Soda ash prices have softened a bit in US$ terms (search Google News, there's a bit on Tata Chemicals), but in AUD terms they've probably risen a bit.
Doesn't matter - they still don't export much (though it's much more feasible now, shipping rates (i.e. baltic dry index) have plummeted) and most of their sales are in long term contracts.
They do have relatively high debt levels and in these times cash is king - that worries me a bit.
But I'd say most of the recent SP weakness is because of low liquidity.
PSH Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
