玻璃纯碱早报-20251106

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No information provided 3. Summary by Related Catalogs Glass - Price Changes: From October 29 to November 5, 2025, prices of various 5mm glass products in different regions showed changes. For example, the price of 5mm large - board glass from Shahe Anquan increased from 1121.0 to 1138.0, a week - on - week increase of 17.0; the price of 5mm large - board glass from Wuhan Changli increased from 1070.0 to 1090.0, a week - on - week increase of 20.0 [1]. - Contract Price Changes: FG05 contract price decreased from 1279.0 on October 29 to 1231.0 on November 5, a week - on - week decrease of 48.0; FG01 contract price decreased from 1127.0 to 1097.0, a week - on - week decrease of 30.0 [1]. - Profit and Cost: North China coal - fired glass profit increased from 187.7 to 200.0, a week - on - week increase of 12.3; North China coal - fired cost increased from 925.3 to 921.0, a week - on - week decrease of 4.3. South China natural gas glass profit remained at - 188.1, while North China natural gas glass profit increased from - 240.1 to - 217.4, a week - on - week increase of 22.7 [1]. - Market Conditions: Shahe factory glass sales improved recently. The low - price of Shahe traders was around 1121, with general sales. In Hubei, the factory price rose to around 1060, and factory transactions were good. The mid - stream in Hubei had a flat price with the futures, and transactions were general. Glass sales rates were 165 in Shahe, 138 in Hubei, 112 in East China, and 110 in South China [1]. Soda Ash - Price Changes: From October 29 to November 5, 2025, the price of Shahe heavy soda ash decreased from 1210.0 to 1140.0, a week - on - week decrease of 70.0; the price of Huazhong heavy soda ash decreased from 1210.0 to 1160.0, a week - on - week decrease of 50.0 [1]. - Contract Price Changes: SA05 contract price decreased from 1347.0 on October 29 to 1282.0 on November 5, a week - on - week decrease of 65.0; SA01 contract price decreased from 1259.0 to 1195.0, a week - on - week decrease of 64.0 [1]. - Profit and Cost: North China ammonia - soda process profit decreased from - 216.7 to - 305.2, a week - on - week decrease of 88.4; North China combined - soda process profit decreased from - 232.1 to - 317.2, a week - on - week decrease of 85.1 [1]. - Market Conditions: The spot price of heavy soda ash at the Hebei delivery warehouse was around 1110, and the price delivered to Shahe was around 1140. The inventory of the mid - upstream in the soda ash industry decreased slightly [1].