玻璃价格反弹空间有限

Core Viewpoint - The glass industry is experiencing a significant reduction in production capacity amid ongoing profit compression, leading to a generally loose supply-demand balance in the future [1] Industry Overview - As of the end of November, there are a total of 283 float glass production lines in the country, with 217 lines in operation and a daily melting capacity of 155,155 tons, which is a decrease of 5,400 tons from the previous month and a year-on-year decline of 2.71% [1] - The industry's capacity utilization rate stands at 80.13% [1] Market Dynamics - Throughout the year, glass prices have shown multiple instances of rapid rebounds due to the implementation of anti-involution policies and the cold repair of certain production lines; however, these supply-side changes often lead to short-term market shocks [1] - The overall market for glass prices has remained sluggish, with weak downstream orders contributing to a lack of sustained price increases [1] Inventory Situation - High inventory levels have been a key factor hindering the stabilization of glass futures prices, with current inventories at float glass factories significantly higher than the same period last year [1] Future Outlook - The overall supply-demand pattern for glass is expected to remain loose, and without policy measures to stimulate demand, the potential for price rebounds appears limited [1]