1. Report Industry Investment Ratings No industry investment ratings are provided in the reports. 2. Core Views - **Glass and Soda Ash**: The glass and soda ash market continues to be weak. For soda ash, the supply is high after the traditional summer inspection season, and the demand remains at a rigid level. It is recommended to short at high levels. For glass, the industry needs capacity clearance to solve the over - supply problem. Short - term observation is advised, and mid - term attention should be paid to the actual demand in the peak season [1]. - **Log**: The log fundamentals are good, with low inventory, continuous destocking, and strong demand. As the seasonal peak season is approaching, the price has strong support at the bottom. It is recommended to go long at low levels [2]. - **Polysilicon**: In the short term, the market is more focused on the expectation of policy implementation in September, and the price is easy to rise and hard to fall. The supply reduction in September is not obvious, and there may be a slight inventory build - up. The price is more affected by policy expectations and has high volatility risk [3]. - **Industrial Silicon**: The cost of industrial silicon is expected to rise, and there are signs of capacity clearance. The supply - demand relationship was in a tight balance in August. It is recommended to go long at low levels, with the price fluctuating between 8000 - 9500 yuan/ton [4]. - **Natural Rubber**: The supply is affected by seasonal climate, with strong upward pressure on raw material prices and inventory destocking. The demand is expected to improve as enterprises resume production, but the increase in production may be limited. The price of the 01 contract is expected to be in the range of 15000 - 16500 yuan/ton [5]. 3. Summary by Related Catalogs Glass and Soda Ash - **Prices and Spreads**: Glass prices in North China, Central China, and some futures contracts increased, while soda ash prices were mostly stable. The 05 basis of glass decreased, and the 05 basis of soda ash increased [1]. - **Supply**: Soda ash production increased, with the weekly output reaching 751,700 tons. The melting volume of float glass and photovoltaic glass remained unchanged [1]. - **Inventory**: Glass factory inventory increased slightly, soda ash factory inventory decreased, and the inventory in the delivery warehouse increased. The inventory days of soda ash in glass factories decreased [1]. - **Real Estate Data**: New construction area improved slightly, while construction area, completion area, and sales area declined [1]. Log - **Prices and Spreads**: Log futures prices declined slightly. The prices of some spot logs remained stable, and the CFR price of some logs decreased [2]. - **Supply and Demand**: The arrival volume at 12 ports in China decreased last week but is expected to increase this week. The inventory continued to decline, and the daily average outbound volume remained above 60,000 cubic meters [2]. Polysilicon - **Prices and Spreads**: The average price of N - type polysilicon decreased slightly, and the futures price of the main contract decreased by 3.93%. Some monthly spreads changed significantly [3]. - **Fundamentals**: Weekly silicon wafer production increased by 3.53%, and polysilicon production decreased by 2.58%. Monthly polysilicon production, import volume, and silicon wafer export volume increased [3]. - **Inventory**: Polysilicon inventory decreased by 0.94%, and silicon wafer inventory decreased by 6.65% [3]. Industrial Silicon - **Prices and Spreads**: The spot prices of industrial silicon remained stable, and some basis and monthly spreads changed significantly [4]. - **Fundamentals**: National and regional industrial silicon production increased, and the national and regional operating rates also increased. The production of organic silicon DMC and polysilicon increased, while the production of recycled aluminum alloy decreased [4]. - **Inventory**: The inventory in Xinjiang increased slightly, while the inventory in Yunnan and Sichuan factories and the social inventory decreased [4]. Natural Rubber - **Prices and Spreads**: The prices of some natural rubber products decreased, and some monthly spreads changed [5]. - **Fundamentals**: The production of natural rubber in Thailand and Indonesia increased in July, while the production in India and China decreased. The operating rates of semi - steel and all - steel tires decreased, and the domestic tire production decreased [5]. - **Inventory**: The bonded area inventory decreased, and the factory - warehouse futures inventory of natural rubber in the SHFE increased [5].

1. Report Industry Investment Ratings - No industry investment ratings are provided in the reports 2. Core Views - **Glass and Soda Ash**: Glass futures are driven by sentiment, with the spot market turning strong but the long - term outlook depending on cold - repair. Soda ash is in an oversupply situation, with inventory building up after maintenance. It is recommended to wait for short - selling opportunities in soda ash and to observe the glass market [1] - **Log**: The log futures rose sharply, but the high - temperature season leads to low demand. The short - term upward trend's sustainability is questionable, and it is advisable to wait and see [2] - **Rubber**: Due to continuous rainfall in Southeast Asia and potential typhoons in Hainan, supply is disrupted, while demand is stable. Short - term rubber prices are rising, and a short - selling approach on rebounds is recommended [4] - **Industrial Silicon**: The spot price of industrial silicon is stable, and the futures price has increased. The impact of rising polysilicon prices is weakening. Attention should be paid to inventory changes and large - enterprise restart plans, with a focus on price decline risks [6] - **Polysilicon**: Polysilicon futures prices have reached a new high. The short - term bullish sentiment is strong, but attention should be paid to supply - demand regulation and risk management [8] 3. Summaries by Related Catalogs Glass and Soda Ash - **Prices and Spreads**: Glass and soda ash spot prices in most regions are stable, while futures prices have increased. Some spreads have changed significantly [1] - **Supply and Demand**: Soda ash production and inventory are increasing, while float and photovoltaic melting volumes are decreasing [1] - **Real Estate Data**: Real estate indicators such as new construction area and construction area show negative growth, but the decline in some indicators has narrowed [1] Log - **Futures and Spot Prices**: Log futures prices have generally increased, while spot prices in ports are stable. The outer - market quotation has risen [2] - **Supply**: Port shipments have increased, the number of departing ships from New Zealand has decreased, and inventory has decreased [2] - **Demand**: Log demand has decreased, and the daily outbound volume has declined [2] Rubber - **Spot Prices and Basis**: Rubber spot prices have mostly increased, and the basis of some varieties has changed [4] - **Fundamental Data**: Rubber production in some countries has increased, tire production has increased slightly, and imports have decreased [4] - **Inventory Changes**: Rubber inventory in bonded areas and warehouses has changed, and the entry and exit rates of dry rubber in Qingdao have adjusted [4] Industrial Silicon - **Spot Prices and Basis**: Industrial silicon spot prices are stable, and the basis of some varieties has decreased [6] - **Monthly Data**: National and regional industrial silicon production and start - up rates have changed, and downstream product production has increased [6] - **Inventory Changes**: Factory and social inventories of industrial silicon have changed slightly, and the number of warehouse receipts has increased [6] Polysilicon - **Spot and Futures Prices**: Polysilicon spot and futures prices have increased, and the basis and spreads of some varieties have changed [8] - **Fundamental Data**: Polysilicon and silicon wafer production and import/export volumes have changed, and demand for silicon wafers has decreased [8] - **Inventory Changes**: Polysilicon and silicon wafer inventories have decreased, and the number of warehouse receipts remains unchanged [8]

| 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6月3日 | | | | 将诗语 | Z00170002 | | 玻璃相关价格及价差 | | | | | | | 品和 | 现值 | 前值 | 张跃 | 涨跌幅 | 单位 | | 华北报价 | 1180 | 1180 | 0 | 0.00% | | | 华东报价 | 1300 | 1300 | 0 | 0.00% | | | 华中报价 | 1110 | 1120 | -10 | -0.89% | | | 华南报价 | 1320 | 1320 | 0 | 0.00% | 元/吨 | | 玻璃2505 | 1096 | 1101 | -5 | -0.45% | | | 玻璃2509 | 682 | ે જેટ | -3 | -0.30% | | | 05基差 | 84 | 79 | 5 | 6.33% | | | 纯碱相关价格及价差 | | | | | | | 品种 | 现值 | 前值 | 张跃 | 涨跌幅 | 单位 | | ...