Glass inventory is still in position, but optimistic about the glass market in the second half of the year

From January to July, the output of flat glass was 599 million weight boxes, which was +11.1%/+10.3% compared to the same period in 2020/2019. The output of flat glass in July was 88.31 million weight boxes, which was +12.3% compared to the same period in 2020/2019. /+13.2%. In July, the glass market only needs to pick up slightly. At the end of the month, the inventory of manufacturing enterprises fell to 17.08 million TEUs, a decrease of 3.49 million TEUs from the beginning of the month. Since August, due to public health incidents, power outages, weather and other factors in some areas, manufacturers’ inventories have increased from 2.28 million boxes to 20.1 million boxes from the previous month, but they are still at a historical low. At present, the average price of float glass in my country is 156 yuan per weight box, which is 62 yuan higher than the same period last year. We are still optimistic about the demand for Q3/Q4 float glass. In the tight balance of supply and demand, the possibility of glass prices rising is still very large. However, after the meeting of the Ministry of Industry and Information Technology, the frequency and magnitude of price increases by original film manufacturers may slow down slightly, and the mid-to-long-term glass prices are expected to remain high. Therefore, we will continue to be optimistic about the glass market in the second half of the year.