玻璃主力最高上探1249元/吨 创近一个月的新高

Core Viewpoint - The glass futures market is showing a strong performance, with the main contract reaching a recent high of 1249 CNY/ton, indicating a rise of approximately 3.52% [1]. Industry Summary - As of September 15, the average order days for deep processing glass sample enterprises increased by 0.1 days week-on-week to 10.5 days, reflecting a growth of 1% compared to the previous week and a year-on-year increase of 2.9% [2]. - On September 15, the number of glass futures warehouse receipts was 1605, a decrease of 459 from the previous trading day. Last week, glass factory inventory decreased by 1.467 million weight boxes, with the highest reduction in North China, followed by Central and East China, while South China saw a slight increase in inventory. Overall, the midstream inventory remains at a high level [3]. Institutional Perspectives - Hualian Futures noted that last week there were no new production lines ignited or cold repairs, leading to a slight increase in industry operating rates. The supply volume increased week-on-week, and market sales showed slight improvement, although overall demand remains weak, keeping factory inventories high. The short-term supply-demand situation shows no significant improvement, with attention needed on seasonal demand recovery and capacity policies. Short-term trading should focus on the pressure range of 1250-1270 CNY [4]. - Jianxin Futures highlighted that in early September 2025, the domestic photovoltaic glass market experienced a significant price increase driven by strong demand. Anticipated market conditions led downstream companies to prepare for increased demand in September, further amplified by seasonal stocking needs ahead of the holiday. While supply-side pressures have eased compared to last year, demand remains weak, particularly in new housing glass, although demand from automotive and home appliance sectors provides some support. The short-term outlook for glass futures contracts is expected to show a strong oscillating trend [4].