玻璃纯碱早报 | | | | | | | | | 研究中心能化团队 | | | 2025/5/12 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 玻 璃 | | | | | | | | | | | | | | 2025/4/30 | 2025/5/8 | 2025/5/9 | | 周度变化 日度变化 | | 2025/4/30 | 2025/5/8 | 2025/5/9 | | 周度变化 日度变化 | | FG09合约 | 沙河安全 1220.0 | 1198.0 | 1194.0 | -26.0 | -4.0 | | 1082.0 | 1057.0 | 1034.0 | -48.0 | -23.0 | | | 5mm大 板 | | | | | | | | | | | | FG01合约 | 沙河长城 1207.0 | 1190.0 | 1185.0 | -22.0 | -5.0 | | 1131.0 | 1106.0 | 1078.0 | -53.0 | -28.0 | | | 5mm大板 | | | ...

然橡胶产业期现目报 投资咨询业务资格:证监许可【2011】1292号 2025年5月12日 Z0021810 寇帝斯 | 玻璃纯碱期现日报 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 [2011] 1292号 | 2025年5月12日 | | | | 蒋诗语 | Z00170002 | | 玻璃相关价格及价差 | | | | | | | | 品种 | | 那位 | 前值 | 张庆 | 张跌幅 | 单位 | | 华北报价 | | 1220 | 1220 | 0 | 0.00% | | | 华东报价 | | 1370 | 1370 | 0 | 0.00% | | | 华中报价 | | 1170 | 1170 | 0 | 0.00% | | | 华南报价 | | 1320 | 1320 | 0 | 0.00% | アレ/14电 | | 玻璃2505 | | 1039 | 1045 | -6 | -0.57% | | | 玻璃2509 | | 1034 | 1057 | -23 | -2.18% | | | 05基 ...

然橡胶产业期现日报 投资咨询业务资格:证监许可【2011】1292号 2025年5月8日 Z0021810 寇帝斯 | 现货价格及基差 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 5月7日 | 5月6日 | 涨跌 | 涨跌幅 | 单位 | | 云南国营全乱胶(SCRWF):上海 | 14700 | 14700 | 0 | 0.00% | | | 全乳基差 (切换至2509合约) | -110 | -115 | 5 | 4.35% | 元/吨 | | 泰标混合胶报价 | 14400 | 14450 | -50 | -0.35% | | | 非标价差 | -410 | -365 | -45 | -12.33% | | | 杯胶：国际市场:FOB中间价 | રૂડે રેટ | 53.05 | 0.50 | 0.94% | 泰铢/公斤 | | 胶水：国际市场:FOB中间价 | 59.50 | 59.25 | 0.25 | 0.42% | | | 天然橡胶:胶块:西双版纳州 | 13000 | 13000 | 0 | 0.00% | | | 天然橡 ...

| 玻璃纯碱早报 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 玻 璃 | | | | | | | | 研究中心能化团队 | | | 2025/5/8 | | 周度变化 日度变化 | 2025/4/30 | 2025/5/6 | 2025/5/7 | | | | 2025/4/30 | 2025/5/6 | 2025/5/7 | | 周度变化 日度变化 | | 沙河安全 5mm大 板 | 1220.0 | 1198.0 | 1198.0 | -22.0 | 0.0 | FG09合约 | 1082.0 | 1071.0 | 1074.0 | -8.0 | 3.0 | | 沙河长城 5mm大板 | 1207.0 | 1194.0 | 1194.0 | -13.0 | 0.0 | FG01合约 | 1131.0 | 1117.0 | 1115.0 | -16.0 | -2.0 | | 沙河5mm大 板低价 | 1173.0 | 1173.0 | 1168.0 | ...

| 玻璃纯碱早报 | | | | | | | | 研究中心能化团队 | | | 2025/5/7 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 玻 璃 | | | | | | | | | | | | | 2025/4/29 2025/4/30 2025/5/6 周度变化 日度变化 | | | | | | | 2025/4/29 | 2025/4/30 | 2025/5/6 | | 周度变化 日度变化 | | 沙河安全 5mm大 板 | 1220.0 | 1220.0 | 1198.0 | -22.0 | -22.0 | FG09合约 | 1108.0 | 1082.0 | 1071.0 | -37.0 | -11.0 | | 沙河长城 5mm大板 | 1207.0 | 1207.0 | 1194.0 | -13.0 | -13.0 | FG05合约 | 1074.0 | 1031.0 | 1038.0 | -36.0 | 7.0 | | 沙河5mm大 板低价 | 1173.0 | 1173.0 | 1 ...

分析师：何慧 【策略】 单边策略：目前主力09合约关注20日均线压制情况，短期1380成为多空分水岭，盘面围绕联碱成本在1230-1320运行。 套利策略：目前纯碱9-1价差在-10附近，几乎平水，考虑到夏季季节性检修，以及年底天然碱新增产能投产计划，9-1正套参与。 FG-SA09合约价差为-270左右，4月中旬玻璃-纯碱价差走弱，目前仍未止跌迹象，在-320至-360之间再尝试参与多玻璃空纯碱操作。 套保策略：目前碱厂库存绝对高位，上游企业可依据自身库存情况关注09合约在盘面大幅升水现货时，在1400-1450附近卖出套保 机会。下游玻璃企业刚需补库，可在盘面低于现货交割成本时买入套保。 【风险】检修超预期（上行风险）、煤炭及相关燃料走强（上行风险）、重回累库（下行风险）、宏观政策不及预期（下行风险） 能源化工团队 郭建锋 F03126846 何 慧 Z0011420 郭艳鹏 Z0021323 李 倩 F03134406 中辉期货研究院 时间：2025.04.30 【观点】4月在中美关税政策冲击下，商品市场弱势运行，叠加碱厂检修装置复产，纯碱期现价格联动下行。供应方面，碱厂5月检 修计划增多，市场存供应缩 ...

Report Investment Rating - There is no information about the industry investment rating provided in the report. Core Viewpoints - There is no explicit core viewpoint presented in the report. It mainly provides detailed data on glass and soda ash prices, profits, production and sales, etc. Summary of Glass Section Price Data - The price of 5mm large - plate glass from different manufacturers changed from April 22 to April 29, 2025. For example, the price of 5mm large - plate glass from Shahe Anquan decreased from 1278.0 to 1220.0, with a weekly change of - 58.0 [1]. - Futures contract prices also changed. The FG09 contract price decreased from 1124.0 on April 22 to 1108.0 on April 29, with a weekly change of - 16.0 [1]. Profit Data - The profit of glass production using different energy sources and in different regions changed. For example, the profit of 09FG盘面 natural gas decreased from - 257.4 on April 22 to - 286.2 on April 29, with a weekly change of - 28.8 [1]. Production and Sales - The production - sales ratios in different regions on April 29 were: Shahe 70, Hubei 89, East China 88, and South China 96 [1]. Summary of Soda Ash Section Price Data - The price of heavy and light soda ash in different regions changed from April 22 to April 29, 2025. For example, the price of Shahe heavy soda increased from 1290.0 to 1350.0, with a weekly change of 60.0 [1]. - Futures contract prices also changed. The SA05 contract price increased from 1274.0 on April 22 to 1329.0 on April 29, with a weekly change of 55.0 [1]. Profit Data - The profit of soda ash production using different methods and in different regions changed. For example, the profit of North China ammonia - soda method increased from - 149.8 on April 22 to - 84.7 on April 29, with a weekly change of 65.1 [1]. Other Data - The SA month - difference 05 - 9 decreased from - 41.0 on April 22 to - 47.0 on April 29, with a weekly change of - 6.0 [1].

2025-04-28 纯碱玻璃周度报告汇总 研究员：于小栋 从业资格号：F3081787 交易咨询从业证书号：Z0019360 目 录 C O N T E N T S 01 纯碱市场综述 02 月度供需 03 基差价差 04 纯碱市场价格 05 纯碱供应 06 纯碱需求 07 纯碱库存 08 仓单数量/有效预报 09 地产相关数据 01 玻璃市场综述 02 月度供需 03 基差价差 04 玻璃市场价格 05 玻璃供应 06 玻璃需求 07 玻璃库存 纯碱 玻璃 01 纯碱市场综述 目录 目 录 周度市场综述 | | | | | | 纯 碱 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 项 目 | 备 注 | 当 期 | 环 比 | 下期 (E) | 下下期 (E) | 思 路 | | | | 总产量（万吨） | | 75.51 | -0.05 | 73.71 | 69.94 | 阿拉善周内产量短时波动，供应整体高位运行；5月检修计划逐步明 | | | 供 应 | 重质产量（万吨） | | 41.55 | -0.10 | ...

Glass Price and Contract Information - The price of 5mm glass plates from various manufacturers showed minor changes from April 15 to April 22, 2025. For example, the price of 5mm glass plates from Shahe Anquan remained at 1278.0, while the price of 5mm glass plates from Shahe Great Wall decreased from 1216.0 to 1198.0 [1]. - The FG09 contract price decreased from 1181.0 to 1124.0, and the FG05 contract price decreased from 1144.0 to 1074.0 during the same period [1]. Profit and Basis Information - The profit of North China coal-fired glass increased from 254.9 to 259.1, while the profit of South China natural gas glass remained at -154.3 [1]. - The 05 Hebei basis decreased from 103.0 to 90.0, and the 05 Hubei basis decreased from 89.0 to 76.0 [1]. Spot and Sales Information - The spot price of glass in Shahe was around 1165, and the spot price in Hubei was around 1150. The sales volume in Shahe was 146, in Hubei was 103, in East China was 108, and in South China was 102 [1]. Soda Ash Price and Contract Information - The price of heavy soda ash in various regions showed different trends from April 15 to April 22, 2025. For example, the price of heavy soda ash in Shahe decreased from 1350.0 to 1290.0, while the price in South China remained at 1570.0 [1]. - The SA05 contract price decreased from 1331.0 to 1274.0, and the SA01 contract price decreased from 1401.0 to 1335.0 during the same period [1]. Profit and Basis Information - The profit of North China ammonia-alkali soda ash decreased from -130.4 to -149.8, and the profit of North China combined-alkali soda ash decreased from -63.7 to -77.5 [1]. - The SA05 Shahe basis increased from 11.0 to 16.0, and the North China ammonia-alkali cost decreased from 1420.4 to 1419.8 [1]. Spot and Industry Information - The spot price of heavy soda ash in Hebei delivery warehouses was around 1270, and the spot price in Shahe warehouses was around 1290. The terminal delivery price was around 1320 [1].

1. Report Industry Investment Rating - No information provided on the industry investment rating 2. Core Viewpoints - No explicit core viewpoints are presented in the given content 3. Summary by Related Catalogs Glass - **Price Changes**: From April 11 to April 18, 2025, the price of FG09 contract dropped by 86.0 to 1122.0, FG05 contract decreased by 62.0 to 1084.0, and FG5 - 9 spread increased by 24.0 to -38.0. Some spot prices like that of 5mm large - board glass in certain regions remained stable, while others had minor changes, e.g., the price of 5mm large - board glass from Shahe Great Wall decreased by 26.0 to 1198.0 [1] - **Profit and Cost**: On April 18, 2025, the North China coal - fired profit was 266.8 with a weekly increase of 1.6 and daily increase of 2.5, and the North China coal - fired cost was 910.2 with a weekly decrease of 5.6 and daily decrease of 2.5. The South China natural gas profit remained at -154.3. The 09FG and 05FG contract natural gas profits decreased significantly [1] - **Spot and Sales**: Spot prices: Shahe traders' price dropped to around 1160, Hubei's factory low - price was around 1150. Sales ratios: Shahe was 66/58, Hubei was 77/84, East China was 81/70, and South China was 85/80 [1] Soda Ash - **Price Changes**: From April 11 to April 18, 2025, the SA05 contract price decreased by 41.0 to 1286.0, SA01 contract dropped by 53.0 to 1348.0, and SA09 contract decreased by 46.0 to 1324.0. Some spot prices of heavy and light soda ash in different regions changed, e.g., the price of heavy soda ash in Shahe decreased by 30.0 to 1310.0 [1] - **Profit and Cost**: On April 18, 2025, the North China ammonia - soda process profit was -131.7 with a weekly decrease of 23.7 and daily decrease of 9.4, and the North China ammonia - soda process cost was 1421.7 with a weekly decrease of 1.3 and daily decrease of 0.6. The North China combined - soda process profit decreased to -77.3 [1] - **Spot and Industry**: Spot prices: Heavy soda ash in Hebei's delivery warehouse was quoted around 1280 - 1290, and in Shahe warehouse around 1310. No information on the industry aspect was provided [1]