The Glass Fiber market in China experienced a much-needed reprieve in May xxxx, with prices finally stabilizing after a period of constant decline. This positive development came against a backdrop of ongoing challenges for downstream Chinese automakers, who have been grappling with weak consumer sentiment and fierce competition as the downstream automotive market rebounded in May which ultimately led to Glass Fiber price stability post-government intervention to provide trade-in subsidy in their older car for new ones before the end of the year.
A key driver of the price stabilization was a strategic policy shift by the Chinese government. The introduction of new subsidies incentivized consumers to trade in their older, less eco-friendly vehicles for cleaner, more energy-efficient models. This initiative significantly boosted demand for Glass Fiber, a vital material used extensively in car manufacturing. As consumers opted for electric and...
