9.5 | Jubo Weekly: Glass consolidates, regional destocking. Social drawdown backs futures. SH‑AL up; downstream cautious.

Float Glass｜Price Adjustment Information

9.4

• Shanxi Qingchun: Plans to cut prices by 20 RMB/ton for the Shahe region.

9.6

• Hebei Dejin: Plans to raise clear glass prices by 1 RMB/weight‑box.

• Shahe Great Wall: Plans to increase prices for all thickness specifications by 1 RMB/weight‑box.

9.7

• Shahe Jinhongyang: Plans to raise prices by 20 RMB/ton.

Float Glass｜Price Market This Wee

National Average Price of Float Glass

• This week, the major glass futures contract FG2701 trended upward amid fluctuations; spot prices consolidated within a range. On the supply side, news of one production‑line draining is pending confirmation, and the comprehensive operating rate remains stable for now. Mid‑ and downstream enterprises make rigid‑demand purchases. Producers are eager to ship goods with some bid adjustments up and down. Overall trading improved compared with the prior period, and inventories decreased in multiple regions. The float‑glass spot market is expected to run steadily with minor swings in the short term.

• Glass inventories declined slowly this week. Total inventory of sampled national float‑glass producers stood at 73.675 million weight boxes, down 0.374 million weight boxes week‑on‑week (-0.5%), and up 16.85% year‑on‑year.

Average Prices of Float Glass by Region

• North China：Some manufacturers have adjusted their pricing; market sentiment has improved, and overall production and sales have increased significantly compared to previous periods; meanwhile, inventories in North China have declined slightly.

• East China：Mid-and downstream demand remains moderate; manufacturers demonstrate strong shipment intentions; market prices are declining slightly; overall transaction volumes are acceptable.

• Central China：Market prices have not shown any significant fluctuations; corporate procurement remains primarily driven by essential demand, while transaction volumes in the Central China region have been moderate.

  
  

• South China：Corporate procurement sentiment remains cautious; transactions between buyers and sellers are relatively flexible; the market is generally stable with minor fluctuations.

• Northeast China：The demand-side procurement situation remains favorable, supporting some manufacturers in raising their quotes and driving overall inventory drawdown.

• Southwest China：Corporate procurement sentiment remains cautious; transactions between buyers and sellers are relatively flexible; the market is generally stable with minor fluctuations.

• Northwest China：Weak end-user demand is putting increasing pressure on manufacturers' shipping volumes.

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 prices edged higher narrowly this week and trading picked up. Two kilns entered cold repair, cutting total output, while some downstream buyers made moderate stock builds. More cold‑repair projects may roll out gradually; the PV‑glass market is projected to fluctuate in the near term.

Soda Ash｜Unit Dynamics This Week

Xuzhou Fengcheng, Hangzhou Longshan, Jiangxi Jinghao, Henan Junhua and Boyuan Yingen reduced load operations; Jiangxi Jinghao, Jiangsu Huachang and Southern Soda resumed production.

Soda Ash｜Price Market This Week

Light Soda Ash Prices by Regions

Heavy Soda Ash Prices by Region

• Domestic soda‑ash operating rate reached 75.47% this week, down 4.97% week‑on‑week from 80.44%. Output totalled 718,800 tons, a week‑on‑week drop of 47,400 tons (-6.18%). Total producer inventory stood at 1.9113 million tons, rising 38,600 tons week‑on‑week (+2.06%).

• The soda‑ash market trended strong with fluctuations. Light‑soda‑ash quotations increased in parts of the country, lifting transaction benchmarks. Fundamentals showed weak supply alongside weak demand: output stayed low while downstream buying was subdued, capping price gains. Prices are expected to stay stable with minor swings shortly.

Fuel｜Petroleum Coke & LNG

National Average Price of Petroleum Coke

• Domestic petroleum‑coke prices fluctuated with sharp regional divergence.

• Major refineries moved low‑sulphur coke smoothly with low inventories and held firm on prices. Independent refineries carried medium‑sulphur coke at moderate stock levels, while high‑sulphur fuel‑coke focused on destocking amid prior inventory pressure.

• Tight supply of high‑quality low‑sulphur coke will persist in the short run. Large‑scale downstream restocking is absent; petroleum‑coke prices are likely to range‑bound.

National Average Price of LNG

• Out of 133 domestic LNG plants, 70 underwent maintenance / shutdown / reporting suspension / domestic‑only sales, yielding an external operating rate of 47%.

• Domestic LNG prices swung narrowly with muted turnover. Individual unit disruptions trimmed total supply slightly. Downstream demand stayed soft and consumption fell short of expectations. Some producers cut offers to boost sales, keeping regional gaps. Given sluggish end‑user demand, the LNG market is forecast to weaken with fluctuations.

Aluminum｜Aluminum Ingot

• Domestic spot prices strengthened with volatility and trading diverged across regions among mixed‑sentiment participants. Spot prices climbed several times this week, triggering widespread price‑aversion and pressure on key markets; enterprises purchased only for rigid needs. Toward weekend, holders were keener to sell, pushing processing fees lower.

Aluminum｜Aluminum Profile

• According to SMM, domestic social inventory of primary aluminum stood at 789,000 tons, down 32,000 tons week‑on‑week.

• Domestic aluminum futures posted strong weekly gains and spot prices followed suit. Downstream hesitated to chase higher prices, resulting in mediocre turnover without large‑scale restocking. Falling industry inventories underpin prices; the domestic aluminum spot market is expected to remain firm in the short term.