市场成交转弱，钢价震荡下行

Group 1: Report Industry Investment Rating - No specific industry investment rating is provided in the report. Group 2: Core Views of the Report - The market trading has weakened, and steel prices are fluctuating downward. Glass and soda ash markets face continuous supply - demand contradictions, with glass showing a weakening trend and soda ash under pressure due to potential demand challenges. For double - silicon, the decline in building material consumption has put pressure on alloys [1][3]. - The recommended strategies for glass, soda ash, silicon manganese, and silicon iron are all to expect a sideways movement [2][4]. Group 3: Summary by Related Catalogs Glass and Soda Ash - Market Analysis: Glass futures showed a weakening trend, and the market trading center of the spot market moved down. Soda ash futures had a narrow - range fluctuation, and downstream buyers were mainly on the sidelines. This week, the inventory of float glass manufacturers was 58.227 million heavy cases, a 2.05% week - on - week decrease; the soda ash production was 735,400 tons, a 4.48% week - on - week increase, and the inventory was 1.4943 million tons, a 2.88% week - on - week decrease [1]. - Supply - Demand and Logic: For glass, although the increase in cold - repair of production lines has slightly improved demand, the supply contraction is insufficient, and the supply - demand contradiction remains large. For soda ash, the cost - side support has weakened, and there are concerns about future demand due to the expected increase in float glass cold - repair [1]. - Strategy: The recommended strategy for glass and soda ash is to expect a sideways movement [2]. Double - Silicon (Silicon Manganese and Silicon Iron) - Market Analysis: For silicon manganese, this week's steel consumption decreased, and the silicon manganese futures followed the downward trend of the black market. The 6517 silicon manganese prices were 5490 - 5550 yuan/ton in the northern market and 5550 - 5600 yuan/ton in the southern market. For silicon iron, the main contract declined after the mid - day session. The 72 - grade silicon iron prices were 5100 - 5200 yuan/ton, and the 75 - grade silicon iron prices were 5600 - 5700 yuan/ton [3]. - Supply - Demand and Logic: Silicon manganese enterprises are facing losses, with high production, high inventory, high cost, and low demand. The port manganese ore inventory has slightly increased but remains at a high level. Silicon iron demand has weakened, and enterprises have reduced the operating rate, leading to a decline in inventory [3]. - Strategy: The recommended strategy for silicon manganese and silicon iron is to expect a sideways movement [4].