The float glass market continues to be weak and downward
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to decline. Among them, prices in Central and South China have been lowered by 30 yuan/ton overall, and the trading atmosphere of enterprises is poor; markets in South China, Southwest and East China have been hit by low-price supplies in individual regions, coupled with the impact of continuous accumulation of stocks, and prices have fallen again; North China, Beijing-Tianjin-Tangshan floating glass market prices have continued to loosen, and the price of 5mm large slabs in Shahe area has also been lowered compared with yesterday. At present, the float glass market continues to be weak, downstream demand is still sluggish, and most of them adopt a wait-and-see attitude; the pressure on glass manufacturers 'inventories has not decreased, and market prices lack upward momentum and it is still difficult to see a rebound.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on September 11 was 1,141.28, down 10.26 from the previous working day, with a range of-0.89%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on September 11, was 1094 yuan/ton, and finally closed at 1089 yuan/ton, an increase of-1.09% within the day. The highest intraday session was 1094 yuan/ton, the lowest was 1057 yuan/ton, holding 1090332 lots, and the month-on-month was-50833 lots.
Today, glass futures prices mainly rebounded with the market environment bottomed out. The market has certain policy expectations for this week's ongoing China conference. Coupled with the upcoming release of important overseas inflation data, market bears have a certain risk aversion. However, under the premise that glass's own fundamentals are weak and difficult to improve, price elasticity is relatively limited. In the short term, it may still be mainly affected by the weak market environment, and subsequent driving depends on waiting for the respective improvements on the demand side or the supply side.
market outlook
The float glass market is in a downturn and has a strong wait-and-see atmosphere; downstream demand is weak and market sentiment has no signs of improving. It is expected that the float glass market will continue to operate weakly in the short term.
