Price trend
According to the commodity analysis system of SunSirs, the price of light soda ash decreased on March 31st, with a market average price of 1,470 RMB/ton, a decrease of 0.68% compared to the previous trading day's price of 1,480 RMB/ton, and a decrease of 1.87% compared to the beginning of the month.
Analysis review
On March 31st, the soda ash market weakened and declined. On the demand side, the terminal market was weak, with a focus on entering the market and observing, resulting in insufficient support for soda ash; On the supply side, some enterprises have increased their load, resulting in an increase in the operating rate of soda ash. The market supply of goods has risen, and there was a clear trend of oversupply in the market. Under the game of supply and demand, soda ash enterprises have lowered their quotations.
On the demand side: According to the commodity analysis system of SunSirs, glass prices remained stable on March 31st, with the market average price remaining unchanged at 15.21 RMB/square meter. The glass market has not experienced significant changes in production, with stable operation of equipment and downstream procurement following up as needed. The market trading atmosphere was relatively weak, and glass inventory was generally depleted. Market prices were stable and waiting to be seen.
Market outlook
The domestic soda ash plant has resumed operation, the capacity utilization rate has improved, and the downstream glass market was stable. However, the demand for soda ash was limited, and there was a lack of favorable market conditions. It is expected that the short-term soda ash market will operate weakly and steadily, depending on the downstream market demand.
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