SunSirs: The Soda Ash Market Had Seen a Slight Increase in the Recent Times
November 21 2024 11:15:13 SunSirs (John)
Price trend
According to the commodity analysis system of SunSirs, as of November 19th, the average market price of soda ash was 1,546 RMB/ton. Compared with the soda ash price of 1,536 RMB/ton on November 11th, the price had increased by 10 RMB/ton, an increase of 0.65%.
Analysis review
Recently, the soda ash market has seen a slight increase. On the supply side, the utilization rate of soda ash production capacity has decreased, and the pressure on market supply has weakened. Manufacturers were actively shipping, and downstream companies were following up on demand. In some areas, shipments have improved, leading to an increase in soda ash consumption. On site trading was still acceptable, and the soda ash market was consolidating and rising.
As of November 19th, 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 1,370-1,550 RMB/ton for light soda ash.
According to the commodity analysis system of SunSirs, the downstream glass market has slightly declined. From November 11th to 19th, the price of glass decreased from 16.75 RMB/square meter to 16.65 RMB/square meter, an increase of 0.60%. Some production lines in the glass market resumed production, and the market operating rate increased. Downstream parties followed up as needed, and overall shipments from manufacturers had slightly weakened. The market was mainly bearish, and glass prices had been narrowly lowered.
Market outlook
As of November 19th, the utilization rate of domestic soda ash production capacity had decreased, the inventory of spot soda ash plants had decreased, and the pressure on enterprise shipments had eased to some extent. However, the downward trend in downstream glass prices had insufficient support for soda ash market demand, and market transactions may weaken. Under the supply-demand game, it is expected that soda ash will operate weakly and steadily in the short term, and specific attention should be paid to downstream demand follow-up.
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