金信期货日刊：玻璃看多策略要点-20251124

Group 1: Glass Investment Strategy - The current price of the glass 2605 contract is close to the cost line of 1000 yuan/ton, with limited downside space, but bottom - fishing requires strict risk control and waiting for signals [3] - Fundamentally, traditional real - estate demand is weak, dragging down production and sales, but the demand for new tracks such as photovoltaic glass and BIPV has increased by 18% year - on - year, providing long - term support. On the supply side, some production lines in Shahe are under cold repair, and although there is a resumption expectation, the elimination of backward production capacity continues [4] - Technically, attention should be paid to the support range of 1000 - 1005 yuan. Only when the price stabilizes in this range and there are signals such as enlarged trading volume and continuous position reduction can one try to go long with a light position [4] Group 2: Stock Index Futures Analysis - Today, the three major A - share indexes opened and closed lower under the influence of external markets. The medium - term upward trend remains unchanged, but the short - term trend is extreme, and the adjustment seems to be expanding. Bottom - fishing requires caution [8] Group 3: Gold Analysis - After a period of rebound, gold is currently approaching an important resistance level. At this stage, the volatility is increasing, and it is expected to fluctuate for some time [12] Group 4: Iron Ore Analysis - With the commissioning of the Simandou project, the expectation of loose supply has further fermented. On the demand side, except for exports, the real - estate and infrastructure sectors are still in the process of bottom - seeking, and domestic demand support is weak. Technically, it continued to be weak today and should be treated as a wide - range shock, with high - selling and low - buying [14][15] Group 5: Methanol Analysis - As of November 19, 2025, the total inventory of Chinese methanol ports was 147.93 million tons, a decrease of 6.43 million tons from the previous period. Both the East and South China regions saw inventory reduction. This week, the methanol port inventory decreased. With the lack of domestic supply and the back - flow of imported goods, the提货 of social warehouses in East China was good, and the overall downstream rigid demand was stable. One should seize the opportunity of short - term short and long - term long [21] Group 6: Pulp Analysis - The pulp import volume decreased month - on - month in October, and the domestic port inventory showed a downward trend. However, the supply in the market is still abundant. The sporadic publishing tenders of cultural paper downstream have boosted market confidence, but the social demand is flat, the paper mill's gross profit continues to decline, and the futures market has shown a downward - biased shock trend recently [24]