12.2纯碱日评：纯碱市场稳价观望为主

Core Insights - The domestic soda ash market is stable overall, with slight adjustments in some regions [2] - Supply is expected to fluctuate slightly due to maintenance plans at several production facilities [2] - Downstream demand remains cautious, with new orders performing generally below expectations [2] Price Analysis - In North China, the mainstream price for light soda ash is maintained at 1220-1320 CNY/ton, while heavy soda ash is priced at 1190-1320 CNY/ton [2] - In East China, light soda ash prices range from 1200-1620 CNY/ton, and heavy soda ash is at 1260-1320 CNY/ton [2] - The price index for light soda ash on November 2 was 11195.71, a decrease of 2.86, or -0.24%, while the heavy soda ash index remained stable at 1211.43 [3] Futures Market - On December 2, the main contract for soda ash (SA2601) opened at 1177 CNY/ton and closed at 1183 CNY/ton, with an intraday increase of 1.28% [5] - The market is experiencing low-level consolidation, with insufficient driving forces for price movement [5] - Despite inventory reduction providing slight support, general downstream demand is weak, leading to a heavy market sentiment [5] Market Outlook - There are expectations of contraction in both supply and downstream demand for soda ash, with manufacturers maintaining stable pricing strategies [6] - The market is likely to continue its stable trend in the short term, with ongoing attention needed on production dynamics and downstream purchasing rhythms [6]