Guoxin Futures: Short-term fluctuations in glass are the main trend

The main contract price of glass fell 0.76% compared to the previous trading day, closing at 1,055 yuan/ton. On the supply side, the daily melting volume of glass was 148.6k tons, an increase of 6,500 tons from the previous period. In terms of production profit, the weekly average profit of float glass fueled by natural gas was -142.26 yuan/ton, up 24.29 yuan/ton week-on-week; the weekly average profit of float glass fueled by coal gas was -30.79 yuan/ton, down 1.92 yuan/ton week-on-week; the weekly average profit of float glass fueled by petroleum coke was 43.93 yuan/ton, unchanged from the previous period. On the demand side, the weekly LOW-E glass operating rate declined week-on-week, and enterprise order days decreased week-on-week. The total inventory of sample enterprises for float glass nationwide was 148.6k heavy boxes, an increase of 600 heavy boxes from the previous period, up 37.32% week-on-week and 13.22% year-on-year. The inventory days stood at 33.8 days, an increase of 9.4 days from the previous period. The glass fundamentals are relatively weak, with short-term prices mainly fluctuating at low levels. (Guoxin Futures)