Glass: The market shows clear downward pressure on the chart, continuing the weak bottoming-out trend.

Today, glass futures fluctuated downward, closing below the 1,000-point integer level, hitting a new low since the contract was listed. The overall market sentiment is relatively bearish, mainly due to the dual pressure of weak fundamentals and diminishing cost support: on one hand, the continuous decline in raw material prices has driven down production costs, weakening the bottom support for glass prices; on the other hand, demand in the spot market is weak, with deep-processing enterprises’ order volumes far below the same period last year; although supply has continued to shrink due to losses on production lines, with daily melting volume dropping to multi-year lows, industry inventories remain at high levels for the same period historically, with slow destocking progress, and supply-demand contradictions have not been effectively alleviated. Overall, against the backdrop of weak real demand, high inventory pressure, and weakened cost support, the market remains under pressure with a clear downward trend. (BoduoDuo)