The float glass market continues to rise, individual transactions diverge
Float glass market price
Analysis of float glass market
Today, the overall center of gravity of China's 5mm float glass market continues to move upwards, and prices in some regions have adjusted slightly. Specifically, prices in Northeast, Southwest and East China have risen steadily, with an increase of 10-30 yuan/ton. The market trading atmosphere is good, and manufacturers are actively going to the warehouse; the focus of transactions in South China has continued to rise, with prices rising by 50 yuan/ton. The downstream needs support still exist, the production and sales situation are good, and manufacturers have shipped smoothly; while the production and sales situation in the North China market has diverged, and the price of 5mm large boards in Shahe area has dropped slightly by 12 yuan/ton to 1208 yuan/ton. At present, the overall supply of float glass market is steadily supplied on demand; downstream procurement is mainly in demand, and the enthusiasm for procurement in some regions has slowed down, but the good market momentum is maintained.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 4 was 1,243.62, an increase of 7.04 or 0.57% from the previous working day.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 4, was 1375 yuan/ton, and finally closed at 1337 yuan/ton, an increase of-1.26% within the day. The highest intraday session was 1380 yuan/ton, the lowest was 1293 yuan/ton, holding 1061936 lots, a month-on-month period of-92899 lots.
Today's glass futures prices were mainly weak and volatile. They significantly reduced their positions on Friday night trading and rebounded from their low levels today. The main reason for today's significant reduction of positions may be that cost pressure above prices has not been driven by a breakthrough for the time being. The significance of maintaining a high price is limited, and funds are mainly used to realize profits and avoid policy disturbance risks. However, there was some positive news on environmental protection in the market over the weekend. The actual demand was not very bad for the time being during the winter rush period. There is still a path for improving the overall glass fundamentals, and there is still some support for the bottom of the glass. However, whether the subsequent actual demand can Continue to withstand the inventory pressure in the middle and upper reaches is the core issue that determines the direction of the glass. In the short term, we will focus on how China's incremental policies will evolve and whether we can give periodic expectations for further improvement in market demand.
market outlook
Expectations for supply contraction in the float glass market are gradually increasing; downstream replenishment is coming to an end, and procurement efforts are expected to slow down; spot market prices will be mainly adjusted in a narrow range in the short term, and it is necessary to observe the sustainability of the demand side in the future.
