Price trend

According to the commodity analysis system of SunSirs, the average market price of light soda ash on September 21 was 1,188 RMB/ton, an increase of 4 RMB/ton compared with the price of 1,184 RMB/ton on September 15, an increase of 0.34%.

Analysis review

Last week, soda ash prices saw a narrow upward trend. On the demand side, downstream industries saw increased orders during the peak season, with a strong pre-holiday restocking sentiment and positive market entry, leading to improved shipments from soda ash companies. On the supply side, some soda ash plants underwent maintenance during the week, resulting in a month-on-month decrease in capacity utilization. This had put less pressure on companies to maintain inventory, shifting the market's transaction focus upward. However, total soda ash inventory depletion fell short of expectations, and overall prices remained high, limiting price increases.

On the demand side, according to the SunSirs commodity analysis system, glass prices saw a strong rise last week, with the average market price at 14.28 RMB/square meter as of September 21, a 2.00% increase from 14.00 RMB/square meter on September 15. Glass production lines were operating stably, downstream companies were actively replenishing stocks during the traditional peak season, and the market sentiment was positive, leading to a strong upward trend in glass prices.

Market outlook

As of September 21, the domestic soda ash spot market remained stable and wait-and-see, with industry players following the market. On the demand side, the glass market entered the traditional peak season, which provided good support for soda ash. However, the maintenance equipment will resume next week, and the market start-up expectations will increase. The mentality in the market is in a game of chess. It is expected that the soda ash market will be stable in the later period, and specific attention will be paid to the market shipment situation.

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