纯碱、玻璃日报-20250611

Report Information - Report Title: Soda Ash and Glass Daily Report [1] - Report Date: June 11, 2024 [2] Industry Investment Rating - Not provided in the given content Core Viewpoints - The soda ash market is in an overall surplus pattern, with supply rising, demand falling, and inventory accumulating. This surplus situation suppresses prices, and the market is expected to be dominated by low-level fluctuations in the future due to weak demand and downstream factors [8]. - The glass market is affected by seasonal factors, high mid - stream inventory, slow capacity reduction, and the downturn in the real estate industry. The glass futures main contract is expected to maintain a low - level oscillating trend in the short term [9][10]. Summary by Directory I. Soda Ash and Glass Market Review and Operation Suggestions Soda Ash - On June 10, the main soda ash futures contract SA509 opened low, rose, and then fell slightly. The closing price was 1,208 yuan/ton, down 5 yuan/ton or 0.41%, with a daily reduction of 64,798 lots [7]. - In terms of fundamentals, the weekly production of soda ash in China for the week of June 5 rebounded to 704,100 tons, a 2.78% increase from the previous week, and the capacity utilization rate decreased to 80.76%, a 2.19% increase from the previous week. The shipment volume of soda ash enterprises as of June 5 was 701,400 tons, a 4.90% decrease from the previous week, and the enterprise inventory remained at 1.627 million tons, continuing to accumulate slightly. The supply - demand contradiction is prominent, and the market is expected to be dominated by low - level oscillations [8]. Glass - The glass demand is significantly affected by seasonal factors. During the traditional rainy season, construction activities are restricted, and the terminal demand for glass continues to weaken. The high mid - stream inventory and slow capacity reduction lead to further inventory accumulation pressure. The domestic real estate completion link has not improved substantially, and the industry's downward trend continues. The main glass futures contract is expected to maintain a low - level oscillating trend in the short term [9][10]. II. Data Overview - The report presents multiple figures showing the price trends of soda ash and glass active contracts, soda ash weekly production, soda ash enterprise inventory, the market price of heavy soda ash in Central China, and flat glass production, with data sources including Wind and Zhuochuang Information [12][13][17]