Float glass market prices continue to fall
Float glass market price
Analysis of float glass market
Today, the domestic 5mm float glass market continues to show a downward trend. Float glass prices in North China have been lowered by 30 yuan/ton, with the Beijing-Tianjin-Tangshan region having a significant decline, with a reduction of 40 yuan/ton to 1350 yuan/ton; the price of 5mm large float glass in Shahe region has been lowered by 28 yuan/ton, and manufacturers have shipped goods. The shipment situation is poor, and inventory pressure has increased; the focus of market transactions in East China, Central China and South China has declined today, and production and sales performance is weak. At present, the fundamentals of the float glass market are weakening, downstream companies are not willing to hoard goods, and demand recovery is more difficult; production and sales in the spot market are gradually weakening, manufacturers have a weak attitude towards supporting prices, and quotations are still being lowered.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on August 19 was 1,293.53, down 12.6 from the previous working day, with a range of-0.96%.
Futures dynamics
According to data from Boduo, the opening price of FG2409, the main glass contract, on August 19, was 1239 yuan/ton, and finally closed at 1233 yuan/ton, an increase of-1.04% within the day. The highest intraday session was 1252 yuan/ton, the lowest was 1223 yuan/ton, with 322003 lots held, and the month-on-month was-40963 lots.
Today's glass futures prices were weak and mainly volatile. The fundamentals of glass itself are still difficult to see obvious improvement opportunities in the short term. Over the weekend, production and sales in the spot market were flat, spot prices continued to decline, and negative market feedback continued. In view of the fact that the current glass supply side has entered the early stage of production capacity clearance, the improvement of supply has a certain margin and has a certain resilience to the current low price. However, whether the demand side can bottom out is the indicator that determines the direction. Before that, glass is still difficult to see the upward drive, and the short-term or weak fluctuations will mainly occur with the market environment.
market outlook
The float glass market started steadily, supply remained relatively high, while downstream demand continued to be weak; with strong supply and weak demand, it is expected that spot market prices may continue to consolidate within a narrow range in the short term.
