玻璃日度报告-20250612

Report Summary 1. Industry Investment Rating No information provided. 2. Core View The glass futures price is expected to continue a weak and volatile trend due to high inventory levels, weak demand, and the arrival of the rainy season [8]. 3. Summary by Relevant Catalogs Influence Factor Analysis - Supply - side pressure persists: The daily melting volume of national float glass remains stable at 156,800 tons, with both cold - repair and复产 production lines coexisting, and supply pressure has not significantly eased. The rumored transformation of coal - fired production lines in Shahe to "coal - made gas" may reduce regional costs if implemented, but currently, it only affects sentiment and actual supply has not changed significantly [5]. - Demand is weak: The rainy season affects factory inventory shipments and transactions, and deep - processing enterprises are cautious in purchasing. Although there are expectations of real - estate policy support, the transmission to terminal demand has not been evident [6]. - High inventory: The total inventory of national float glass sample enterprises increased by 3.09% month - on - month, rising by 2.09 million weight boxes to 69.754 million weight boxes, and high inventory continues to suppress prices [7]. Market Outlook Given the relatively high glass inventory, weak demand, and the arrival of the rainy - season off - peak, the glass futures price is expected to continue a weak and volatile trend [8].