SunSirs: The Soda Ash Market Overall Was Weaker This Week
September 29 2024 14:55:08 SunSirs (John)
Price trend
According to the commodity analysis system of SunSirs, the price of light soda ash haD fallen this week. As of September 27th, the average market price of soda ash was 1,614 RMB/ton, a decrease of 46 RMB/ton compared to the beginning of the week price of 1,660 RMB/ton, a decrease of 2.77%, and a decrease of 10.83% compared to the beginning of the month.
Analysis review
According to the commodity analysis system of SunSirs, the overall soda ash market had been weaker this week. On the supply side, the equipment of maintenance enterprises had resumed operation, the utilization rate of soda ash production capacity had been improved, the market supply of goods had increased, the pressure on manufacturers' inventory was greater, and the focus of soda ash transactions continued to shift downwards; On the demand side, downstream demand first fell and then stabilized, with limited demand for soda ash. Before the holiday, downstream demand was replenished as needed, and some soda ash companies shipped some products. In some regions, soda ash prices were raised. On September 27th, the price of soda ash in East China increased slightly, with the mainstream market price for light soda ash ranging from 1,430 to 1,600 RMB/ton; The price of soda ash in central China had slightly increased, with the mainstream market price for light soda ash ranging from 1,350-1,550 RMB/ton.
On the demand side: According to the commodity analysis system of SunSirs, the glass price market first fell and then stabilized. As of September 27th, the market average price was 13.45 RMB/square meter, a decrease of 0.74% compared to the market average price of 13.55 RMB /square meter at the beginning of the week. The glass market had experienced a slight decline in production, but overall it was still weak, with limited inventory reduction and downstream purchases following up on demand, resulting in weak glass prices.
Market outlook
As of September 27th, the utilization rate of domestic soda ash production capacity was relatively high, and the inventory pressure of spot soda ash plants was high. The downstream glass industry was temporarily stable, and demand support was still limited. The soda ash market had insufficient trading, and the atmosphere in the market was cautious. It is expected that soda ash will be observed and consolidated in the short term, depending on downstream market demand.
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