纯碱、玻璃日报-20251014

Group 1: Report Information - Report Name: Soda Ash and Glass Daily Report [1] - Date: October 14, 2025 [2] - Research Team: Energy and Chemical Research Team [4] - Researchers: Li Jie (Crude Oil and Fuel Oil), Ren Junchi (PTA and MEG), Peng Haozhou (Urea and Industrial Silicon), Peng Jinglin (Polyolefins), Liu Youran (Pulp), Feng Zeren (Glass and Soda Ash) [4] Group 2: Industry Investment Rating - No industry investment rating information is provided in the report. Group 3: Core Viewpoints - Soda Ash: The equipment maintenance of soda ash enterprises is less than expected, and the supply remains at a high level. The downstream demand is weak, and the pattern of oversupply has not been effectively improved. The macro - sentiment is stable, and the futures price is expected to fluctuate weakly [8]. - Glass: The fundamentals of float glass are in a weak balance, and the production of photovoltaic glass shows a downward trend. After the holiday, the supply pressure and inventory accumulation suppress the price rebound. The cost side may be disturbed, and the price is expected to fluctuate weakly in the short - term, but excessive short - selling is not recommended [9]. Group 4: Soda Ash and Glass Market Review and Operation Suggestions Soda Ash - On October 13, the price of the main soda ash futures contract SA601 continued to decline. The closing price was 1,247 yuan/ton, down 6 yuan/ton, a decrease of 0.47%, and the position decreased by 58,152 lots [7]. - The equipment maintenance of soda ash enterprises is less than expected, the supply is high, and the downstream demand is weak. The market is in an oversupply situation, and the price is expected to fluctuate weakly [8]. Glass - The fundamentals of float glass are in a weak balance, and the production of photovoltaic glass shows a downward trend. After the holiday, the supply pressure and inventory accumulation suppress the price rebound. The cost side may be disturbed, and the price is expected to fluctuate weakly in the short - term, but excessive short - selling is not recommended [9]. Group 5: Data Overview - The report provides data charts on the price trends of active contracts of soda ash and glass, weekly production and enterprise inventory of soda ash, market price of heavy soda ash in Central China, and flat glass production [11][14][16]