6月28日丨聚玻玻璃期现周评（第64期）：期货窄幅震荡反弹乏力，现货稳中下行，玻璃整体弱势格局延续。

一周玻璃期现价格走势（6.22~6.26）

Weekly Trend of Glass Futures and Spot Prices (June 22 - June 26)

本周玻璃期货价格窄幅震荡，周内FGM玻璃主连价格下降8元/吨。

Glass futures fluctuated in a narrow range this week, with the FGM continuous glass contract down 8 RMB per ton over the week.

本周玻璃现货价格稳中走弱，全国市场均价环比下降8元/吨。

Spot glass prices weakened slightly amid stability this week, with the national average price falling by RMB 8 per ton week-on-week.

一周玻璃期现行情分析

Weekly Analysis of Glass Futures and Spot Market

• 基本面 Fundamentals

供应端：本周供应端四产线放水、量产线引板，一产线点火，综合开工率仍有下行，整体产量小幅缩减。本周多地区库存均有不同程度上涨，整体库存环比增加0.59%，行业累库态势难改。

Supply side: Four glass lines drained water, two lines started drawing and one line was ignited this week. The overall operating rate slipped, cutting total output slightly. Inventories rose across most regions, climbing 0.59% week-on-week, and inventory accumulation in the industry will persist.

需求端：本周下游需求恢复有限，厂家调整报价、积极出货，整体产销难有明显改善，玻璃现货价格稳中波动。

Demand side: Downstream demand recovered modestly this week. Producers adjusted quotations to boost shipments, yet overall sales-output balance saw little improvement, leaving spot glass prices fluctuating at a steady level.

• 技术面 Technical aspect

本周玻璃主力合约区间震荡、反弹无力，其中最高价985，最低价958。

The main glass futures contract traded sideways with weak rebound momentum this week, hitting a high of 985 and a low of 958.

Technically, the K-line forms a low-range sideways doji with weak rebound resistance. The short-term 5-, 10- and 20-day moving averages slant downward in tandem, forming a typical bearish structure.The medium-to-long-term 60-day moving average keeps falling with no shift in the medium-term downtrend. Short-term bounces are merely oversold corrections lacking grounds for trend reversal. While the bearish pattern of low volume on rallies and heavy volume on dips has eased slightly, no bullish confirmation via sharp rises on surging volume has emerged, pointing to strong sideways consolidation.

• 后市展望 Market Outlook

基本面上，梅雨淡季市场需求无明显改善，行业累库态势延续，库存维持高位，部分厂家仍有让利出货。

Fundamentally, market demand saw no notable improvement amid the rainy off-season. Inventory accumulation persisted at high levels across the industry, with some manufacturers offering price discounts to boost shipments.

Technically, the market will consolidate at a low range in the short term. Medium-term moving averages remain in a bearish alignment. Oscillatory corrections cannot reverse the overall weak long-term trend. If prices surge on volume to hold above 983 and break through the 10-day moving average, there will be momentum for a rebound toward the 1000 level; otherwise, prices will face selling pressure and retreat on rallies.

声明：市场有风险，决策请独立审慎。本文所涉数据信息均源自网络公开信息，观点仅限行业探讨不构成投资建议，不承担据此操作引发的任何责任。

Disclaimer: Market investment carries risks. Please make independent and prudent decisions. All data and information herein are sourced from public online materials. The opinions are only for industry discussion and do not constitute investment advice. We assume no liability for any actions taken based on this content.

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