纯碱、玻璃日报-20251029

Report Information - Report Name: Soda Ash and Glass Daily Report [1] - Date: October 29, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Industry Investment Rating - Not provided Core Views - The soda ash market shows signs of bottom - building, but with no substantial positive factors, the futures price is expected to fluctuate weakly. The glass market is in a weak supply - demand balance, and the market style may shift from fundamental trading to expectation trading [8][9] Summary by Section 1. Soda Ash and Glass Market Review and Operation Suggestions Soda Ash - On October 28, the main futures contract SA601 of soda ash remained stable, with a closing price of 1239 yuan/ton, no change in price, and an increase of 8 lots in positions. Supply is stable, with weekly production increasing by 0.01 million tons to 74.06 million tons. Device overhauls are at a high level. Demand for heavy soda ash has little change. Alkali plant inventories are continuously accumulating, reaching 170.21 million tons. The market's oversupply situation has improved, and the contract shows signs of bottom - building. It is expected to fluctuate weakly [7][8] Glass - Fundamentally, the production of float glass is stable, and the photovoltaic glass is in a weak balance. The overall glass supply is at a high level this year, and the possibility of cold repair is low. After the festival, factory inventories are high, and inventory days are rising. The real - estate market has not stabilized, and the recovery of float glass demand may not last. The supply - demand is in a weak balance, and the market style may shift [9] 2. Data Overview - The report provides figures on the price trends of active contracts for soda ash and glass, the market price of heavy soda ash in Central China, and the flat glass production, with data from Wind and iFind [12][13][14]