[Review] Soda soda fell by 3.23% in a day. The agency said that the supply of soda soda soda market is weak and the short-term shock operation is expected to be obvious.

Market performance

Intraday news

　　The upstream and downstream of soda ash are deadlocked, and the market changes little.

　　As of November 14th, the average ex-factory price of domestic light caustic soda was 1510 yuan/ton, down 1.1% from last week and 31.6% year-on-year. The average price of the mainstream terminal of heavy alkali was 1,575 yuan/ton, which was the same as last week and decreased by 33.7% year-on-year. Recently, some soda plants have been reduced in concentration, and the overall start-up load of the industry has further decreased. Downstream users have replenished appropriately, and the inventory of soda enterprises has declined. The futures market fluctuates and the market is in a strong wait-and-see mood. Soda manufacturers mostly execute the previous orders. Some ammonia and soda producers run at a loss, while soda producers are interested in stabilizing prices. However, the downstream demand is general, and the consumption of soda ash in float glass and photovoltaic glass is reduced. Most downstream users just need to purchase mainly and replenish moderately. The upstream and downstream stalemate game, it is expected that the domestic soda ash market may not change greatly in the short term. (（）)

Variety fundamentals

　　On November 14th, the inventory of soda enterprises recorded 1,648,100 tons, an increase of 0.43 million tons compared with the previous trading day.

Institutional point of view

　　Zhengxin Futures: The supply of soda ash market is strong and weak, and the short-term shock operation is expected to be obvious.

　　Strategy: At present, the supply of soda ash fundamentals continues to be strong and needs to be weak. Although there is the influence of device disturbance, the supply continues to be high, and the downstream demand is relatively stable. The inventory of upstream cash orders is transferred to the middle reaches instead of the downstream replenishment. Short-term device disturbance expectations are difficult to form a sustained drive and oscillating operation, and pay attention to the subsequent domestic macro-policy news.

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