纯碱、玻璃日报-20250717

Group 1: Report Summary - The report is a daily report on soda ash and glass dated July 17, 2024, focusing on market trends, fundamentals, and providing operation suggestions [1][2] Group 2: Industry Investment Rating - Not provided in the report Group 3: Core Viewpoints - The long - term fundamentals of soda ash and glass are bearish. For soda ash, the supply - demand contradiction persists, and the overall oversupply pattern suppresses prices. For glass, the long - term fundamental driving force is weak [8][10] Group 4: Soda Ash and Glass Market Review and Operation Suggestions Soda Ash - On July 16, the main soda ash futures SA509 oscillated downward, closing at 1208 yuan/ton, down 18 yuan/ton or 1.46%, with a daily increase of 13,982 lots [7] - In terms of fundamentals, supply is stable, demand is slightly down, and inventory accumulation persists. As of July 10, the weekly production was 709,000 tons, the capacity utilization rate was 81.32%, the enterprise shipment volume decreased by 1.69% month - on - month, and the total inventory of manufacturers increased by 2.98% month - on - month [8] - In the long run, due to the increase in production and the reduction in demand from the photovoltaic glass industry, the supply - demand contradiction persists, and the market is bearish [8] Glass - Recently, affected by the planned production cuts of photovoltaic glass enterprises, the daily melting volume of photovoltaic glass has decreased, and the supply of float glass has also declined, increasing inventory pressure [9] - The mid - stream inventory in the industry is at a high level, and the slow process of glass capacity reduction may lead to further inventory accumulation. The domestic real estate completion has not improved substantially [9] - The glass futures may oscillate in the short term and have weak long - term fundamental driving forces [10] Group 5: Data Overview - The report presents data on soda ash and glass futures trading on July 16, including opening prices, high prices, low prices, closing prices, price changes, price change rates, positions, and position changes [7] - It also includes charts of soda ash and glass active contract price trends, soda ash weekly production, soda ash enterprise inventory, central China heavy soda market prices, and flat glass production [12][13][17]