Glass scrap market situation Asia 2024

Photo by culletfactory.com

Market Overview

The glass scrap market in Asia has experienced notable fluctuations over the past year, influenced by factors such as production rates, inventory levels, and downstream demand. China, as a major player in the region, has seen significant changes in its glass industry, which have implications for the glass scrap market.

Production and Inventory Levels

In China, the glass industry has been operating at high capacity. As of March 2024, there were 258 production lines with an operating rate of 85.2%, leading to a historic high in glass supply. This increased production resulted in significant accumulation of glass spot inventory, exerting downward pressure on spot market prices.

Price Trends

The spot market price of glass in China has been on a declining trend. For instance, from March 1 to March 19, 2024, the average price dropped from 21.97 RMB/square meter to 20.33 RMB/square meter, marking a decrease of 7.46%.

Similarly, in June 2023, the average price fell by 3.05%, indicating a consistent downward trend during that period.

While specific data on glass scrap prices in Asia is limited, trends in the United States may offer some insights. In August 2024, the price of clear/flint cullet in the U.S. increased by $0.32 USD per ton over the previous month, and mixed scrap glass rose by $0.03 USD per ton. These modest increases suggest a relatively stable market for recovered glass.

Demand and Downstream Markets

The demand from downstream markets, particularly the real estate sector, plays a crucial role in influencing glass prices. In China, the real estate market has been undergoing adjustments, affecting the demand for glass products. Additionally, downstream processing enterprises have shown caution in procurement, often purchasing on an as-needed basis, which impacts overall market dynamics.

Conclusion

The glass scrap market in Asia, particularly in China, has been characterized by high production levels, increased inventories, and declining spot market prices over the past year. While direct data on glass scrap prices is limited, the trends in the primary glass market and insights from other regions suggest a cautious and fluctuating market environment. Stakeholders should closely monitor production rates, inventory levels, and downstream demand to navigate this market effectively.

By Cullet factory China

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