8.8 | Jubo Weekly: One float line revised, glass mild destocking; high heat weakens Al demand, SHFE Al pressured high.

Float Glass｜Price Adjustment Information

8.7

• Shandong Jurun: Plans a price cut of RMB 20 per ton.

• Zhejiang Kibing: Plans a price hike of RMB 20 per ton.

8.10

• Kibing (Zhangzhou & Heyuan Bases): Clear glass & crystal grey glass to rise by RMB 20 per ton.

• Mingxuan Glass: Plans a price hike of RMB 20 per ton.

Float Glass｜Production Line Dynamics This Week

8.3

• Line 1 of Hebei CSG (designed capacity: 600 tons/day): Converted from ultra-white glass to clear glass.

Float Glass｜Price Market This Wee

National Average Price of Float Glass

• The main glass futures contract FG2609 edged up slowly this week. Spot trading improved notably compared with earlier periods, and the spot market stayed consolidated. On the supply side, one production lines underwent product conversion, leading to narrow swings in the overall operating rate. Manufacturers held divergent attitudes across regions; some adjusted quotations up or down to boost shipments, lifting corporate purchasing sentiment. Production and sales stayed above balance, and industrial inventory declined slightly. With weak fundamental demand, the glass spot market is projected to fluctuate steadily shortly.

• Slight destocking was seen this week. Total inventory of sampled national float glass enterprises stood at 74.898 million weight boxes, down 0.6% week-on-week (a reduction of 455,000 weight boxes), and up 21.1% year-on-year.

Average Prices of Float Glass by Region

• North China：Some manufacturers offer discounts to boost shipments. Prices of large and small glass sheets in Shahe trend downward amid volatility. Shipments vary across regions, and inventory is accumulating on the whole.

• East China：The market is eager to destock. Quotations from manufacturers in Zhejiang and Shandong fluctuate up and down, and regional trading is active.

• Central China：Production and sales remain roughly balanced. Factory prices stay stable, and downstream buyers only make rigid demand purchases.

  
  

• South China：Most local manufacturers slightly raise quotations. Midstream and downstream enterprises conduct periodic restocking, and overall inventory keeps declining.

• Northeast China：Factory quotations turn up after previous declines. Downstream purchasing sentiment improves moderately, and overall trading is acceptable.

• Southwest China：The market runs steadily. Some factories deliver goods to outside areas, and overall inventory continues to drop.

• Northwest China：Trading is mediocre. Individual factories cut prices, and total inventory edges up mildly.

PV Glass｜Price Market This Week

Average Prices of 3.2mm Photovoltaic Glass by Region

Average Prices of 2.0mm Photovoltaic Glass by Region

• Domestic PV glass spot market fluctuated steadily this week. Dwindling supply triggered mild price hikes at the month start, yet downstream purchasing enthusiasm remained low, slowing factory shipments and pushing inventory higher. Characterized by weak supply and demand, PV glass prices are expected to see minor fluctuations on a stable footing in the short run.

Soda Ash｜Unit Dynamics This Week

Maintenance ongoing at plants of Lianyungang Debang, Jiangsu Shilian, Gansu Jinchang, Nanfang Soda Industry and Jiangxi Jinghao; Phase 3 of Zhongyuan Chemistry resumed production after suspension.

Soda Ash｜Price Market This Week

Light Soda Ash Prices by Regions

Heavy Soda Ash Prices by Region

• The weekly domestic soda ash operating rate reached 78.37%, rising 2.23% from last week’s 80.68%. Weekly output hit 746,400 tons, dropping 28,700 tons or 2.87% week-on-week. Total factory inventory stood at 1.8495 million tons, up 48,800 tons or 2.71% week-on-week.

• The soda ash market trended weakly with fluctuations; light soda ash prices dipped in most regions, dragging the overall transaction center lower. Market sentiment stayed cautious, and enterprises only made small purchases on dips. Inventory accumulation persisted, while pending orders edged up moderately. The soda ash market is set to remain weak in the near term.

Fuel｜Petroleum Coke & LNG

National Average Price of Petroleum Coke

• Domestic petroleum coke prices first fell then rose this week, alongside improved overall trading.

• Major refineries mostly kept quotations stable with partial fine-tuning, paired with decent downstream procurement. Independent refineries saw mixed coke prices and sound shipments in partial areas.

• Several manufacturers plan further price hikes, pointing to volatile petroleum coke prices shortly.

National Average Price of LNG

• Among 133 domestic LNG plants, 65 are under maintenance, suspended production, suspended quotation or for internal sales only, with the overall external operating rate at 51%.

• LNG prices adjusted narrowly this week amid tepid trading. Supported by costs, prices rose broadly at the week start on strong bullish sentiment, while rigid demand and growing aversion to high prices restrained buying. Later, limited downstream digestion forced some factories to slash offers. With oversupply fundamentals, the LNG market will stay weak and volatile recently.

Aluminum｜Aluminum Ingot

• Domestic aluminum spot prices trended upward with acceptable trading. Foshan maintained continuous destocking; suppliers held firm prices amid tight supply circulation. East China stabilized, with suppliers controlling shipments to prop prices and downstream buying rigid demand only.

Aluminum｜Aluminum Profile

• According to SMM statistics, China's social inventory of electrolytic aluminum stands at 920,000 tons, down 11,000 tons month-on-month.

• China's aluminum futures dipped first then climbed amid fluctuations; spot prices saw wide adjustments, while overall trading remained sluggish. For aluminum billets, processing fees of holders fluctuated within a narrow range with mediocre trading. For aluminum rods, downstream purchases were mainly rigid demand-based. Domestic aluminum prices are projected to fluctuate in the short term.