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SunSirs: Destocking, China Glass Spot Market Price Down in November
December 05 2022 13:37:06SunSirs(Selena)

According to the monitoring of SunSirs, the glass price fell this month. At the beginning of the month, the average price of glass was 19.73 RMB/square meter, and at the end of the month, the average price was 18.5 RMB square meter. The price decreased within the month by 6.23%.

On the whole, the spot price of glass market fell in November. The glass market fell rapidly in the first half of the month. In some areas, the transportation is blocked, the glass shipment is weakened, and in winter, affected by weather factors, the processing enterprises in northern areas shut down earlier than expected, the overall delivery of the spot market is poor, and the market price is declining. In the southern region, the market price is average. After the market price is lowered, the shipment situation is improved and the inventory is reduced. In the second half of the month, the market was relatively stable and weak. The market transaction is relatively flexible, traders and downstream customers are generally motivated to replenish goods, and they will wait and see later. On the whole, the glass is still at a high level. Up to now, the market quotation in Shahe area is between 18.1 RMB/square meter and 18.9 RMB/square meter. At present, the manufacturer's production and sales situation is weak, and the shipment is flexible. Downstream customers can replenish as needed.

According to the data of the National Bureau of Statistics, from January to October 2022, the cumulative output of flat glass in China was 851 million heavy boxes, a year-on-year decrease of 3.4%, with a decrease of 0.2 percentage points. The output of flat glass in October was 82.49 million heavy boxes, a year-on-year decrease of 3.4%.

In terms of soda ash, according to the monitoring data of SunSirs, the price of soda ash decreased slightly this month. The average market price of light soda ash at the beginning of the month was about 2,650 RMB/ton, and the average market price at the end of the month was about 2,638 RMB/ton, down 0.45%. The price is large, stable, small and dynamic. There is no overhaul plan for soda ash plants, and the supply is relatively stable as a whole. At present, downstream glass still mainly purchases soda ash on demand, and the buyer and seller play games, with the price under pressure. The overall trading atmosphere of soda ash is general, and it is estimated that the short-term price of soda ash will still be dominated by narrow range finishing operation.

In terms of LNG, according to the data monitoring of SunSirs, as of November 30, the average price of domestic LNG was 4,514 RMB/ton, compared with the average price of 5,450 RMB/ton on November 1, and the domestic LNG price fell by 17.17% this month. Liquefied natural gas analysts from SunSirs believe that: at present, the feed gas market has risen, and the cost of the liquid plant has increased. In recent days, the domestic weather has cooled down, and the demand for natural gas is expected to recover. Most liquid plants are still in high prices. It is expected that the market price of liquefied natural gas will continue to rise in the short term.

According to the prediction of SunSirs, the glass spot market entered the off-season this month, with price reduction and stock removal as the main factor, and the market price was flexible. The temperature in the north has not decreased significantly, and the demand for glass is weak. In the southern region, the market price is average, and most purchases are made on demand. The recently issued real estate support policy still needs time. On the whole, demand is difficult to improve, and inventory pressure is high. It is expected that the glass spot market will be more wait-and-see in the short term, with the market mainly operating in a weak and stable manner, and there is no lack of possibility of a small downward adjustment.

 

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