纯碱、玻璃日报-20260327

Report Information - Report Name: Soda Ash and Glass Daily Report [1] - Date: March 27, 2026 [2] Industry Investment Rating - No relevant information provided Core Viewpoints - The soda ash market is in a weak and pressured situation. Although the supply - side pressure has eased slightly, it is still at a relatively high level in recent years. The demand is weak, and the inventory is at a historical high. The cost - side support from geopolitical factors is unstable, and the soda ash market faces downward price pressure in the medium - to - long - term [8]. - The glass futures price is in a dilemma of oscillation. The high inventory and production capacity restart expectations suppress the price, while cold - repair expectations and raw material price fluctuations provide support. The key to the long - term rise of glass prices lies in the continuous improvement of commercial housing sales data. There are short - term rebound opportunities, but the upside space is limited [9][10]. Summary by Directory 1. Soda Ash and Glass Market Review and Operation Suggestions Soda Ash - On March 26, the main soda ash futures contract SA605 changed from rising to falling, with a closing price of 1,225 yuan/ton, a decrease of 15 yuan/ton (1.20% decline), and a daily reduction of 13,841 lots [7]. - The soda ash market is weak. The supply - side pressure has eased compared to last week but is still high. The demand is weak due to increased cold - repairs in the downstream float glass industry and the under - performing real - estate completion data. The inventory is above 1.8 million tons, and the de - stocking process is blocked. Geopolitical factors support the cost side, but the support is unstable [8]. Glass - The glass futures price is in an oscillating pattern. The high inventory and production capacity restart expectations suppress the price, while cold - repair expectations and raw material price fluctuations support it. The continuous accumulation of inventory is the core contradiction restricting the price increase. Although the industry is in a loss - making range, the price has limited downward space. The key to the long - term rise lies in the improvement of commercial housing sales data. There are short - term rebound opportunities, and operation should focus on risk control [9][10]. 2. Data Overview - The report provides multiple data charts, including the price trends of soda ash and glass active contracts, soda ash weekly production, soda ash enterprise inventory, central China heavy soda market price, and flat glass production [12][17][20]