With the gradual recovery of demand following the holiday season, spot glass prices have started to rise, marking a rebound for the glass industry after a tough year. On Monday, Jingjing Science and Technology [4.1410.11% fund research report] hit a daily limit, showing strong investor confidence. It has been reported that some glass manufacturers are beginning to raise prices after years of stagnation. On February 15th, Binzhou Glass, Binzhou Qibin, and Heyuan Qibin increased their prices by 40 yuan per ton. The next day, Jingjing Technology raised its price by 20 yuan per ton, while thick plate prices went up by 40 yuan per ton. On the 17th, Shandong Jurun Glass also announced a price increase, with manufacturers in South China and East China gradually adjusting their pricing strategies.
According to Bao Yanxin, an analyst at Orient Securities, the low inventory levels of glass before the Spring Festival have set the stage for a seasonal restocking phase. As downstream processing companies begin to replenish their stocks post-holiday, this is expected to drive up glass prices. Bao predicts a higher probability of price increases this year, with an estimated range of 5–10 yuan per weight box. However, demand in northern regions has not yet fully recovered, so glass producers in Shahe, Hebei, are still cautious and have not yet implemented price hikes.
Looking ahead, as migrant workers return and real estate construction resumes after the Lantern Festival, demand for glass is expected to recover from south to north. The extent of this recovery will be crucial in determining whether glass prices can sustain an upward trend. After a long period of decline, this year may mark a turning point for the glass industry. Currently, the industry’s price-to-book (PB) ratio is at historical lows, and its growth rate lags behind other cyclical sectors. This suggests that the glass market could be nearing a bottom, offering potential investment opportunities for those who recognize the early signs of recovery.
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