Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The soda ash futures market is expected to maintain a weak and volatile trend. Although there are anti - involution expectations in the soda ash industry, they have not materialized, and the market has returned to the logic of weak reality. The supply - demand pattern of soda ash may continue to be oversupplied [8]. - The glass futures market is currently dominated by oscillations. In the medium term, if there is no new market expectation to stimulate, the downward trend of the glass market is difficult to reverse due to weak demand and high supply [9]. 3. Summary by Sections 3.1 Soda Ash and Glass Market Review and Operation Suggestions - Soda Ash Market on November 12th: The main soda ash futures contract SA601 fluctuated downward. The closing price was 1,214 yuan/ton, a decrease of 11 yuan/ton or 0.89%, with a daily increase of 7,975 lots. The enterprise production and sales tend to be balanced, and the inventory fluctuates slightly. The weekly production decreased by 1.41% to 746,900 tons, remaining at a high level. The demand may decline further due to the slight decrease in float glass production and the inventory accumulation of photovoltaic glass. The inventory of soda ash plants increased slightly to 1.7142 million tons, in the middle range of the past six months. The short - term rebound of the market is affected by the increase in light soda ash prices and equipment maintenance, but in the long - term, the supply - demand pattern is expected to remain oversupplied [7][8]. - Glass Market on November 12th: Four coal - fired production lines in Shahe were shut down in the short term. The photovoltaic glass market is in a weak balance, and the overall glass supply is at a high level for the year. After the holiday, the factory inventory remains high, and the demand recovery is weak. Although the production limit in Shahe has been implemented, the actual situation is not as expected, and the market lacks new driving forces. The market is currently in a state of expectation game between year - end rush work and winter storage, and the medium - term market direction is still dominated by fundamentals [9]. 3.2 Data Overview - The report provides multiple data charts, including the price trends of active soda ash and glass contracts, weekly soda ash production, soda ash enterprise inventory, central China heavy soda ash market price, and flat glass production, with data sources from Wind, iFind, and the research and development department of Jianxin Futures [13][14][15]
纯碱、玻璃日报-20251113
Jian Xin Qi Huo·2025-11-13 02:38