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Property support has increased and the outlook for float glass demand is positive

Float glass price trend is consistent, glass enterprises production profits from the mid-year high in 2021 back down, since then the profit level to maintain a relatively low level. After New Year’s Day, the downstream demand for replenishment had driven the profits of glass producers to rebound, but after the Spring Festival, the profit level of enterprises continued to decline following the weak price trend. Float glass production capacity peaked in the fourth quarter of 2021 and has been steadily declining since then.

In accordance with the situation in previous years, after the first month construction sites into the resumption of peak, late March to early April glass deep processing enterprises of the Spring Festival stock is basically used up, the need to replenish the original film inventory. However, this year by the impact of multiple factors, the slow recovery of glass demand, including the impact of the epidemic on logistics is the primary factor in the slow recovery of downstream demand.

Transportation uncertainty

Recently, local glass production and sales have improved, transportation is still affected by the epidemic is still subject to certain restrictions, the overall enterprise inventory to maintain a certain rate of growth. I learned from the market feedback, central China float glass market overall transaction stability, price changes are not significant, with small local fluctuations; South China float glass market manufacturers shipments are weak, enterprises under certain pressure. In addition, the downstream processing plant production to promote the general situation, glass prices loose 1-3 yuan / weight box ranging. Southwest float glass market prices are weak finishing, including some of the price of Sichuan loose, Yunnan individual manufacturers up; Northwest float glass market is still light, individual plant prices adjusted slightly; the overall domestic float glass prices are stable, production and sales are still available.

Logistics and transportation have improved since May, but there are still intermittent stops and several changes in access conditions due to the epidemic in surrounding areas. Uncertainty in transportation led to a temporary low number of glass transport vehicles and a significant increase in freight costs.

Increased support for real estate

Since the beginning of the year, the benign cycle of the real estate market has received attention from the relevant departments, and policy support has been enhanced. on April 18, the People’s Bank of China and the State Administration of Foreign Exchange issued the “Notice on the financial services for epidemic prevention and control and economic and social development”, emphasizing the need to grasp the implementation of financial support policies for the real economy, support local governments to carry out infrastructure investment moderately ahead of schedule, and protect financing platforms in compliance with the law Companies reasonable financing needs. Apply policies according to the city, reasonably determine the minimum down payment ratio of commercial personal housing loans, the minimum loan interest rate requirements, support the reasonable financing needs of real estate development enterprises and construction enterprises, and promote the stable and healthy development of the real estate market. Guide platform enterprises to carry out inclusive financial services in compliance with the law to maximize benefits to enterprises and people. Under the requirement of protecting the legitimate rights and interests of housing consumers, the demand for glass for this year’s real estate completion will depend on the high growth of the sales area of term houses in 2020 and 2021, while superimposing the demand for glass that should be completed but not yet completed in 2021.

 All in all, the outlook for glass demand is optimistic.

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