The glass futures market continues to be weak and the spot market has a strong wait-and-see atmosphere
Float glass market price
Analysis of float glass market
Today, the price of China's 5mm float glass market is mainly stable, with individual downward adjustments. At present, the fundamentals of the float glass market lack positive driving forces, and the market has a strong wait-and-see atmosphere. The North China market continues to be weak, with manufacturers loosening their quotations and flat production and sales. Market quotations in East China, Central China, Southwest China and other regions are relatively stable, and the enthusiasm for obtaining goods in the middle and lower reaches is weak. Prices in the South China market have been lowered, and manufacturers in the region are not willing to support prices.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on June 18 was 1,529.98, down 0.77 from the previous working day, with a range of-0.05%.
Futures dynamics
According to data from Boduo, the opening price of FG2409, the main glass contract, on June 18, was 1591 yuan/ton, and finally closed at 1573 yuan/ton, an increase of-2.36% within the day. The intraday high was 1604 yuan/ton, the lowest was 1563 yuan/ton, holding 661398 lots, a month-on-month +4025 lots.
Today, glass futures prices continued to be weak. At present, the fundamentals of glass itself are expected to change marginally, but the improvement of glass itself is still relatively limited after the market returns to the realistic logic. Coupled with the recent weakness of the overall environment of the commodity market, the glass market has formed a negative feedback resonance situation. However, the profit on the glass disk is not high, and the room for correction may be relatively limited. In the future, we need to continue to pay attention to whether the overall commodity market environment can stabilize. Before new drivers emerge, glass may remain weak and volatile with the market environment.
market outlook
Transactions in the upstream soda ash market were relatively sluggish. After a large amount of supply was restored, the soda ash market stabilized and weakened, and the focus of support for glass costs continued to move downward. Recently, float glass itself lacks new positive drivers. Coupled with weakening real estate data, increasing market wait-and-see sentiment. In addition, the rainy season in some areas has affected demand and shipments. It is unlikely that the float glass market will improve significantly for the time being. It is expected that the float glass market will remain weak in the short term.
