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中期市场仍由基本面主导 玻璃向下趋势或难改
Jin Tou Wang· 2025-11-26 07:09
Core Viewpoint - The domestic futures market for the energy and chemical sector shows mixed performance, with glass futures experiencing a significant increase in price, indicating potential bullish sentiment in the market [1] Supply - Hubei Yijun's 900T/D production line has halted operations, while Guizhou Kairong's 600T/D float glass line has switched production to European gray glass. Some production lines are expected to halt or change color from the end of this month to early next month [1] Demand - New Lake Futures reports an increase in purchasing sentiment in Shahe over the weekend, with other regions primarily focusing on just-in-time sales. The overall market sentiment has led to many regions achieving over 100% sales. In mid-November, the order days for deep processing were reported at 9.9 days, a decrease of 8.9% month-on-month. However, there has been a slight improvement in orders in East China, with an average of 6.2 days, an increase of 0.3 days [1] Inventory - According to Shenwan Hongyuan Futures, the inventory of glass production enterprises reached 60.05 million heavy boxes last week, an increase of 430,000 heavy boxes compared to the previous week [1] Market Outlook - Jianxin Futures indicates that current glass price valuations are relatively low, suggesting limited space for further declines. The medium-term market direction will continue to be driven by fundamentals, and without new market expectations to stimulate demand, a downward trend in prices is likely to persist [1]