9.12 | Jubo Weekly: Two float lines drawn; glass spot up, inventories down. Al rallies then fades, downstream buys little.

Float Glass｜Price Adjustment Information

9.11

• Shahe Zhengda: Plans to raise ex-factory price of small sheets by 20 RMB/ton.

• Shahe Dingjin: Plans to raise ex-factory price by 20 RMB/ton.

9.14

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

Float Glass｜Production Line Dynamics This Week

9.4

• Nanning Float Glass Line 1 (designed capacity: 900 tpd) shut down after furnace draining.

9.9

• Shanxi Qingchun Line 2 (designed capacity: 600 tpd) started ribbon drawing.

• Tianjin Yaopi Line 2 (designed capacity: 600 tpd) started ribbon drawing.

Float Glass｜Price Market This Wee

National Average Price of Float Glass

• The main glass futures contract FG2701 trended down amid fluctuations this week, while spot prices kept rising. On the supply side, one line halted production and two lines initiated ribbon drawing, lifting total output slightly. Widespread price-hike sentiment pushed regional quotations higher to varying degrees, stimulating downstream purchasing. Production & sales stayed above balance with accelerated inventory destocking. The float glass spot market is expected to consolidate in the short term.

• Inventory destocking proceeded well this week. Total inventory of sampled national float glass enterprises stood at 70.78 million weight boxes, down 2.895 million weight boxes or 3.93% month-on-month, up 14.93% year-on-year.

Average Prices of Float Glass by Region

• North China：Shahe manufacturers lifted quotations across the board; downstream purchasing was active with sound production and sales.

• East China：Price-hike sentiment prevailed. Prices rose in Zhejiang and Shandong, lifting trading benchmarks.

• Central China：Market ran strongly; most producers enjoyed good shipments with successive quotation increases.

  
  

• South China：Reduced local supply plus price hikes prompted moderate restocking, turning inventory accumulation into destocking.

• Northeast China：Trading remained solid with mild price gains, though downstream buying slowed.

• Southwest China：Shipments varied by region. Some producers in Guizhou and Sichuan tested higher prices, inventories edged down slightly.

• Northwest China：Demand was limited; manufacturers adopted flexible shipment strategies and the market stayed stable.

PV Glass｜Production Line Dynamics  This Week

9.6

• Fujian Xinfuxing furnace (designed capacity: 650 tpd) shut down.

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 showed no obvious movement this week with mediocre trading. One furnace was shut down on the supply side, trimming total output moderately. Planned capacity cuts have paused temporarily; supply and demand remain in a tug-of-war. PV glass market is projected to stay broadly stable with minor fluctuations shortly.

Soda Ash｜Unit Dynamics This Week

Boyuan Yingen operates at low load; Jiangsu Jingshen, Chongqing Xiangyu and Hubei plants cut loads. Henan Jinshan, Gansu Jinchang and Hubei Shuanghuan slightly raise operating loads.

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 was 71.69% this week, dropping 3.78% from 75.47% last week. Soda ash output reached 682,800 tons, down 36,000 tons or 5.01% week-on-week. Total inventory of soda ash manufacturers hit 1.9311 million tons, rising 19,800 tons or 1.04% week-on-week.

• Soda ash market consolidated steadily this week. Light and heavy soda ash prices fluctuated in some regions, and overall trading was sluggish. Demand weakened slightly; manufacturers faced shipment pressure as inventories edged up at high levels. Soda ash prices are likely to fluctuate narrowly in the short run.

Fuel｜Petroleum Coke & LNG

National Average Price of Petroleum Coke

• Domestic petroleum coke trading diverged sharply this week with mixed price adjustments.

• Output changes varied across units, and downstream demand differed by specification. Major refineries generally shipped smoothly with partial price tweaks; local refineries saw uneven shipment pace, and some offered discounts.

• Downstream rigid demand persists, yet buying enthusiasm for price increases is weak. Petroleum coke prices are expected to fluctuate weakly.

National Average Price of LNG

• Among 133 domestic LNG plants, 69 were under maintenance, shut down, suspended reporting or for internal sales, with an overall external operating rate of 48%.

• Domestic LNG prices rose first then fell this week, and trading turned weak. Early in the week, plant maintenance and controlled upstream inventory boosted bullish sentiment. Later, buyers resisted high prices and purchasing slowed, leading to dull trades and price pressure. The LNG market is forecast to remain weak recently.

Aluminum｜Aluminum Ingot

• Aluminum ingot prices advanced then retreated sharply after hitting highs this week. Foshan spot outperformed Wuxi. Inventories kept falling in the early phase before new arrivals increased later. Downstream only purchased for rigid demand and was reluctant to restock at high prices. Traders bought discounted cargo opportunistically; holders adjusted quotations frequently following futures. Market divergence widened towards week-end and trading thinned.

Aluminum｜Aluminum Profile

• SMM data shows domestic primary aluminum social inventory stood at 768,000 tons, down 21,000 tons week-on-week.

• Domestic aluminum futures rose then fell, and spot prices moved accordingly. Holders adjusted quotations flexibly based on futures and were eager to deliver goods. Downstream resisted high prices and only bought for rigid demand, resulting in dull trading. The domestic aluminum spot market is expected to fluctuate weakly in the short term.