報告摘要

n? 由于當前利潤維持在相對較高水平,玻璃生產企業紛紛加速復產，延后冷修。預計下半年玻璃供應將相對寬松。

n? 人民銀行分別在4月和6月兩次降低存款準備金率。政策微調信號明顯。降準改善流動性，對房地產投資形成支撐。下半年地產仍存韌性。

n? 受原材料價格有所上漲的影響，預計下半年玻璃利潤將有一定程度的回落。

?

?? 非金屬建材主要品種行情回顧

?? 玻璃供應

?? 玻璃需求

?? 玻璃成本

?? 行情展望及策略

Abstract

n? Glass manufacturers have accelerated their resumption of production and delayed their cold repairs. Glass supply is expected to be relatively loose in the second half of the year.

n? The people’s bank of China lowered the deposit reserve ratio twice in April and June respectively. The fine-tuning signal of policy is obvious. The RRR cut improves liquidity and supports real estate investment.

n? Affected by the increase in raw material prices, it is expected that glass profits will generally fall to a certain extent.

?? Review of major varieties of non-metallic building materials

?? Glass supply

?? Glass demand

?? Glass cost

?? Market outlook and strategy recommendation

20180709前海期貨—非金屬建材產業鏈半年報—供給寬松，需求韌性仍存，玻璃價格將震蕩為主.pdf