SunSirs: China Glass Spot Market Price Continued to Weaken Last Week (November 3-10)

According to the Commodity Analysis System of SunSirs, the spot market price of glass continued to weaken last week, with an average price of 22.63 RMB/square meter last Friday. The price decreased by 1.23% during the week.

Last week, the spot market price of glass continued to weaken, and the overall industry production and sales situation in the market was still good. The outbound situation of enterprises was better than last week. From a regional perspective, the trading situation of the glass spot market in Shahe, North China is still good, with manufacturers mainly relying on flexible shipping, and enterprise inventory has decreased. The market trading situation in the East China region is relatively good, with downstream demand for goods and a decrease in enterprise inventory. The overall production and sales in the central region of China are average, and the enthusiasm for downstream procurement is average. The inventory of manufacturers has increased. The production and sales situation of glass in South China is still good, and the middle and downstream markets are just in need of restocking, and the inventory of enterprises has slightly increased. The glass market in the southwest and northwest regions is average, and enterprise inventory has slightly increased. Affected by climate, the market situation in Northeast China has weakened and inventory has increased.

According to the Commodity Analysis System of SunSirs, the price of soda ash significantly decreased last week. On November 3rd, the average price of light soda ash in China was 2,290 RMB/ton, while on November 10th, the average price was 2,060 RMB/ton. The price was reduced by 10.04%. SunSirs soda ash analysts believe that the price of soda ash is weak. Individual enterprises undergo maintenance, but the overall supply fluctuation is not significant. The overall trading atmosphere is average, and the downstream of soda ash is replenished according to demand. Insiders have a strong bearish attitude towards the future market, and the supply-demand game is expected to be dominated by weak consolidation of soda ash prices in the later stage, depending on the downstream market demand.

In terms of liquefied natural gas, according to the Commodity Market Analysis System of SunSirs, the price of liquefied natural gas in China increased slightly last week. As of November 10th, the average price of liquefied natural gas in China was 4,860 RMB/ton, which is 0.62% higher than the average price of 4,830 RMB/ton on November 6th. Liquefied natural gas analysts from SunSirs believe that the recent decrease in raw gas prices has weakened cost support. The inventory in the liquefied natural gas market needs to be digested, and the industry is mostly stable and wait-and-see. Expected short-term consolidation of liquefied natural gas prices.

According to SunSirs, spot prices in the glass market continued to decline last week. The price of upstream soda ash has decreased significantly, while the price of liquefied natural gas has slightly increased. Overall, cost support has weakened. In terms of demand, midstream and downstream processing enterprises mainly need to replenish goods, and the delivery situation is average. It is expected that in the short term, the confidence in the glass spot market will be insufficient, and the focus of transactions will be weak.

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