4.1 Daily Review of Soda Ash: The soda ash market is weak in some areas and the market is mainly adjusted slightly

Soda ash market analysis
Today, the domestic soda ash market in South China, North China and other regions has a slight decline, ranging from 50-100 yuan/ton; the soda ash market has not changed much, Hubei Shuanghuan's production is in a load-reduced operation, and other companies are temporarily in a relatively stable state; the soda ash market has fallen narrowly, the downstream market purchasing sentiment is relatively cautious, and companies mainly purchase based on rigid demand. The overall downstream market performance is acceptable. Due to the weakening price trend, the market transaction atmosphere is light, and companies are mostly waiting and watching. In the short term, the market has no favorable support, and the soda ash price may continue to run in a narrow range.

Futures dynamics
According to Boduoduo data: On April 1, the opening price of the main soda ash contract SA2505 was 1,375 yuan/ton, and finally closed at 1,388 yuan/ton, with a daily increase of 0.14%. The highest price was 1,402 yuan/ton and the lowest price was 1,371 yuan/ton. The total position was 1,092,807 lots, a month-on-month decrease of 62,171 lots.

Today, the price of soda ash futures rebounded slightly with downstream varieties, but its own driving force is still insufficient and the overall strength is weak. After the current soda ash supply disturbance has come to an end, the upstream inventory pressure has increased again. Although the downstream demand scale still has a certain volume and repair expectations, the actual demand increase before the delivery of the main contract is difficult to form a strong concentrated improvement drive for the short-term market. In the short term, the fundamental weakness of the soda ash market is difficult to change, and it is necessary to guard against the risk of soft pressure before the delivery of the main contract. However, the ups and downs of downstream varieties may cause repeated sentiment on soda ash.

Market forecast
Subsequent soda ash maintenance devices will be restored one after another, and the supply of soda ash will hover at a high level; approaching the Qingming Festival, the downstream wait-and-see sentiment is strong; it is expected that the soda ash market will be narrowly consolidated in the short term, and it is still necessary to pay attention to the dynamics of subsequent devices and changes in the downstream procurement rhythm.