二是降低存量房贷利率并统一房贷最低首付比例，降低购房成本，提升居民购房积极性，有助于扩大消费；As of September 28, the spot price of glass began to rise across the board.
Before the National Day, a series of combined policies were introduced to help stop the decline in real estate and stabilize.
The first is to downgrade and cut interest rates to provide more liquidity to the market from the general environment;
The second is to reduce interest rates on existing mortgages and unify the minimum down payment ratio for mortgages, reduce the cost of buying a home, increase residents' enthusiasm to buy homes, and help expand consumption;
The third is to introduce other policies favorable to real estate, improve the real estate market environment, and enhance market confidence.
The stock market, especially the real estate sector, rebounded markedly, and the types of building materials (glass, PVC) in the futures market continued to rebound.
The market's confidence in the real estate and related building materials industry continues to recover.
“On September 24, the domestic glass spot production and sales rate fully exceeded 100%. Since then, it has remained high for many days. Production and sales in the Shahe region have even surpassed 200% in recent days.” Zhang Linglu, a senior analyst at Everbright Futures Resources Products, said that glass manufacturers were slow to launch a price increase model due to high glass inventories and supply and demand conflicts that had not been substantially resolved. Until September 28, glass spot prices began to rise across the board.
Currently, the average loss in the glass industry is about 190 yuan/ton, and the valuation is at an extremely low level.
Affected by losses, the cold repair rate of glass has accelerated. Recently, the daily melting volume of glass has dropped by about 7% from a high level, and the pressure on the supply side has eased slightly.
On the demand side, the fourth quarter is the traditional peak season for glass, and demand may have improved month-on-month.
Favorable policies have boosted demand expectations. Policy transmission will take time, and glass demand may improve year over year or occur in 2025.
Hong Kong stocks related to the glass industry chain:
Fuyao Glass (03606), Kaisheng Xinneng (01108), Follett Glass (06865), Xinyi Glass (00868)
