Narrow Increase in China's Soda Ash Market in March

March 31st, News

I. Price Trends

According to the commodity analysis system, the price of soda ash in March increased. At the beginning of the month, the average market price of light soda ash was 1,188 CNY per ton, and by the end of the month, the average market price was around 1,212 CNY per ton. The price within the month increased by 24 CNY per ton, a price increase of 2.02%.

II. Market Analysis

According to the commodity analysis system, the soda ash market in March showed a slight increase. The facility utilization rate of soda ash in China remained above 80%, with some enterprises undergoing maintenance during the month, leading to a small increase in soda ash quotations. However, the supply in the market was high, and the supply pressure still existed. In terms of demand, the glass industry production lines were under cold repair, resulting in low demand for soda ash. Enterprises mainly consumed their inventories, and the purchasing enthusiasm was average. The market had more supply than demand, which suppressed the upward trend of soda ash, and the fluctuations in the soda ash market within the month were relatively low.

As of March 31, 2026, the mainstream market price for light soda ash in East China is around 1,150-1,560 CNY/ton, an increase of 30 CNY/ton month-over-month; in Central China, the mainstream price for light soda ash is around 1,100-1,200 CNY/ton, remaining stable compared to last month; in North China, the mainstream price for light soda ash is around 1,220-1,270 CNY/ton, an increase of 20 CNY/ton month-over-month.

On the demand side: According to the commodity analysis system, glass prices this month first rose and then fell. The average market price of glass increased from 13.38 yuan per square meter to 13.50 yuan per square meter, representing an overall price increase of 0.90%. During the month, the operating rate in the glass industry remained low, with several production lines still undergoing cold repairs. Enterprises primarily maintained their pricing, while downstream demand provided limited support. As rigid demand gradually stepped in later on, market trading activity weakened, leading to a slight decline in glass prices.

Market Forecast: Currently, spot prices for soda ash remain generally stable. In the later stage, as some plants increase their production loads, the operating rate will rise somewhat, putting greater pressure on market inventories. Meanwhile, the downstream glass industry still has plans for cold repairs of production lines, which will continue to lower the operating rate and reduce demand for soda ash. Overall, the fundamentals of soda ash remain characterized by strong supply and weak demand. We expect the soda ash market to consolidate at a relatively weak level in the short term, with the specific trend depending on how the downstream sector responds.