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Soda ash rebounded significantly in the market, with new production capacity being less than market expectations.
Classification: Bolg
Release time: 2023-11-07
Summary: The new production capacity release is below expectations, and soda ash has rebounded significantly during the session.
The new production capacity release is below expectations,Soda ashsignificant rebound during the day】 Jinshi Futures reported on November 7: Guotai Junan Futures commented:Soda ashToday, there was a significant rebound during the day, with the main contract currently up 3.67%. The spot market transactions are average, with current low spot prices around 2000 yuan/ton. In the past month,Soda ashweekly supply exceeded 680,000 tons,heavy alkalimonthly output exceeded 1.9 million tons,heavy alkalithe just-in-demand is around 1.6 million tons, and there is still an increase of nearly 300,000 tons in imports, but in one monthheavy alkalimanufacturers' inventory accumulation is only 80,000 tons, which clearly indicates that market demand is exceeding expectations, and glass factories areSoda ashgradually replenishing inventory during the price decline. On the supply side, recent reductions in production due to environmental factors at Northwest facilities, and the new production capacity release again falling short of expectations, have all contributed to the current market situation.
Key words: Soda ash rebounded significantly in the market, with new production capacity being less than market expectations.
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