12月14日丨聚玻玻璃期现周评（第41期）：期货持续走跌，现货稳中盘整，行业维持去库。

Core Viewpoint - The glass futures prices have continued to decline, with the main contract price dropping by 67 yuan/ton this week, while the spot market prices have also seen a slight decrease of 9 yuan/ton [2]. Fundamental Analysis - Supply Side: This week, there was a slight fluctuation in the overall operating rate due to the ignition of production lines and changes in production. Overall transaction performance has weakened compared to previous periods, with inventory decreasing in many regions, although some areas still experienced inventory accumulation, resulting in a 2.05% decrease in industry inventory [2]. - Demand Side: The reduction in supply has boosted market sentiment, coupled with price adjustments from manufacturers, leading to a phase of replenishment by enterprises, with improved transaction performance in many regions [2]. Technical Analysis - The main glass contract has shown a continuous decline this week, with a highest price of 1015 and a lowest price of 934 [3]. - The volume-price relationship this week exhibited characteristics of "declining volume with rising prices, and rebounding with reduced volume," indicating a weakening of short-selling momentum and potential for a technical rebound in the short term [4]. - Technically, a "five consecutive down days" pattern has formed on the daily chart, with a long bearish candle on the weekly chart. The MACD green bars continue to expand, and the DIFF and DEA have crossed, indicating strong bearish momentum and a continuation of the downtrend [5]. Market Outlook - From a fundamental perspective, supply-demand contradictions still exist, with downstream demand unlikely to improve. Manufacturers are primarily focused on sales, and the glass spot market is expected to maintain a weak consolidation [5]. - Although related indicators suggest overselling, the weak fundamentals are difficult to change, limiting the rebound potential. A short-term technical correction may occur, but the mid-term outlook remains within the 900-1000 yuan range for bottoming out [6].