5.26纯碱日评：纯碱市场窄幅震荡 供应缓增

Core Viewpoint - The domestic soda ash market remains stable overall, with slight fluctuations in certain regions, as supply increases slightly while demand remains cautious [2][6]. Price Analysis - As of May 26, the price range for light soda ash in East China is 1320-1590 CNY/ton, and for heavy soda ash, it is 1400-1500 CNY/ton. In North China, light soda ash is priced at 1400-1470 CNY/ton, and heavy soda ash at 1430-1520 CNY/ton [2][5]. Index Analysis - On May 26, the light soda ash price index was 1322.86, down 2.86 from the previous working day, a decrease of -0.22%. The heavy soda ash price index was 1365.71, also down 2.86, a decrease of -0.21% [3]. Futures Dynamics - On May 26, the main contract for soda ash (SA2509) opened at 1251 CNY/ton and closed at 1254 CNY/ton, with an intraday decline of 1.34%. The highest price during the day was 1271 CNY/ton, and the lowest was 1251 CNY/ton, with total open interest at 1,502,342 contracts, a decrease of 26,138 contracts [5]. Market Outlook - The soda ash market is experiencing weak supply and demand, with cautious trading. Supply has slightly increased due to the resumption of some production facilities, but downstream purchasing remains primarily based on immediate needs. The market sentiment is currently one of observation, with expectations of continued narrow fluctuations in the short term [6].