Core Viewpoint - The glass futures market has experienced a "first decline then rise" trend since October, with ongoing battles between "weak reality" and "strong expectations" impacting market sentiment [1] Group 1: Market Performance - After the National Day holiday, the main glass futures contract (2601) fell from a high of 1233 yuan/ton to 1072 yuan/ton by October 22, a decline of 15.02%, reflecting strong pessimism in the market [1] - Following the low point on October 22, the glass futures market entered a phase of bottom consolidation, with the contract closing at 1127 yuan/ton on October 29, a 5.13% increase from the previous low [1] Group 2: Supply and Demand Dynamics - Post-holiday, glass production and sales data remained weak, with inventory accumulation exceeding market expectations, leading to pressure on the spot market [1] - Recent improvements in glass production and sales data, with sales rates exceeding 100% on October 28, have provided fundamental support for the futures market rebound [2] Group 3: Influencing Factors - The rebound in glass prices is driven by a combination of real market factors, policy expectations, and cost support, with recent price reductions stimulating demand and improving sales rates [2] - The upcoming glass industry symposium has heightened expectations for policy support, while the "14th Five-Year Plan" aims to enhance the competitiveness of traditional industries, further boosting market confidence [2] Group 4: Price Outlook - Analysts express differing views on whether glass prices have bottomed out, with some suggesting that the current market dynamics are still characterized by "weak reality" and "strong expectations" [3] - The potential for a year-end rush in demand and the effectiveness of capacity exit driven by policy or market forces are critical factors to monitor for future price movements [4]