20180709前海期货非金属建材半年报：供给宽松 需求韧性仍存
报告摘要
n 由于当前利润维持在相对较高水平,玻璃生产企业纷纷加速复产，延后冷修。预计下半年玻璃供应将相对宽松。
n 人民银行分别在4月和6月两次降低存款准备金率。政策微调信号明显。降准改善流动性，对房地产投资形成支撑。下半年地产仍存韧性。
n 受原材料价格有所上涨的影响，预计下半年玻璃利润将有一定程度的回落。
Ø 非金属建材主要品种行情回顾
Ø 玻璃供应
Ø 玻璃需求
Ø 玻璃成本
Ø 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.
Ø Review of major varieties of non-metallic building materials
Ø Glass supply
Ø Glass demand
Ø Glass cost
Ø Market outlook and strategy recommendation
20180709前海期货—非金属建材产业链半年报—供给宽松，需求韧性仍存，玻璃价格将震荡为主.pdf
