国泰君安期货：纯碱：现货市场变化不大

Report Industry Investment Rating - No information provided on the report industry investment rating. Report's Core View - The domestic soda ash market continues to be weak with flexible price transactions. The soda ash plant shows no significant fluctuations, and only the output of individual enterprises fluctuates slightly. Henan Junhua plans to conduct maintenance tomorrow. Downstream enterprises' demand is average, continuing with just - in - time restocking and being cautious. The short - term market is expected to lack substantial support and prices will be weakly adjusted [3]. Summary by Relevant Catalogs Fundamental Tracking - Futures: The SA2601 contract had a closing price of 1,278 yesterday, a daily decline of 0.62%, a trading volume of 1,103,470, and an open - interest change of 22,953 [3]. - Spreads: The 01 - contract basis was - 78 yesterday (compared to - 93 the day before), and the 01 - 05 contract spread was - 80 yesterday (the same as the day before) [3]. - Important Spot Prices: In North China, the spot price was 1,300 yuan/ton yesterday (the same as the day before); in East China and Central China, it was 1,200 yuan/ton yesterday (the same as the day before) [3]. Spot News - The domestic soda ash market maintains a weak trend with flexible price transactions. There are no obvious fluctuations in soda ash plants, only slight output fluctuations in individual enterprises. Henan Junhua plans maintenance tomorrow. Downstream demand is average, with just - in - time restocking and a cautious attitude. The short - term market is expected to lack support and prices will adjust weakly [3]. Trend Intensity - The trend intensity of soda ash is - 1, indicating a bearish view, with the value ranging from - 2 (most bearish) to 2 (most bullish) [3].