The hottest glass spot reported in the week of Apr

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Weekly report of glass spot on April 3: the terminal demand is flat, and the confidence of manufacturers is insufficient

on April 20, 2018, China's glass composite index was 1189.88 points, up -4.62 points from last week, up 112.24 points year-on-year; China's glass price index was 1217.04 points, up -4.45 points from last week, up 130.8 points year-on-year. By 2018, the effective capacity of domestic H3PO4 iron Li cathode material will reach 2 points of 300000 tons/year; China Glass confidence index was 1081.23 points, up -5.29 points from last week, up 37.92 points year-on-year. This week, the glass spot market continued to maintain a weak consolidation situation. Production enterprises mainly increased their outbound and withdrawal funds, and market quotations in some regions also loosened to a certain extent. On the whole, the confidence of production enterprises, traders and processing enterprises was slightly insufficient. The production and sales rate of manufacturers with relatively large price adjustment in the early stage is better, and the inventory of some manufacturers has been reduced month on month, while the inventory pressure of manufacturers in other regions is slightly obvious. From the perspective of terminal demand in the near future, there is no large increase expected by some glass manufacturers, which is maintained at the early level. The operating rate of glass processing enterprises is about 80%. At the same time, traders and processing enterprises are cautious about the adjustment of spot prices and are unwilling to increase inventories

the average price of white glass nationwide this weekend was 1669 yuan, up -9 yuan from last week and 180 yuan from last year. At the weekend, the capacity utilization rate of float glass was 70.45%; It rose -0.09% month on week and -1.83% year on year. The production capacity in progress was 912.84 million heavy containers, an increase of -1.2 million heavy containers from last week and -16.8 million heavy containers from last year. At the weekend, the industrial inventory was 33.27 million heavy boxes, an increase of -130000 heavy boxes from last week and -320000 heavy boxes from last year. Weekend inventory days are 13.3. If you are told that express packages are green and degradable for 0 day, it has increased by -0.03 days from last week, and 0.11 days from last year

macro level:

in 2018, the national real estate development investment was 2129.1 billion yuan, a nominal increase of 10.4% year-on-year; The housing construction area of real estate development enterprises was 6465.56 million square meters, an increase of 1.5% year-on-year; The new construction area of houses was 346.15 million square meters, an increase of 9.7%; The completed area of houses was 207.09 million square meters in 2012, a decrease of 10.1%; The land acquisition area of real estate development enterprises was 38.02 million square meters, an increase of 0.5% year-on-year; The land transaction price was 163.4 billion yuan, an increase of 20.3%; The sales area of commercial housing was 300.88 million square meters, with a year-on-year increase of 3.6%; The sales volume of commercial housing was 2559.7 billion yuan, an increase of 10.4%; At the end of March, the area of commercial housing for sale was 573.29 million square meters, a decrease of 11.38 million square meters from the end of February

the central bank official announced on April 17 that in order to guide financial institutions to increase support for small and micro enterprises, increase the stability of funds in the banking system, and optimize the liquidity structure, the RMB deposit reserve ratio of some financial institutions will be reduced by 1 percentage point from April 25, 2018; On the same day, the above banks will use the funds released by the RRR reduction to repay the medium-term lending facility (MLF) of the central bank they borrowed in the order of "borrowing first, repayment first". Although the reserve requirement reduction funds are used to replace the unexpired MLF funds, the actual release of the reserve requirement reduction funds is larger than the unexpired MLF funds. According to the calculation of the central bank, this reduction releases 400billion yuan of incremental funds! For banks, this not only reduces the cost of capital, but also further releases liquidity

from a regional perspective, Shahe region, which has a relatively large range of price adjustment in the early stage, has been relatively stable in the near future; Manufacturers in South China, East China, some Beijing Tianjin Hebei regions, and Northeast China have made some adjustments, and their confidence is poor

regional trend:

since this week, the overall weakness of the glass spot market in East China has been mainly sorted out, the production and sales of production enterprises have slightly decreased compared with last week, the prices of some manufacturers have loosened, and the market confidence is poor. On the whole, the glass processing enterprises in East China and other regions are generally under construction, which is less than expected. The operating rate of glass processing enterprises is about 80%, and the distribution is uneven. In addition, prices in North China, South China and central China have gradually loosened, as well as the increase in the entry of glass from other ports, resulting in greater pressure on local production enterprises. The recent continuous rise in the price of upstream soda ash has also brought certain pressure to glass production enterprises. Therefore, some manufacturing enterprises can only carry out 2 If the load exceeds the maximum power (such as the transmission mechanism of the hydraulic universal testing machine is faulty), the price shall be adjusted to maintain the normal payment collection level

the overall trend in South China this week is general. In order to resist the increase of glass entry from other cities, glass manufacturers have loosened their quotations. On the whole, the terminal market demand in South China is better than that in other regions, and the operating rate of processing enterprises is better. The main reason for the spot price adjustment also lies in the driving effect of the price adjustment in the northern region. This week, the spot market in Central China was dominated by weak consolidation, and the number of Shahe glass entering Hubei and other regions increased. On the whole, traders' market confidence was mainly cautious

this week, the market trend in North China has improved month on month, the delivery of production enterprises has increased, and the spot price is relatively stable. At the beginning of the week, some manufacturers increased the preferential margin on the grounds of selling wet water glass. Traders loaded actively, and the inventory of production enterprises was reduced. At one time, the production and sales rate reached about 200%. With the increase of the number of glass sold to the surrounding markets, the prices of the manufacturers in the surrounding markets have been adjusted, and the price differences between regions have decreased, causing some manufacturers to slow down the month on month delivery and return to the state of production and sales balance. On the whole, the inventory of manufacturers in Shahe area decreased to a certain extent this week compared with last week. The production enterprises in Beijing Tianjin Hebei region generally leave the warehouse, and the market confidence is slightly insufficient

aftermarket overview:

this week, the glass spot market continued to maintain a weak consolidation state, the market confidence of production enterprises and trade was insufficient, and the quotations of some manufacturers were loosened. Early production enterprises hope that the demand of the end market can increase rapidly and significantly, but the actual situation is not ideal. Therefore, production enterprises with high inventory can only increase the delivery volume through price adjustment. This has also triggered the price follow-up of other manufacturers. And the price rotation adjustment between regions. At present, the increment of terminal market demand is limited, and the differentiation between the north and the south is not very obvious. At the same time, traders and processing enterprises are not increasing their inventories under the influence of the mood of buying up but not buying down. It is expected that in the short term, the glass spot market will be dominated by weak adjustment, and the upward price will be difficult

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