【纯碱：低估值修复，向上驱动仍不强】金十期货2月17日讯，近期，检修和环保相关消息再次传出，但盘面增仓很可能并非基于此逻辑。在高库存和供需过剩的背景下，市场对这类消息的敏感度有所降低。盘面大幅增仓或许是期现商在节前大幅拿货，导致现货流动性被受限，2505合约上可交割的货源有限，因此需关注交割逻辑。当前重碱去库，轻碱累库。重碱去库是由下游补库以及期现商到货所引发，并非源于刚需去库；轻碱端需求恢复仍慢，需关注轻碱刚需好转以及重碱库存转移所带来的再次向上驱动。建议多单保持谨慎，价格在1500以上时暂时止盈离场。
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