交易所紧急出手无效，玻璃期货成交量为何仍居商品榜首？

Group 1 - Glass futures continued to decline, with the main contract dropping 3.84% to 1102 yuan/ton, fully reversing the gains from the previous week, primarily due to the end of the macro "anti-involution" trading phase and a decline in market sentiment [1] - The overall glass spot market is under pressure, with the price of 5.00mm large glass sheets in North China falling by 10 yuan to 1240 yuan/ton, indicating weak demand and cautious purchasing behavior from downstream buyers [1][2] - As of July 31, the total inventory of float glass in sample enterprises nationwide was 59.49 million heavy boxes, a decrease of 2.397 million heavy boxes or 3.87% from the previous period, marking a six-week consecutive decline, although the rate of decline has narrowed [2] Group 2 - The glass production and sales showed a high-to-low trend this week, with a decrease in procurement enthusiasm among industry players, despite the overall improvement in production line profitability for seven consecutive weeks [2] - The operating rate of the float glass industry reached 75%, with the capacity utilization rate increasing by 0.3 percentage points to 79.78%, the highest level this year [2] - The recent important meetings did not signal additional fiscal policy support, emphasizing the need to utilize existing policy packages, which may impact market sentiment and price movements [2] Group 3 - Institutions have differing views on the future price trends of glass, with some suggesting a trading range of 1080-1200 yuan for the FG2509 contract, while others maintain a cautious outlook due to the weak balance between supply and demand [4] - The overall market is at a critical juncture of policy expectation adjustment and fundamental dynamics, with short-term market sentiment cooling significantly [4]