Global Demand Influx is Pushing Up Soda Ash Prices in Chinese Market
- 23-Feb-2022 2:18 PM
- Journalist: Nina Jiang
Soda Ash demand in the Asia Pacific region has remained highly resilient amidst the consistent pickup in the market activities in the first quarter. As per the sources, there have been series of turnarounds in China in lieu of the Spring Festival in the country. The turnarounds in China have resulted in a tight supply situation across the Asian market. Although the demand for Soda Ash from construction and photovoltaic sector has remained weak in China, prices of Soda Ash have showcased an upward trajectory in line with the global demand influx in the international market.
In line with the global demand trend, Soda Ash manufacturers in China have been heard increasing their operating rates weak over weak. However, with several major manufacturers undergoing maintenance in February, the overall supply has been below the desired level. Turnaround in Soda Ash plant of Zhonguan Chemicals and Jiangsu Shilian in February has adversely impacted the supply of Soda Ash in China as well as the international market.
Soda Ash prices in China surged by nearly 7% since last two weeks. Demand for Soda Ash in China is expected to firm gradually following the optimism prevailing from the announcement of China’s Five-Year Growth plan. As per ChemAnalyst. “As the market activities turn favourable by the end of Q1 across the globe, prices of Soda Ash are expected to continue following an upward trajectory. Likewise, the operating rates in Soda Ash plants are also expected to gradually increase till April.”