玻璃 需求偏弱

Core Viewpoint - Recent glass prices have shown signs of stabilization, but the sustainability of this rebound needs further observation [1] Supply Side - There are rumors regarding supply-side changes, such as the Shahe area planning to suspend four coal-fired production lines for technical upgrades, with a daily melting capacity of approximately 2,350 tons, all of which are small sheet production lines [1] - After the upgrades, three production lines with a capacity of about 3,650 tons per day will gradually resume operations, although the specific resumption time may vary due to regional policies [1] - Some companies in Hubei may also face potential shutdowns due to cash flow issues, indicating that short-term supply changes could trigger the next market trend [1] Demand Side - Current demand remains weak, with low new construction and completion data in the real estate sector further constraining actual glass consumption [1] - End-user procurement is characterized by a cautious wait-and-see attitude [1] - In the short term, if supply-side issues escalate, prices may stabilize; however, in the medium to long term, attention should be paid to actual capacity reductions and the impact of macro policy improvements [1] - Continuous contraction in supply could drive prices upward, but the ongoing weakness in demand remains a significant risk [1]