SunSirs: The Soda Ash Market Was Stable with Small Fluctuations (November 20-26)
November 27 2024 15:33:37 SunSirs (John)
Price trend
According to the commodity analysis system of SunSirs, as of November 26th, the average market price of soda ash was 1,556 RMB/ton. Compared with the soda ash price of 1,546 RMB/ton on November 20th, 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, there were equipment shutdowns and maintenance on site, resulting in a slight decrease in the utilization rate of soda ash production capacity. In some areas, prices have slightly increased, but downstream demand was average, and the market trading atmosphere was weak, which provided insufficient support for soda ash. The price increase has been suppressed, and the overall soda ash market was stable with small fluctuations.
As of November 26th, the reference price for the soda ash market in East China was around 1,450-1,600 RMB/ton for light soda ash, with an increase of 30 RMB/ton within the week; The reference price for the soda ash market in Central China was around 1,380-1,550 RMB/ton for light soda ash, with an increase of 10 RMB/ton within the week.
According to the commodity analysis system of SunSirs, the downstream glass market was weak and declining. From November 20th to 26th, glass prices fell from 16.65 RMB/square meter to 16.40 RMB/square meter, a decrease of 1.50%. Some production lines in the glass market have resumed production, with an increase in operating rates and an increase in on-site inventory supply. Downstream follow-up was average, with a focus on entering the market according to demand. Overall, manufacturers had limited shipments, and the on-site mentality was bearish, resulting in a continued decline in glass prices.
Market outlook
As of November 26th, there was little change in domestic soda ash production capacity, and the inventory of spot soda ash plants was still high. There was still pressure on enterprises to ship, and the downstream glass market continued to be weak, providing insufficient support for the soda ash market demand and limited market transactions. It is expected that soda ash will operate stably in the short term, and specific attention will be paid to downstream demand follow-up.
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