October 23rd, according to news,
I. Price Trends
According to Spotcom data, as of October 23, the average market price of light soda ash in China was 1,025 CNY/ton, a decrease of 25 CNY/ton compared to the price of 1,050 CNY/ton on October 19, representing a 2.38% price decrease. The soda ash market trend in China weakened and declined within the week.
2. Market Analysis
Recent soda ash market has been operating weakly. On the supply side, some soda ash plants in China are still under maintenance, with an operating rate of around 65%. Although enterprise inventories have decreased, the high inventory pressure of heavy soda ash in society remains. At the beginning of the week, prices continued to fall, and market transactions were hindered, leading to some traders lowering their quotes. In terms of demand, the downstream glass industry is incurring losses, resulting in weak demand for heavy soda ash. The market sentiment for soda ash is pessimistic, and soda ash prices are operating weakly.
According to SpotCom data, the recent glass market has been operating in a weak and stable manner, with the average market price from October 19 to 23 maintaining at 11.95 yuan per square meter. Some production lines in the Chinese glass market have plans for cold repairs, but the overall reduction in capacity is limited, and the supply expectation remains high. On the downstream side, there is follow-up of rigid demand, but the destocking process in the glass market is slow. Under the pressure of high inventory, the support for soda ash demand in the Chinese glass market is insufficient.
Looking ahead, China’s downstream soda ash sector currently faces significant inventory pressure, and weak demand is unlikely to improve in the near term. On the supply side, scheduled maintenance at key plants provides some support. With supply and demand locked in a tug-of-war and limited positive catalysts, market sentiment remains cautious, with participants largely adopting a wait-and-see approach. We expect the soda ash market to stabilize in the coming period, with close attention to actual sales dynamics.
