8.1 | Jubo Weekly: One glass line offline; glass spot weak, inventories rise. Al destocking lifts futures & spot, curbs buying.

Float Glass｜Price Adjustment Information

7.31

• Taiwan Glass Xianyang: Plans to raise prices by 1 RMB/weight box.

Float Glass｜Production Line Dynamics This Week

7.30

• Shanxi Qingchun Licheng Line 1 (designed capacity: 600 tons/day): Feeding halted.

Float Glass｜Price Market This Wee

National Average Price of Float Glass

• The main glass futures contract FG2609 fluctuated weakly this week. Spot prices fell successively across many regions, and the overall transaction center kept sliding. On the supply side, one production line was shut down, bringing a mild decline in the comprehensive operating rate. Shipments remained under pressure in numerous regions. Most manufacturers cut quotations while some raised offers to test market sentiment. Overall trading failed to improve, and inventory accumulation persisted in the industry. 

  Fundamentals remain in a supply surplus. Float glass spot prices are expected to see narrow adjustments in the short run.

  
  

• The glass industry registered mild inventory accumulation this week. Total inventories of sampled national float glass manufacturers stood at 75.353 million weight boxes, up 63,000 weight boxes week-on-week, a week-on-week rise of 0.08% and a year-on-year increase of 26.65%.

Average Prices of Float Glass by Region

• North China：Downstream purchasing sentiment is sluggish. Both large and small glass panels in Shahe see price cuts. Production and sales stay muted with obvious inventory accumulation.

• East China：Producers actively destock. Affected by external supplies, prices fall in many regions, while overall trading remains decent.

• Central China：Some manufacturers cut prices to boost shipments, overall transaction prices slide, and downstream purchasing remains sluggish.

  
  

• South China：Manufacturers show divergent shipment strategies; some raise offers to spur purchases, with overall destocking ongoing.

• Northeast China：Trading varies across regions; market sentiment remains tepid, and overall prices stabilize.

• Southwest China：Downstream restocking proceeds steadily. Manufacturers’ quotations see no notable swings, and the market remains weak.

• Northwest China：Local demand is limited. Manufacturers keep transporting goods out and sell flexibly, leading to continuous market destocking.

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 stayed weak this week with no notable fluctuations on the supply side for production lines. Some manufacturers adopt flexible sales policies, and downstream buyers only place rigid-demand orders. More production lines may commence hot repair successively later. PV glass prices are projected to remain stable in the short term.

Soda Ash｜Unit Dynamics This Week

Equipment operations fluctuate at Hubei Shuanghuan and Inner Mongolia Boyuan Yingen Chemical. Lianyungang Soda Ash in Jiangsu boosts operating load.

Henan Junhua, Jiangsu Huachang and Gansu Ammonia Soda Source plan maintenance in August.

Soda Ash｜Price Market This Week

Light Soda Ash Prices by Regions

Heavy Soda Ash Prices by Region

• The operating rate of domestic soda ash plants reached 80.68% this week, rising 0.73% from last week’s 79.95%. Soda ash output hit 768,500 tons, up 7,000 tons or 0.92% week-on-week. Total inventories at soda ash manufacturers reached 1.8007 million tons, increasing 19,400 tons or 1.09% week-on-week.

• The domestic soda ash market maintained a weak trend this week. Some manufacturers flexibly lowered offers, and prices of light and dense soda ash fell across many regions with lower overall transaction levels. Pending orders at factories shrank during the week, leading to slight inventory accumulation. Downstream purchasing willingness remains poor, and soda ash prices are expected to trend down amid volatility shortly.

Fuel｜Petroleum Coke & LNG

National Average Price of Petroleum Coke

• Domestic petroleum coke prices trended upward with fluctuations this week, and overall trading improved from weakness.

• For state-owned refineries, regional shipments go smoothly and most manufacturers keep quotations steady. Independent refineries see divergent regional trading with mixed price movements. Market activity picked up in the second half of the week.

• The national coking operating rate fluctuates within a narrow range, supported by rigid demand. Petroleum coke prices are expected to fluctuate within a range in the near term.

National Average Price of LNG

• Among 133 domestic LNG plants, 67 are under maintenance, suspended, stop quoting or supply for internal use. The overall external operating rate stands at 50%.

• Domestic LNG prices fell first then rose this week. Raw gas auction results lifted market sentiment. Trading remained dull in the first half of the week amid weak downstream buying and poor factory shipments. In the second half, reduced supply and higher prices in raw gas auctions greatly strengthened manufacturers’ willingness to hold prices. Overall demand is weak, and domestic LNG prices will keep fluctuating in the short run.

Aluminum｜Aluminum Ingot

• Domestic spot prices surged then fell with divergent shipment performance across regions. In Foshan, trading weakened as the weekend approached. Merchants failed to prop up prices, and processing fees rose before retreating. The East China market remained weak with ample goods circulation.

Aluminum｜Aluminum Profile

• According to SMM statistics, domestic electrolytic aluminum social inventories stand at 931,000 tons, down 52,000 tons week-on-week.

• Domestic aluminum futures fluctuated widely, while spot prices trended upward amid swings. The consumption off-season persists. Terminal manufacturers operate at low capacity with strong wait-and-see sentiment and sluggish overall trading. No positive fundamental catalysts emerge for now. Domestic aluminum prices are expected to run relatively strongly in the short term.