3.21 Soda Ash Daily Review: Soda Ash Market Weakly Stable

Soda Ash Market Analysis
Today, the domestic soda ash market is weakly stable. As of now, the price of light soda ash in South China is 1550-1700 yuan/ton, and the price of heavy soda ash is 1600-1750 yuan/ton; the price of light soda ash in Central China is 1300-1550 yuan/ton, and the price of heavy soda ash is 1550-1600 yuan/ton. Recently, the soda ash plant has been stable with small changes, and the supply side has maintained low-level adjustments; downstream enterprises have just followed up rationally, maintained low-demand purchases, and wait-and-see sentiment is strong; the current soda ash spot market trend is strong, and the dull trading atmosphere has not been broken.

Futures Dynamics
According to Boduoduo data: On March 21, the opening price of the main soda ash contract SA2505 was 1421 yuan/ton, and finally closed at 1410 yuan/ton, with a daily increase of -0.84%. The intraday high was 1433 yuan/ton, the low was 1395 yuan/ton, and the total position was 1150948 lots, up 18497 lots from the previous month.

Today, the price of soda ash futures fluctuated downward. On the one hand, it was driven by the weakening of the overall market macro sentiment. On the other hand, the fundamentals of soda ash itself were weak. The maintenance of large factories in the early stage was coming to an end, and the subsequent supply disturbance may slow down. Although there is an expectation of scale repair on the demand side, the downstream acceptance capacity is weak in the short term, and it is difficult to form a large-scale demand repair drive. It is mainly maintained in a weak shock in the short term, and the actual demand improvement in the future is expected.

Market forecast
Subsequent soda ash equipment maintenance and recovery coexist, and the supply of soda ash will fluctuate at a low level; there is an expectation of ignition in the downstream of photovoltaics, which provides certain support for the rigid demand of soda ash; it is expected that the soda ash market will be narrowly consolidated in the short term, and attention should still be paid to the subsequent device dynamics and changes in the downstream procurement rhythm.