SunSirs: The Soda Ash Market Was Mainly Stable This Week

https://www.chemnet.com   Nov 05,2024 SunSirs

Price trend

According to the commodity analysis system of SunSirs, the price of light soda ash remained stable this week. On October 31st, the average market price of soda ash was 1,584 RMB/ton, and on October 28th, the soda ash price was 1,584 RMB/ton. The price remained stable during the week, with a decrease of 1.86% compared to the beginning of the month.

Analysis review

According to the commodity analysis system of SunSirs, the soda ash market remained stable this week. On the supply side, the utilization rate of soda ash production capacity had been reduced, and the market supply of goods had slightly decreased. However, in terms of demand, downstream follow-up was still weak, and the consumption of soda ash was not obvious. On site trading was weak, and soda ash enterprises had accumulated inventory. The soda ash market remained weak and watchful during the week.

As of October 31st, 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 continued to rise. From October 28th to 31st, the price of glass increased from 15.75 RMB/square meter to 15.95 RMB/square meter, an increase of 1.27%. The downstream demand in the glass market was good, with smooth shipments from manufacturers and significant destocking in the market. Glass prices were rising steadily, and the market was running strongly this week.

Market outlook

As of October 21st, the utilization rate of domestic soda ash production capacity continued to be high, the inventory of spot soda ash plants was sufficient, and the sales of enterprises were under pressure. The downstream glass price market was relatively strong, but the boost to the demand for soda ash market was limited. Under the supply-demand game, it is expected that the short-term soda ash will continue to consolidate to be weaker, and specific attention should be paid to downstream demand follow-up.

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