玻璃纯碱早报-20260119

Report Industry Investment Rating - Not provided Core Viewpoints - Not provided Summary by Related Catalogs Glass - Price and Contract Information: From January 9 to January 16, 2026, the price of Shahe Anquan 5mm large - plate glass remained at 996.0, while Shahe Great Wall 5mm large - plate glass dropped by 17.0 to 976.0. The FG05 contract price decreased by 41.0 to 1103.0, and the FG09 contract price decreased by 29.0 to 1209.0. The FG 5 - 9 spread decreased by 12.0 to - 106.0 [1]. - Base and Profit Information: The 05 Hebei basis changed from - 151.0 to - 127.0, and the 05 Hubei basis changed from - 154.0 to - 113.0. The North China coal - fired profit decreased by 11.4 to 90.3, and the cost decreased by 5.6 to 885.7. The South China natural gas profit remained at - 188.1, and the North China natural gas profit decreased by 12.8 to - 364.5. The 05FG and 09FG on - screen natural gas profits also changed [1]. - Market Conditions: Shahe factory's glass production and sales were fair, with poor spot - futures trading; Shahe traders' prices were around 975, with average shipments. Hubei factories' prices were around 990, with fair trading. Hubei's mid - stream spot - futures 05 - 150 had poor trading. The glass production and sales rates were 135 in Shahe, 90 in Hubei, 91 in East China, and 105 in South China [1]. Soda Ash - Price and Contract Information: From January 9 to January 16, 2026, the price of Shahe heavy soda ash decreased by 40.0 to 1150.0, and the SA05 contract price decreased by 36.0 to 1192.0. The SA01 contract price decreased by 26.0 to 1115.0, and the SA09 contract price decreased by 36.0 to 1259.0. The SA01 Shahe basis changed from 49.0 to 35.0, and the SA month - spread 01 - 05 remained at - 77.0 [1]. - Profit and Cost Information: The North China ammonia - soda process profit decreased by 17.5 to - 218.0, and the cost decreased by 2.5 to 1338.0. The North China combined - soda process profit decreased by 54.9 to - 319.7 [1]. - Market Conditions: The spot price of heavy soda ash at the Hebei delivery warehouse was around 1120, and the price delivered to Shahe was around 1150. The upstream inventory of the soda ash industry remained stable, and the mid - stream inventory slightly increased [1].