Fundamentals continue to be weak, market prices are lowered overall (3.28 Floating Glass Weekly Review)

Fundamentals continue to be weak, market prices are lowered overall (3.28 Floating Glass Weekly Review)

1. Analysis of the float glass market

Float glass market prices continued to decline this week, with the adjustment range concentrated at 40-120 yuan/ton. The output of the supply side increased by 4,900 tons during the week. The operating rate of manufacturers was relatively stable. The capacity utilization rate of 86.72% this week remained relatively high at the supply side. The demand side has not yet effectively recovered. Downstream procurement is more cautious. Procurement is mainly needed according to its own orders. The overall demand performance remains weak; the situation of strong supply and weak demand continues, and corporate inventories continue to grow. Overall, the float glass market lacks its own driving force, and the practical logic is hard to say that it will improve in the short term.

In terms of futures, the overall weakness during the glass week continued to be dominated. Glass supply remained high and stable during the week. Demand was mainly due to inventory flows between the middle and upper reaches. Data on resumption of work after the end of the year was still weak year-on-year, and the actual demand turning point needs further verification. The continued downward trend in spot prices will form a smooth negative feedback on futures prices, and may continue to be weak in the short term waiting for terminal demand to be transmitted.

2. Comparison of float glass market prices

3. Float glass inventory

The total inventory of float glass manufacturers this week was 66.936 million heavy boxes, compared with 63.614 million heavy boxes last week, an increase of 3.322 million heavy boxes from last week, or 5.22%. Floating glass inventories continued to grow.

4. Weekly operating rate of float glass

The operating rate of float glass companies this week was unchanged from last week. The weekly operating rate of float glass was 85.2%, an increase of 0.00%.

5. Weekly float glass output

There were 304 float glass production lines this week, of which 259 were in production. The float glass output was 1.2352 million tons, an increase of 0.49 million tons or 0.40% from last week.