Soda ash afternoon plunge! The reason is...

Gold ten futures on August 23rd news, after three consecutive days of oversold repair, yesterday afternoon soda ash futures suddenly plunged, the main contract gave up the previous few days of gains, the center of gravity fell again. Zhongtai futures analysis pointed out that recently, affected by the maintenance and failure of individual devices, soda ash operating rate remained low, but the soda plant continued to accumulate, exceeding market expectations. Float glass in the context of the real estate downturn, the market has certain expectations for its capacity to weaken. However, in the past two months, spot prices have fallen sharply, glass companies have lost money, accelerated the production line water cold repair, and also strengthened the expectation of weaker demand for soda ash in the future. In the medium and long term, even if the glass replenishment leads to the phased destorage of soda plants, the space for soda ash rebound is still limited. At present, the main contradiction of the industry is concentrated on the pattern of oversupply. In the future, high supply and high inventory will continue to pressure the price of soda ash.