SunSirs: China Glass Spot Market Prices Fell in November

According to the Commodity Analysis System of SunSirs, the spot market price of glass has fallen this month. On November 1st, the average price of glass was 23.09 RMB/square meter. As of the end of November 30th, the average price was 21.67 RMB/square meter. During the month, the price decreased by 6.15%.

The spot market price of glass fell in November. In early November, the spot market price of glass weakened, and the overall industry production and sales situation in the market was still good. In mid month, the spot market price of glass continued to weaken, and the market price decreased. The overall outbound situation was better than in the first ten days. In the latter half of the year, the overall production and sales situation of the glass industry was average, with market prices falling again and transactions being flexible. The situation of destocking was more obvious, and overall, except for Northeast China, the inventory of enterprises showed a downward trend.

On November 15th, data released by the National Bureau of Statistics showed that the production of flat glass in October was 82.56 million weight boxes, a year-on-year decrease of 1.0%. From January to October, the cumulative production of flat glass reached 795.92 million weight boxes, a year-on-year decrease of 7.6%.

In terms of caustic soda, according to monitoring data from SunSirs, the price of caustic soda first fell and then rose in November, with an overall price increase. The average market price of light soda ash at the beginning of the month was 2,460 RMB/ton, and the average market price at the end of the month was around 2,500 RMB/ton, with a price increase of 1.63%. Analysts from SunSirs believe that the domestic production of caustic soda has slightly decreased, downstream demand is still acceptable, and orders from alkali plants have increased. Overall, it is expected that the caustic soda market will remain strong.

In terms of liquefied natural gas, according to the commodity market analysis system of SunSirs, as of November 30th, the average price of liquefied natural gas in China was 6646 RMB/ton, which is 5,140 RMB/ton compared to the average price on November 1st. The increase in domestic liquefied natural gas prices this month was 29.30%. Liquefied natural gas analysts from SunSirs believe that the recent cold weather has led to a reduction in supply under gas restriction policies, coupled with an increase in raw gas prices. Under the combination of positive factors, the domestic liquefied natural gas market continues to rise. It is expected that domestic liquefied natural gas will continue to operate strongly in the short term, but the recent high growth rate has limited downstream delivery capacity, and caution is still needed.

According to SunSirs, the spot market price of glass is expected to decrease this month. Upstream caustic soda first fell and then rose, while domestic liquefied natural gas prices rose, and cost support is still acceptable. But currently, downstream traders and processing enterprises have average enthusiasm for purchasing goods, and the market is mostly wait-and-see, buying on dips. It is expected that in the short term, the spot market prices of glass will be weakly consolidating, and it is recommended to temporarily focus on observation.

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