Industry Investment Rating - Not provided in the content Core Viewpoints - The supply - demand pattern of soda ash shows strong supply and weak demand, with over - supply and inventory accumulation hard to ease in the short term, and the upstream coal price has peaked, so the soda ash futures price is expected to fluctuate weakly. For glass, the industry is in a weak supply - demand balance, the market is concerned about the anti - involution policy, and the glass futures main contract will show a short - term oscillatory trend [8][9] Summary by Directory 1. Soda Ash and Glass Market Review and Operation Suggestions - Soda Ash: On August 26, the main soda ash futures SA601 contract fluctuated downward, closing at 1311 yuan/ton, down 24 yuan/ton with a decline of 1.79% and a daily increase in positions of 13,450 lots. Fundamentally, the production increased and the inventory remained at a high level. The weekly production of soda ash rose to 771,400 tons, a 1.32% week - on - week increase. The factory inventory increased to 1.9108 million tons, a 0.71% increase from Monday. The daily melting volume of photovoltaic glass decreased to 87,000 tons, and the daily melting volume of float glass remained stable. The supply - demand pattern of strong supply and weak demand remained unchanged [7][8] - Glass: Fundamentally, the daily melting volume of glass was flat compared with last week, the inventory continued to accumulate, and the weekly LOW - E glass start - up rate was basically the same as before. The industry was in a weak supply - demand balance. In terms of profit, the profit of float glass using coal - gas as fuel increased, while those using natural gas and petroleum coke decreased by double - digits. The market is focused on the expected trend of the anti - involution policy. The glass futures main contract will show a short - term oscillatory trend [9] - Transaction Data: The trading data of soda ash and glass futures on August 26 are shown in Table 1, including opening price, highest price, lowest price, closing price, change, change rate, position volume, and position volume change of different contracts such as SA509, SA601, FG509, and FG601 [7] 2. Data Overview - Multiple charts are provided, including the price trends of soda ash and glass active contracts, soda ash weekly production, soda ash enterprise inventory, central China heavy soda market price, and flat glass production, with data sources from Wind and iFind [11][15][18]
纯碱、玻璃日报-20250827
Jian Xin Qi Huo·2025-08-27 01:41