Float glass market is weak
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to operate weakly. Among them, the price of 5mm large plates in South China dropped sharply by 30 yuan/ton to 1120 yuan/ton. Production and sales continued to weaken, and downstream purchases were still mainly in need. The quotations of most manufacturers in Central and North China were temporarily stable, but the market price of 5mm small plates in Shahe continued to fall, and the market trading atmosphere was sluggish; East China and Southwest China performed differently, but the overall price was lowered. At present, the float glass market price is still bottoming out. Some manufacturers continue to reduce prices and ensure quantity under the pressure of high inventory, and production and sales have improved. However, downstream demand has recovered slowly and the market has remained strong.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on September 24 was 1,049.36, down 5.84 from the previous working day, with a range of-0.55%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on September 24, was 1064 yuan/ton, and finally closed at 1115 yuan/ton, an increase of 6.19% within the day. The intraday high was 1122 yuan/ton, the lowest was 1056 yuan/ton, holding 1153756 lots, a month-on-month period of-70483 lots.
Glass futures prices rebounded sharply today,The optimistic expectations of China's financial market were boosted mainly by a series of policy combinations released at the press conference of the State Council Information Office in the morning. However, due to the crowded short positions of Glass itself, the stampede and rise were more obvious due to risk aversion. The current core contradiction for glass is insufficient demand delivery. With policy support, subsequent demand is expected to rebound, coupled with the recent accelerated cold repair of the glass supply side, the gap between supply and demand has narrowed expectations, which will give a strong boost to prices. However, in reality, the negative feedback from demand caused by the weakness of the terminal market has not yet been effectively improved. In the short term, it can be observed whether macro sentiment can continue, thereby boosting the middle and lower reaches to form further stockpiled phenomena.
market outlook
The float glass market has subsequent production line storage and cold repair plans, but the overall performance of downstream demand is still weak, and the transaction atmosphere is relatively depressed; recent frequent macro favorable policies, coupled with the expectation of replenishment before and after the holiday, may bring about a certain degree of price recovery. However, high inventory pressure still restricts the market's recovery, and follow-up attention should be paid to the adjustment of the fundamentals of the glass market.
