According to the commodity analysis system of SunSirs, there has been a significant accumulation of glass spot inventory since March, and the overall industry production and sales situation is average. On March 1st, the average price of glass was 21.97 RMB/square meter. As of the end of March 19th, the average price was 20.33 RMB/square meter, with a price drop of 7.46%.

Since March, the inventory of enterprises has significantly increased, and the spot price of glass has continued to be under pressure. At present, 258 production lines have been maintained, with an operating rate of 85.2%. There are two glass production lines that have not yet been ignited in the future that need to be released. The glass supply has reached a historic high, and since March, companies have repeatedly lowered prices to stimulate shipments, thereby driving an improvement in glass production and sales. Last weekend, news of a large number of downstream deep processing enterprises shutting down in a certain region hit the confidence of the glass market once again.

In terms of glass production line, Kaisheng Technology Group Co., Ltd., Gansu Kaisheng's 600 ton production line, originally produces photothermal ultra white glass, has recently switched to producing white glass. Xinyi Glass Holdings Co., Ltd. introduced 900 tons of Jiangmen Xinyi Heshan Line on March 13th.

In terms of glass production, according to data from the National Bureau of Statistics, the production of flat glass from January to February 2024 was 161.94 million weight boxes, a year-on-year increase of 7.7%. Under high production capacity, there is greater pressure on the supply side.

According to the SunSirs, the glass spot market has been continuously declining since March. Upstream soda ash prices have fallen, domestic liquefied natural gas prices have fallen, and cost support is weak. The actual demand in downstream and terminal markets is average, and the real estate market is undergoing adjustment and transformation. Further attention needs to be paid to the changes in the news of the real estate market after the Two Sessions. It is expected that the glass spot market will continue to decline in the short term, but the downward space is limited.

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