瑞达期货纯碱玻璃产业日报-20250604

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Report's Core View - The supply pressure of soda ash remains high, and the demand may decline, leading to a slowdown in the de - stocking speed. The futures market has already reflected this. It is recommended to short the soda ash main contract after a rebound. - For glass, the supply may decrease in the future, and the demand is weak. After a short - term rebound, it is advisable to short the glass main contract. [2] 3. Summary by Relevant Catalogs Futures Market - Soda ash main contract closing price: 1225 yuan/ton, up 40 yuan; glass main contract closing price: 988 yuan/ton, up 34 yuan. - Soda ash and glass price difference: 237 yuan/ton, up 6 yuan. - Soda ash main contract position: 1377454 lots, down 61412 lots; glass main contract position: 1444272 lots, down 117140 lots. - Soda ash top 20 net position: - 196915 lots, up 47021 lots; glass top 20 net position: - 206160 lots, up 5691 lots. - Soda ash exchange warehouse receipts: 2062 tons, unchanged; glass exchange warehouse receipts: 0 tons, unchanged. - Soda ash September - January contract spread: 10 yuan/ton, up 3 yuan; glass September - January contract spread: - 60 yuan/ton, up 1 yuan. - Soda ash basis: 50 yuan/ton, up 14 yuan; glass basis: 114 yuan/ton, up 24 yuan. [2] Spot Market - North China heavy soda ash: 1235 yuan/ton, unchanged; Central China heavy soda ash: 1350 yuan/ton, down 50 yuan. - East China light soda ash: 1340 yuan/ton, down 25 yuan; Central China light soda ash: 1285 yuan/ton, down 40 yuan. - Shahe glass sheets: 1068 yuan/ton, down 4 yuan; Central China glass sheets: 1070 yuan/ton, down 30 yuan. [2] Industry Situation - Soda ash plant operating rate: 78.57%, down 0.06 percentage points; float glass enterprise operating rate: 75.68%, up 0.34 percentage points. - Glass in - production capacity: 15.63 million tons/year, unchanged; glass in - production line number: 225, up 2. - Soda ash enterprise inventory: 162.43 tons, up 2.2 tons; glass enterprise inventory: 6766.2 ten - thousand weight boxes, down 10.7 ten - thousand weight boxes. [2] Downstream Situation - Real estate new construction area cumulative value: 17835.84 ten - thousand square meters, up 4839.38 ten - thousand square meters; real estate completion area cumulative value: 15647.85 ten - thousand square meters, up 2587.58 ten - thousand square meters. [2] Industry News - Wang Yi met with new US Ambassador to China Nicholas Burns. - The Caixin China Manufacturing PMI in May was 48.3, down 2.1 percentage points from April, falling below the critical point for the first time since last October. - Premier Li Qiang signed a State Council order to promulgate the Regulations on the Sharing of Government Affairs Data, which will come into force on August 1, 2025. - The All - China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce called on enterprises to resist "involution - style" competition mainly in the form of "price war". [2]