth is expected to continue, but there is no obvious narrowing of the supply-demand gap in the short term, and the mid- and upper-stream inventory is strongly suppressed, and the overall excess logic has not changed. In the short term, the soda ash market lacks new drivers, but the expectation of demand scale repair still provides certain support for the low valuation of soda ash. It is temporarily maintained in a weak and volatile state, and it is expected that the supply-demand gap repair path can be maintained.

Market outlook
In the short term, some soda ash manufacturers' devices will maintain reduced-load production, the overall market operation will remain stable, and downstream companies will purchase just in time. It is expected that the soda ash market will consolidate in a narrow range in the short term, and it is still necessary to pay attention to the subsequent device dynamics and changes in the downstream purchasing rhythm.