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SCI: Float glass continues weak trend in early July

K-LinePoet
In June, glass demand was dragged down by the rainy season, and the output release from furnace ignition lines in May helped offset part of the scheduled cold repairs for some lines. Industry inventories continued to rise. As of June 25, inventory days in 13 provinces were 37.76 days. In some producing areas, a three-tier accumulation of inventories formed: inventories at factories, inventories in trade and circulation, and inventories represented by futures and spot warehouse receipts. Entering July, market trading was sluggish, and float glass plants mainly relied on proactive price concessions to move goods and bring cash flow back. In the short term, the ongoing hot and rainy weather will still suppress terminal construction, while subsequent plans for cold repairs have been somewhat reduced and the number of furnaces restarting/igniting has increased slightly. With no strong conditions for an improvement in supply and demand, prices may continue to operate on the weak side. (Zhuochuang Information)
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