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Decreasing Output in the Glass Industry Caused Soda Ash Prices to Plunge

Decreasing Output in the Glass Industry Caused Soda Ash Prices to Plunge

Decreasing Output in the Glass Industry Caused Soda Ash Prices to Plunge

  • 30-Nov-2022 4:35 PM
  • Journalist: Bob Duffler

The deteriorating international and domestic prices from the Glass manufacturing industry caused a significant dip in the monthly prices of Soda Ash in November 2022. The rising global recession diminished buying interest amongst buyers and led to low costs of Soda Ash amidst sufficient availability of stocks.

The European Soda Ash market experienced a bearish sentiment from the Glass production industry in November 2022. The soaring energy prices amid the upcoming winter season caused a reduction in the downstream Glass industry operation, and weak demand from the construction sector affected the commodity's price. The persisting recession in Europe led to a southward price trajectory of Soda Ash. The ongoing surge in inflationary pressure on production costs amidst rising natural gas and electricity costs muted new offers for Soda Ash in the region. Thus, the price of Soda Ash Dense was assessed at USD 500/tonne FOB Stassfurt (Germany), with a monthly dip of 1.8% in November 2022.

Chinese Soda Ash continued a plunging price trajectory in the termination of November 2022 due to the sluggish demand from the downstream glass industry. Traders revealed that the cut in Glass production amidst rising energy prices and bearish buying sentiments amongst the buyers in the local market contributed to the ease in the commodity prices. As per the latest insight, Chinese Glass manufacturers are expanding production in the market, impacting the pricing dynamics of Soda Ash in the late-November 2022.

As per the ChemAnalyst prediction, Chinese Soda Ash prices are anticipated to increase due to an elevation in demand with a rise in the production activity in the downstream Glass manufacturing industry and limited stock availability with the Soda Ash sellers in December 2022. Besides, weak cost support from the downstream Glass manufacturing industry is expected to affect the price of commodity at the end of the year 2022 in Europe.

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