[Guide] From the second half of 2024, the production capacity of float glass and photovoltaic glass downstream of soda soda has continued to shrink, and the consumption of soda soda has been decreasing. The downstream alumina production capacity of caustic soda is expanding, and the amount of caustic soda increases. Due to the different performance of downstream demand, since the second half of the year, the price trend differentiation is obvious. In 2025, the growth rate of soda soda demand may not slow down further, while the growth space of caustic soda demand is large, and the price trend of the two alkali is differentiated or continued.