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Soda Ash Price Trends Last Week
According to data from the SunSirs spot market platform, the average market price of light soda ash stood at 1,060 RMB/ton as of July 31. This represents a decrease of 60 RMB/ton—or 5.36%—from the price of 1,120 RMB/ton recorded on July 24, reflecting a downward direction in the soda ash market over the week. Market conditions remained weak and trended reduce.
Market Analysis
Soda ash prices trended downward last week amidst a weak market. On the supply side, operating rates rose, rising inventory pressure; consequently, some companies continuously lowered their quotes to stimulate sales. Regarding demand, the downstream glass sector faced overcapacity, with procurement limited primarily to essential needs, resulting in overall sluggishness. Market sentiment was decidedly bearish, with producers anticipating further declines, leading to a significant drop in soda ash prices.
According to data from the SunSirs spot market platform, the glass market saw a decline last week; as of July 31, the average market price stood at 12.38 RMB/square meter, down 1.98% from the 12.63 RMB/square meter recorded on July 24. while some production lines underwent cold repairs—leading to a slight drop in operating rates—weak demand during the downstream off-season and persistently high total social inventories kept pressure on shipments, resulting in a downward direction in glass prices.
Market Outlook
Domestic soda ash supply is currently ample while downstream demand remains sluggish; the fundamental dysfunction of strong supply and weak demand is unlikely to enhance in the near term. With bearish sentiment prevailing in the market, soda ash prices are expected to remain weak; specific attention should be paid to market shipment volumes.
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