The float glass market continues to adjust within a narrow range
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to be dominated by narrow adjustments. Among them, the float glass market price in North China has been lowered by 10 yuan/ton, and the shipment speed of 5mm plate glass market in Shahe has slowed down. The trading atmosphere has been insufficient, and the quotations of manufacturers have been lowered; the float glass market in East China has performed well, and the quotations have increased slightly; Most downstream in other regions maintain a wait-and-see attitude, and manufacturers 'quotations are relatively stable. At present, there are few adjustments to the supply-side production lines in the float glass market, limited demand growth, downstream procurement mentality is still relatively cautious, and the overall market production and sales situation is average.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 18 was 1,281.96, down 9.2 from the previous working day, with a range of-0.71%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 18, was 1264 yuan/ton, and finally closed at 1239 yuan/ton, an increase of-2.90% within the day. The intraday high was 1270 yuan/ton, the lowest was 1223 yuan/ton, holding 1102288 lots, a month-on-month +19886 lots.
Today, glass futures prices continued to be weak and mainly downward. The current operating logic of the glass futures market is still that macro sentiment cools down during the phased policy vacuum period, the space for premium prices on the market is compressed, and speculative demand is stagnant. However, the actual demand in the spot market is temporarily unable to withstand the selling pressure of midstream inventories, thus transmitting the pressure back to the upstream again. However, given that the pressure on manufacturers 'own inventory is not large, the room for price cuts may be relatively limited in the early stage. In the short term, we will focus on midstream inventory and wait for new drivers. Before that, the glass market may remain weak mainly due to fluctuations in the market environment.
market outlook
Some production lines in the float glass market are expected to undergo cold repairs, and the start of construction will decline slightly; under the influence of weakening market sentiment and cooling weather, production and sales will gradually slow down. It is expected that spot market prices will be mainly adjusted in a narrow range in the short term.
