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Last week's poll results:
Do you support President Bush's immigration bill?
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56.69%: No |
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27.91%: Yes |
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12.40%: Not sure |
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Financials
Business headlines
Chinese glass industry reaches overcapacity
A huge oversupply of glass from a growing number of Chinese manufacturers has lead to intense competition among similar types and grades of glass, and lower prices, according to Andy Skillen, publishing director for Asian Glass of London. Skillen spoke June 16 during the Glass Performance Days conference in Finland.
As a result of the low prices, most industry players showed a net loss last year—about 250 glass companies lost more than a combined $133 million from January to November 2006, he said.
The oversupply has continued into this year, and “last moth, the industry boomed almost uncontrollably,” Skillen said.
Low-grade glass is the most overproduced product. However, many Chinese glassmakers are increasing production of higher quality glass products, Skillen said.
Read more about the state of the Chinese glass market in the GPD report in the August issue of Glass Magazine.
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