SunSirs: China Glass Spot Market Fluctuated in January

According to the commodity analysis system of SunSirs, the glass spot market fluctuated in January, and overall, prices slightly increased. On January 1st, the average price of glass was 22.2 RMB/square meter, and as of the end of January 31st, the average price was 22.27 RMB/square meter. During the month, the price increased by 0.32%.

The glass spot market fluctuated in January, with overall prices slightly increasing. In the first half of the year, spot prices in the glass market first rose and then fell, with downstream factories continuing to rush, and processing enterprises in the middle and lower reaches mainly replenishing goods in demand, with active trading. In the middle of the month, glass processing enterprises in the middle and lower reaches mainly need to replenish goods, and the trading situation is relatively average. The spot market price of glass is relatively flexible. In the latter half of the year, the overall production and sales situation of the glass industry was average, and downstream processing enterprises began to take vacations one after another. Some enterprises began to stock up, and the glass market prices slightly increased. As of now, the market quotation in the Shahe area is around 21.6 RMB/square meter to 21.9 RMB/square meter.

In December 2023, the national production of flat glass was 84.99 million weight boxes, a year-on-year increase of 5.7%. From January to December 2023, the national production of flat glass reached 96.9418 million weight boxes, a year-on-year decrease of 3.9%.

In terms of caustic soda, according to monitoring data from SunSirs, the price of caustic soda fell in January. The average market price of light soda ash at the beginning of the month was 2,790 RMB/ton, and the average market price at the end of the month was around 2,370 RMB/ton, with a price increase of 15.05%. SunSirs analysts believe that domestic soda ash prices declined in January. Overall, the price of soda ash is operating weakly, with average downstream demand and less active procurement. It is expected that soda ash will stabilize and fluctuate in the future, depending on the downstream market demand.

In terms of liquefied natural gas, according to the commodity market analysis system of SunSirs, as of January 30th, the average price of liquefied natural gas in China was 5,664 RMB/ton, which is 5,510 RMB/ton compared to the average price on January 1st. The increase in domestic liquefied natural gas prices this month was 2.79%. Liquefied natural gas analysts from SunSirs believe that in recent days, the domestic weather has cooled significantly, and liquid prices have continued to rise. It is expected that snowfall in Northeast China is approaching today, and the bidding price of raw gas will be slightly adjusted today. It is expected that there is still room for domestic liquefied natural gas prices to rise, with limited growth.

According to SunSirs, the glass spot market is expected to fluctuate this month. The price of upstream soda ash has fallen, while the price of domestic liquefied natural gas has risen, with average cost support. At present, downstream processing enterprises are gradually taking holidays. Some large processing enterprises mainly replenish inventory at the end of the year, and the market transaction situation is still acceptable. It is expected that the spot market price of glass will remain stable with minor fluctuations in the short term.

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