Glass supply and demand are both weak, inventory is high.

Recently, the supply side of glass has shrunk significantly, with multiple production lines shutting down. Last week, one production line each in Sichuan, Chongqing, and Guangdong halted production, affecting a capacity of 2400 tons per day. This week, one production line in Shahe Dejin started up, affecting a capacity of 800 tons per day. Currently, the daily melting volume has dropped to 145,700 tons, with a capacity utilization rate of 72.69%. However, there has not been a noticeable improvement in demand during the traditional peak season of "Golden March, Silver April." As of March 26, the inventory of sample companies reached 73.622 million heavy boxes, a decrease of -1.09% compared to the previous period, and the destocking rate has slowed down. As of March 19, the inventory of middlemen and traders in the Shahe region has increased significantly, while the rapid destocking rate in the previous period was driven by macroeconomic sentiment rather than real improvements in demand.