Price trend:
According to data from the SunSirs' commodity analysis system, the average market price of light soda ash on November 17 was 1,224 RMB/ton, a 0.82% increase compared to 1,214 RMB/ton on November 10, indicating an upward trend in soda ash prices.
Market Analysis
Recently, the soda ash market was trending upward. However, due to slow downstream consumption and generally weak market transactions, some companies had reduced their production capacity, resulting in a decrease in total soda ash inventory. Some companies were not under inventory pressure and raised their prices slightly. Meanwhile, the price of raw material coal had increased, raising the cost of soda ash. Factories were showing a strong willingness to raise prices, but demand had not yet improved. Overall, the market remained dominated by strong supply and weak demand, and soda ash prices were fluctuating within a narrow range..
On the demand side: According to the commodity analysis system of SunSirs, the glass market was weak and declining recently. As of November 17, the average market price was 13.83 RMB/square meter, a decrease of 1.78% compared with the price of 14.08 RMB/square meter on November 10. The operating rate of the glass market had decreased slightly, downstream demand was generally weak, the market purchasing atmosphere was sluggish, enterprises were experiencing poor sales, glass inventory was accumulating, and the market sentiment was weak, leading to a decline in glass prices.
Market outlook
As of November 17, domestic soda ash futures were fluctuating with a slightly upward bias, while spot costs were under significant pressure. Soda ash producers were clearly inclined to raise prices. Downstream glass prices were generally weak, limiting soda ash consumption. The supply-demand imbalance persisted in the market, and the soda ash market is expected to remain slightly stronger within a narrow range. Specific market shipments will be closely monitored.
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