纯碱基本面偏弱

Core Viewpoint - The cost of soda ash fuel has been rising since September, leading to a slight price increase; however, most companies continue to operate at a loss [1] Supply Side - It is expected that the overall production of soda ash will remain high in October, with supply issues being a significant constraint on price stability [1] Demand Side - Short-term changes in downstream demand are minimal, with users actively stocking up before the holiday, resulting in increased raw material inventory [1] - As the National Day holiday approaches, downstream activities are likely to focus on inventory consumption, which may lead to accumulation of soda ash inventories among companies [1] Market Outlook - The fundamentals of the soda ash market appear weak, with high supply pressure and a lack of upward price drivers in the spot market; low downstream profits may lead to potential negative feedback effects in the future [1]