China's Fuyao Group Glass Ind Co said 11 Nov/08 it will stop two production lines because of weaker demand from the building market. Encouraged by the booming property sector, domestic building glass capacity had expanded rapidly over past years. But the slowing economy has forced many big glass companies to limit output recently. Despite this, the market is still over supplied. "As the impact of the US subprime crisis on the global financial markets & the real economy deepened, the demand for glass for construction is expected to keep falling, with the gap between supply/demand widening", Fuyao said in a Shanghai Stock Exchange filing. The two lines, in Fujian Province's Fuqing & Jilin Province's Shuangliao, have a combined daily glass melting capacity of 1,060 tons, the company said, without saying how long the suspension would last.
