Glass futures prices closed up slightly higher and the spot market stabilized
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market is stabilizing, and the overall market prices in various regions are flat and adjusted less than yesterday. Prices in the North China market are stable, with downstream procurement mainly, and manufacturers 'shipments are flat and trading is flat; the Central China market is operating smoothly; the quotations of manufacturers in South China remain stable, and shipments in some areas are performing poorly due to rainfall. Prices in the East China market have stabilized and moved slightly, and individual prices have been flexibly adjusted. There are certain expectations for improvement in the fundamentals of the float glass market, and its absolute price is not high, and the range of downward testing is relatively limited, but it may remain mainly volatile before the emergence of real drivers.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on June 5 was 1,522.04, down 0.00 or 0.00% from the previous working day.
Futures dynamics
According to Boduo data, the opening price of FG2409, the main glass contract, on June 5, was 1669 yuan/ton, and finally closed at 1682 yuan/ton, an increase of 1.08% within the day. The intraday high was 1696 yuan/ton, the lowest was 1655 yuan/ton, holding 658015 lots, a month-on-month +165 lots.
Glass futures prices performed relatively strongly today, with overall remaining strong and volatile. Although the current fundamentals of glass itself have limited improvement, supply and demand expectations have shown marginal changes, and its absolute price is not high, and the room for decline is relatively limited. In the future, we need to continue to pay attention to whether the overall commodity market environment can stabilize, and glass may remain dominated by wide fluctuations before new drivers emerge.
market outlook
At present, the favorable macro and energy consumption policies have cooled down, and the improvement on the demand side is limited. However, the macro sentiment in the float glass market still has certain fluctuations. It is expected that the float glass spot market will continue to be weak and stable in the short term, waiting for substantial drivers to emerge.
