Group 1 - Glass futures market shows a downward trend, with the main contract dropping by 2.63% to 1073.00 yuan/ton as of January 19 [1] - National Bureau of Statistics reports that flat glass production in December 2025 is expected to reach 88.29 million weight boxes, a year-on-year increase of 3.4% and a month-on-month increase of 8.2%; total production from January to December is 97.591 million weight boxes, a year-on-year decrease of 3.0% [2] - As of January 15, the average order days for deep processing glass sample enterprises is 9.3 days, an increase of 7.9% month-on-month, with a year-on-year increase of 86.4% due to a low base last year caused by the early Spring Festival [2] Group 2 - According to Everbright Futures, the short-term glass fundamentals have both bullish and bearish factors, with external macro and policy factors providing temporary support; glass prices are expected to continue fluctuating widely [4] - New Century Futures indicates that weak macro sentiment is leading to a downturn in glass prices, with production capacity being reduced to 150,100 tons due to losses across all three fuel production lines; the demand outlook remains weak as real estate completions decline [4] - The market is experiencing increased inventory pressure among intermediate traders, and the demand for float glass continues to be sluggish, further exacerbated by declining temperatures [4]