5.9纯碱日评：纯碱市场整体企稳，个别区域小幅回落

Group 1 - The overall domestic soda ash market remains stable, with slight declines in some regions. Prices for light soda ash in East China are between 1340-1530 CNY/ton, while heavy soda ash prices range from 1420-1500 CNY/ton [2] - Supply side shows an increasing number of manufacturers undergoing maintenance and production cuts, leading to a decrease in industry operating rates, with expectations of further supply contraction in the future [2][5] - Demand is weak as downstream companies are not performing well, leading to low purchasing enthusiasm. Most companies prioritize digesting existing inventory, resulting in market transactions primarily consisting of small orders and low-price deals [2][5] Group 2 - On May 9, the main contract for soda ash (SA2509) opened at 1318 CNY/ton and closed at 1305 CNY/ton, with an intraday decline of 0.38%. The highest price during the day was 1329 CNY/ton, and the lowest was 1300 CNY/ton, with total open interest at 1,221,435 contracts, an increase of 17,878 contracts [3] - The decline in soda ash futures prices is primarily driven by overall market sentiment and significant drops in downstream products. The fundamental situation for soda ash has not shown notable improvement, and while some supply-side maintenance has begun, it is insufficient to reverse the oversupply situation [3][5] Group 3 - The supply contraction trend is becoming more evident, and although demand is generally weak, some essential purchases are starting to emerge as inventory is gradually digested, providing some support to the market [5] - It is expected that short-term market prices will remain stable, with the possibility of slight increases in regions with relatively tight supply-demand structures. Future attention should be paid to the execution of new maintenance plans and changes in actual downstream purchasing rhythms [5]