Soda ash: poor fundamentals, policy is not as expected to trigger a sharp decline in the disk
Gold Ten Futures Special CITIC Futures Comments: In the past two days, the soda ash disk has fallen sharply, mainly due to its own poor fundamentals, reduced production pressure, significant recovery in output but rigid demand is still declining. Yesterday's press conference released policies that were less favorable than expected. The price increase driven by sentiment was difficult to continue, and the disk price fell sharply. In summary, the supply of soda ash has increased and demand has decreased. Basically, there is still pressure on prices. After the high-cost production capacity is cleared, the centralized supply can better support the price of soda ash. The disk is greatly affected by sentiment, and the policy still has strong expectations. It is recommended to operate cautiously. Enterprises can hedge against high prices.