SunSirs: After the Holiday, the Price of Soda Ash Was Consolidating and Declining
September 19 2024 15:05:28 SunSirs (John)
Price trend
According to the commodity analysis system of SunSirs, the price of soda ash has decreased after the holiday. As of September 18th, the average market price of soda ash was 1,706 RMB/ton, a decrease of 30 RMB/ton compared to the pre holiday price of 1,736 RMB/ton on September 14th, a decrease of 1.73%, and a decrease of 6.26% compared to the previous month.
Analysis review
According to the commodity analysis system of SunSirs, the soda ash market has been consolidating and declining after the holiday. On the supply side, the equipment of maintenance enterprises was gradually recovering, the utilization rate of soda ash production capacity has been improved, the market supply of goods has increased, and the inventory pressure of manufacturers was relatively high; On the demand side, there was an expectation of cold repair in the terminal market. The downstream glass industry mainly consumed inventory, resulting in insufficient demand for soda ash. The market supply was strong and demand was weak, leading to a weak downward trend in soda ash prices. On September 18th, the price of soda ash in East China was lowered, and the mainstream market price for light soda ash was around 1,400-1,650 RMB/ton; The price of soda ash in Central China was lowered, and the mainstream market price for light soda ash was around 1,350-1,550 RMB/ton.
On the demand side: According to the commodity analysis system of SunSirs, the price of glass continued to decline. On September 18th, the market average price was 14.10 RMB/square meter, a decrease of 0.70% compared to the market average price of 14.20 RMB/square meter on September 14th. The glass market had sufficient inventory, low downstream purchasing enthusiasm, poor market trading, obvious bearish sentiment in the market, and glass prices continued to operate weakly.
Market outlook
As of September 18th, the operating rate of domestic soda ash plants was relatively high, and the inventory of spot soda ash plants was sufficient. The downstream glass industry continued to be weak, with insufficient demand support. The soda ash market trading was average, and the atmosphere in the market was wait-and-see. It is expected that soda ash will remain weak and stable in the short term, depending on downstream market demand.
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