6.20纯碱日评：纯碱市场供应宽松 价格承压

Market Overview - The domestic soda ash market remains stable overall, with slight declines in some regions. As of now, the price of light soda ash in North China is between 1270-1380 CNY/ton, and heavy soda ash is between 1280-1390 CNY/ton. In Southwest China, light soda ash is priced at 1230-1360 CNY/ton, while heavy soda ash is between 1330-1510 CNY/ton [2]. Supply and Demand - On the supply side, the Zhongyan Kunshan soda ash facility is undergoing scheduled maintenance, while the Lianyungang Debang facility is gradually increasing its operational load. Demand remains weak, with downstream companies adopting a conservative purchasing strategy, typically replenishing stocks only when prices dip [2]. - The overall trading atmosphere in the market is relatively quiet, with a strong sense of caution among industry participants regarding future market conditions [2]. Price Index Analysis - As of June 20, the light soda ash price index is 1234.29, down 2.86 from the previous working day, a decrease of 0.23%. The heavy soda ash price index is 1271.43, down 1.43, a decrease of 0.11% [3]. Futures Market Dynamics - On June 20, the main contract for soda ash (SA2509) opened at 1174 CNY/ton and closed at 1173 CNY/ton, with an intraday decline of 0.26%. The highest price during the day was 1193 CNY/ton, and the lowest was 1164 CNY/ton, with total open interest at 1,468,176 contracts, a decrease of 27,284 contracts [5]. - The soda ash futures market exhibited a volatile trend, initially rising before retreating due to supply-demand fundamentals. The industry faces oversupply and accumulating inventory, with weak downstream demand and limited order volumes [5]. Future Market Predictions - Currently, the number of maintenance enterprises is low, leading to a relaxed supply situation in the soda ash market. Downstream purchasing intentions are weak, and there is a lack of significant driving factors for the market. It is expected that short-term soda ash prices will maintain a narrow fluctuation trend, with attention needed on operational conditions of enterprises and changes in downstream replenishment rhythms [6].