Tata Chemicals slashes soda ash prices by 3.5%

26 May 2023 , 11:05 AM

In a recent development, Tata Chemicals has slashed soda ash prices to the lowest levels in 15 months. It has reduced the light soda ash price to Rs 33,900 per MT from the previous Rs 35,100 per MT.

The price reduction is effective in Karnataka, Maharashtra, Andhra Pradesh, Bihar, Telangana, Jharkhand, and Chhattisgarh.

The company has also announced revisions in other soda grades of soda ash across the country.

Towards the end of 2022, soda ash prices peaked owing to high energy prices. While throughout the year, prices remained high, they are falling steadily.

Since the beginning of 2023, the price of the compound has dropped dramatically, with the company setting the price at Rs 36,000/MT in the middle of February 2023, before lowering it to Rs 35,100/MT by the middle of April 2023.

Domestic soda ash prices have been revised as a result of a drop in energy and fuel prices. As a result, the global availability of Soda Ash has increased. The price increase will not majorly impact the margins of Tata Chemicals' domestic segment and GHCL, stated the reports.

Soda ash is one of the most widely used inorganic materials on the planet, accounting for nearly half of the compound's global production.

At around 10.53 AM, Tata Chemicals was trading 1.06% higher at Rs 966.85, against the previous close of Rs 956.70 on NSE. The counter hit an intraday high of Rs 967.50.

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