According to monitoring data from SunSirs, the trend of soda ash continued to decline in April. The average market price of light soda ash at the beginning of the month was 2,760 RMB/ton, while the average market price on April 18th was around 2,690 RMB/ton, with a price drop of 2.54%. The price of soda ash was in a weak trend.
Analysis review
From the data of SunSirs, it can be seen that the price of soda ash had decreased by 50-100 RMB/ton in various regions this month, maintaining a weaker trend.
From the supply side perspective, the operating rate of soda ash remained relatively stable. Data shows that the overall operating rate of soda ash was around 90%, and there were currently no new maintenance plans in the near future.
In terms of demand: According to the commodity monitoring system of SunSirs, glass prices rose this month, with an average market price of 19.73 RMB/ton/square meter at the beginning of the month and 21.87 RMB/ton/square meter on April 18th, with a price increase of 10.85%. The price of glass had slightly increased, but for light soda ash, it was still mainly purchased on demand, and the overall demand had not changed much.
Market outlook
According to the analysis system of SunSirs, the price of domestic soda ash was weak and the overall construction remained stable. The demand of downstream glass was average, and there was a strong wait-and-see sentiment. The supply and demand sides were still in a game. Overall, it is expected that the price of soda ash will be mainly subject to weak consolidation in the later stage, depending on downstream market demand.
