SunSirs: China Glass Prices Continued to Rise last Week (August 3-7)

According to the monitoring of SunSirs, the overall price of glass increased last week, with an average price of 19.98 RMB/ ㎡at the beginning of the week and 20.95 RMB/ ㎡ at the end of the week. The price rose by 4.85% during the week.

According to the industry association data, on August 7, 2020, the glass capacity utilization rate was 68.46%; the month on month increase was -0.04% compared with last week, and -0.94% higher than last year; after excluding excess capacity, the glass capacity utilization rate was 81.26%, up -0.05% month on month, and -1.61% year-on-year. The glass production capacity was 932.82 million heavy boxes, an increase of -600,000 heavy boxes compared with last week, and an increase of 6.72 million heavy boxes compared with last year. On August 7, 2020, the industry's inventory was 4.49 million heavy boxes, an increase of -1.45 million heavy boxes compared with last week, and an increase of 4.82 million heavy boxes compared with last year. Weekend inventory days were 17.60 days, an increase of -0.56 days compared with last week, and a year-on-year increase of 1.77 days.

As for raw material soda ash, as of August 6, the price of soda ash in North China has been stable temporarily. The mainstream market price of light soda ash is about 1,350-1,420 RMB/ ton, and that of heavy soda ash is 1,550-1,650 RMB/ ton. The market atmosphere is light, the downstream market is mainly purchased on demand, and the inventory pressure is high. It is expected that the price of soda ash will be stable in the short term. The price of soda ash in East China is stable temporarily. The mainstream market price of light soda ash is about 1,200-1,350 RMB/ ton, and that of heavy soda is 1,400-1,600 RMB/ ton. The market trading is light, the downstream market is mainly purchased on demand, and the inventory pressure is high. It is expected that the price of soda ash will be stable in the short term. In terms of petroleum coke, according to the monitoring by SunSirs, the average price of petroleum coke at the weekend in Shandong was 1,250 RMB/ ton. Shandong local refining petroleum coke shipment is general, mainly wait-and-see operation, it is expected that petroleum coke will fluctuate slightly in the near future.

Market Forecast

According to SunSirs, last week's glass is better than expected, and the price is rising rapidly. Downstream traders and glass processing enterprises have high enthusiasm for taking goods, and the order situation is fair. In the short term, there is no pressure on the inventory of production enterprises, and the glass price still increases slightly when the traditional peak season comes.

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