SunSirs: On February 26th, the Soda Ash Market Was Running Strongly

Price trend

According to the commodity analysis system of SunSirs, the price of light soda ash rose on February 26th, with a market average of 1,460 RMB/ton, an increase of 2.82% compared to the previous trading day's price of 1,420 RMB/ton, and a decrease of 2.28% compared to the beginning of the month.

On February 26th, the SunSirs’ light soda ash index was 74.87 points, an increase of 2.05 points from the previous day, a decrease of 60.41% from the cycle's highest point of 189.10 points (2021-11-07), and an increase of 18.56% from the lowest point of 63.15 points on November 18, 2015. (Note: The cycle refers to the period from September 1, 2011 to present)

Analysis review

On February 26th, the soda ash market saw a strong upward trend. On the demand side, the terminal market prices have decreased, and the purchasing demand was weak, which has limited support for soda ash; On the supply side, the operating rate of soda ash was relatively high, and the market supply of goods was stable. However, some devices on site have maintenance plans, and the expected supply of soda ash was reduced. Manufacturers had a strong intention to increase prices, and under the guidance of supplier information, soda ash companies have raised their quotations.

On the demand side: According to the commodity analysis system of SunSirs, glass prices were lowered on February 26th, with a market average price of 16.15 RMB/square meter, a decrease of 0.92% compared to the previous trading day's price of 16.30 RMB/square meter. The glass market equipment has not changed much, the production has remained stable, downstream replenishment demand was poor, the market trading atmosphere was weak, glass inventory has accumulated, and market prices were running weakly.

Market outlook

Although there were maintenance expectations for domestic soda ash, the utilization rate of on-site production capacity remained high, with limited positive support. At the same time, the downstream glass market was weak, and there was insufficient support for soda ash demand, resulting in a supply-demand game in the market. It is expected that the soda ash market will remain stagnant in the short term, depending on downstream market demand.

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