1、 Price trend
As of October 23rd, the average market price of light soda ash was 1025 yuan/ton, an increase of 25 yuan/ton compared to the price of 1050 yuan/ton on October 19th, a decrease of 2.38%. The soda ash market weakened and decreased during the week.
2、 Market analysis
Recently, the soda ash market has been running weakly. The maintenance of the supply side soda ash equipment has not yet been restored, and the operating rate is around 65%. Although the inventory of enterprises has decreased, the pressure of high social inventory of heavy soda ash still exists. At the beginning of the week, the market continued to decline, and market transactions were blocked, leading to some traders lowering their quotes. In terms of demand, the downstream glass industry is experiencing losses, with weak demand for heavy alkali procurement and a pessimistic outlook in the soda ash market, resulting in weak soda ash prices.
Data shows that the glass market has been operating weakly and steadily recently, with an average market price of 11.95 yuan/square meter from October 19th to 23rd. Some production lines in the glass market have plans for cold repair, but the overall production capacity reduction is limited, and the market supply expectations are still high. Downstream parties urgently need to follow up, and the glass market is slow to reduce inventory. Under the pressure of high inventory, the glass market lacks support for the demand for soda ash.
Future forecast: Currently, there is significant pressure on downstream inventory of soda ash in China, and the weak demand situation in the short term is difficult to improve. The centralized maintenance of the supply side provides support for the market, and there is a fundamental supply-demand game. There is a lack of market benefits, and the market mentality is mainly wait-and-see. It is expected that the soda ash market will stabilize and operate in the future, and specific attention will be paid to the market shipment situation.
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