SunSirs: The Soda Ash Market Was Running Weakly and Steadily This Week

https://www.chemnet.com   Oct 29,2024 SunSirs

Price trend

According to the commodity analysis system of SunSirs, the price of light soda ash remained stable this week. On October 25th, the average market price of soda ash was 1,594 RMB/ton, and on October 21st, the price of soda ash was 1,594 RMB/ton. The price remained stable during the week, with a 1.24% decrease from the beginning of the month.

Analysis review

According to the commodity analysis system of SunSirs, the overall soda ash market had been weak and stable this week. On the supply side, the utilization rate of soda ash production capacity had slightly increased, the market supply had increased, and the prices at the beginning of the week had mostly stabilized; In terms of demand, the downstream market had risen, which boosted the mentality of the soda ash market. However, due to the high inventory and consumption in the early stage of the downstream market, actual transactions in the market were limited, and only some areas of soda ash had slightly increased during the week.

As of October 25th, the reference price for the soda ash market in East China was around 1,420-1,600 RMB/ton for light soda ash; The reference price for the soda ash market in Central China was around 1,370-1,600 RMB/ton for the mainstream price of light soda ash.

According to the commodity analysis system of SunSirs, the downstream glass market had risen strongly. From October 21st to 25th, the price of glass increased from 14.75 RMB/square meter to 15.00 RMB/square meter, an increase of 1.69%. The demand in the glass market had increased, manufacturers were shipping smoothly, total inventory of enterprises had decreased, glass prices had been raised narrowly, and the overall market trend had been strong during the week.

Market outlook

As of October 25th, the utilization rate of domestic soda ash production capacity remained high, and the inventory pressure of spot soda ash plants still existed. The downstream glass price market was improving, which may provide positive support for the soda ash market. Under the game of supply and demand, it is expected that soda ash will undergo a narrow consolidation in the short term, with specific attention paid to downstream demand follow-up.

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