Last week, the overall price in the country continued to rise slightly, and individual varieties in the larger Guangzhou market increased by 4-5 yuan per heavy box. Driven by the demand in the peak season, our statistical production company inventory data has continued to fall since August, and the confidence of dealers in East China market has recovered rapidly. Last week, it successfully raised the price by 2 yuan/heavy case. However, we insisted cautiously that in the second half of the year, pressures on new production capacity in North and East China are still under pressure. The two lines of Wal-Mart's headquarters are undergoing cold repairs, and the joint efforts of manufacturers to increase prices during the Yong-Kong season may only serve to stabilize market confidence in the short-term. .
South China: Guangzhou's glass market has recently risen. Manufacturers' prices have increased. The factory price is low at 100 yuan/heavy box and the high level is about 104 yuan/heavy box. Market demand rebounds, and shipments are stable. Manufacturers have little inventory.
North China: The market in Beijing is in a good atmosphere and there are fewer glass manufacturing companies. The price remained stable, with a slight upward trend. In times of high demand for glass, manufacturers want to keep their prices high.
Northeast China: Northeast China is in the golden season of glass demand, while glass prices in Northeast China have risen. Strong demand and tight supply.
East China: The recent rebound in the East China market has changed relatively quickly. The manufacturers continue to increase prices. Currently, the manufacturers have a price tag of 89 yuan/heavy box and a heavy plate of 95 yuan/heavy box. Market confidence recovered quickly, confidence in the expected market was strong, and factory inventory was low.
Glass industry: rebound in float glass prices
Central China: Glass demand in Wuhan increased, and market prices stabilized. The performance of the Henan market has been relatively stable, some glass varieties have been raised in price, and some positive factors have appeared in the market.
In the southwestern region, the price of thin-plate glass in Chengdu was stable, and the price of heavy-plate glass was slightly raised, and the market demand was strong.
Soda ash prices remained stable last week compared to the previous period. Shanghai Zhongshan Chemical Industry's heavy soda ash (99%) was quoted at 1,380 yuan per ton; heavy oil prices fell last week, and ranged from around 30-50 yuan per ton in major cities. Industrial pipeline natural gas prices remained stable.
Among the glass stocks, we are most bullish on CSG A (000012): Even a slight drop in the gross profit margin of float glass will not have much impact on it, because the driving force of stock prices is more from the broad growth space of LOW-E energy-saving glass and the photovoltaic industry. recovery. The continued growth of future earnings (mainly from the growth of LOW-E energy-saving glass and photovoltaic industry sales) will become the most important driving force for stock price rise. Polysilicon prices have recently increased from about 50 US dollars / kg to about 60 US dollars / kg, according to current prices, CSG this year, EPS thickening of about 0.03 yuan, the impact is not, to maintain the "buy" rating. Globally, supply pressure remains high, and production costs continue to decrease. Therefore, we believe that polysilicon prices cannot continue to rise, but we need to closely track price movements.