企业库存连续增加 玻璃期货盘面或继续承压下行

News Summary Core Viewpoint - The glass processing industry is experiencing a decline in orders and production, leading to increased inventory pressure and a weak demand outlook [1][2][3]. Group 1: Market Data - As of November 17, the average order days for glass processing sample enterprises is 9.9 days, a decrease of 8.9% month-on-month and 24.2% year-on-year [1]. - On November 18, the Zhengzhou Commodity Exchange reported 456 glass futures warehouse receipts, a decrease of 7 from the previous trading day [1]. - In November, four coal-fired production lines were shut down, while one previously operating line resumed production, resulting in a decline in weekly operating rates and supply [1]. Group 2: Institutional Perspectives - Guotou Anxin Futures indicates that the glass market continues to decline, with high inventory pressure in the midstream sector leading to a negative feedback loop and ongoing price drops [2]. - New Century Futures reports that recent spot prices are weak, with some manufacturers starting to lower prices. The ongoing decline in real estate completions is dragging down demand, and inventory levels are continuously increasing [3]. - According to New Century Futures, the daily melting capacity of glass needs to be reduced to approximately 154,000 tons by the end of the year to address the oversupply issue in the industry [3].