janelynchgameshow| Urea futures prices rose slightly by 1.11%, and companies spontaneously proposed to stabilize supply prices; soda ash futures rose 0.9%, and industry operating rates fell; glass futures rose 1.1%, and spot prices fell slightly
News summary
Urea futures prices are strongly volatilejanelynchgameshow, the spot market strengthened slightly. Companies have launched price stabilization initiatives, but the market has adjustment expectations. Soda ash futures fluctuated widely, disrupted the supply side, and drove upward in the medium term. Glass futures were strong, spot prices fell, and attention was paid to the recovery of terminal demand.
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[Urea futures prices remain strong and volatile]
The urea futures market continued the strong and volatile trend of the previous trading day on Tuesday, but its performance weakened. The market closing price of the main 09 contract was 2186 yuan/ton, up 1.1% from the previous trading day.janelynchgameshow.11%。At the same time, the spot market also strengthened slightly. Market prices in mainstream regions increased by 10 to 40 yuan/ton, and market prices in Linyi, Shandong Province rose to 2380 yuan/ton. In addition, many urea production companies have proposed initiatives to ensure the stability of domestic nitrogen fertilizer supply and prices, temporarily not accepting export orders, and ensuring that ex-factory prices do not exceed the level on May 21, affecting market sentiment. Although urea supply is about to increase, agricultural demand has entered a slack period, and market prices are facing adjustment expectations, the spot market is still supported by pending orders and remains firm. Investors can consider short selling strategies on rallies and pay attention to the impact of improving macro sentiment and changes in international markets.
[Soda ash futures prices rose slightly]
The soda ash futures market showed a wide range of fluctuations on Tuesday, and its gains slowed down. At the close, the closing price of the main 09 contract was 2363 yuan/ton, a slight increase of 0.9%. Soda ash futures prices remained strong during night trading, with the main contract rising by more than 3%. The spot market was generally stable, with quotations in a few regions slightly increased. From a fundamental point of view, due to the maintenance of new lines and the unstable equipment of some manufacturers, a large soda plant in Shandong has led to a significant decline in the operating rate and output of the industry. The daily operating rate of the industry dropped to 81.38% the previous day. The growth on the demand side is general. After the continuous increase in soda ash prices, the speculative atmosphere in the middle and lower reaches has weakened, and the market is dominated by just demand. Looking to the future, short-term disruption to the soda ash supply is expected to increase. High temperature weather in summer may lead to seasonal maintenance of soda plants, and supply may decrease. In the medium term, the futures price of soda ash may increase, but it is necessary to pay attention to the resistance in the middle and lower reaches, competition for imported soda ash and the overall trend of the domestic market.
[Glass futures prices rose slightly]
Glass futures prices showed wide fluctuations on Wednesday, with the main contract closing at 1657 yuan/ton, a slight increase of 1.1%. The domestic spot price of float glass dropped slightly to 1679 yuan/ton, and the performance of various regions showed divergence. Sales in the Shahe region increased to 160%, while sales in other regions remained around 90%. Recently, there have been differences in the trends of glass futures and spot markets. Spot prices have remained cautious, while futures prices have remained strong due to frequent policies and the price of raw material soda ash. Taking into account the growth of terminal demand, glass futures prices are expected to continue this trend in the short term. However, before terminal demand improves significantly, there may be limited room for growth in glass futures prices. Investors should continue to pay attention to spot transactions and the recovery of terminal real estate demand.
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