首创期货：供需两弱，玻璃期价区间波动

Core Viewpoint - The current spot price of float glass is 1107 yuan/ton, reflecting a slight increase of 4 yuan/ton compared to the previous trading day, indicating a weak demand and supply situation in the market [1] Demand Summary - As the Spring Festival approaches, market demand is gradually weakening, with downstream purchasing intentions decreasing [1] - Deep processing enterprises continue to engage in essential purchases, with little intention to hold inventory [1] - Overall demand is expected to start slowly after the holiday, providing limited support to the market [1] Supply Summary - In January, three float glass production lines were taken offline, leading to a decrease in supply [1] - There are expectations for additional production lines to be taken offline after the holiday, which may continue the downward trend in daily melting capacity [1] - Production companies are accumulating inventory, with some regions experiencing high midstream inventory levels [1] Market Outlook - Given the weak supply and demand backdrop, short-term glass futures prices are expected to fluctuate within a low range [1] - Attention should be paid to cost and production line changes [1]