On February 9, the total inventory of domestic soda ash manufacturers reached 1.5784 million tons, an increase of 18,000 tons compared to the previous Monday, representing a rise of 1.15%. Specifically, light soda ash inventory stood at 832,400 tons, while heavy soda ash inventory was 746,000 tons.
PriceSeek's analysis of soda ash assigns a bearish score of -1. The total inventory of soda ash manufacturers increased to 1.5784 million tons, up by 18,000 tons month-on-month (a 1.15% increase), with both light and heavy soda ash inventories rising. This indicates increased pressure on the supply side and relatively insufficient demand, exerting downward pressure on spot prices and potentially leading to a decline in spot prices.
Combined with futures market data, major soda ash contracts, such as 2606 (closing price 1,210 yuan/ton, down 7.00) and 2609 (closing price 1,243 yuan/ton, down 14.00), generally showed a downward trend. Changes in open interest reflect bearish market sentiment. The news of inventory growth reinforces expectations of oversupply, which may further depress futures prices. Therefore, a general bearish score of -1 is assigned.
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