Float glass market is weak
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market is generally weak. Among them, prices in North China continue to loosen, and the focus of transactions in the 5mm glass market in Shahe area has shifted significantly. Downstream procurement is mainly based on demand, and manufacturers have performed poorly in receiving orders; the pace of shipments in Northeast China and Central China has slowed down, and prices have generally been lowered by 10 yuan/ton, manufacturers flexibly adjust transaction strategies based on their own inventory conditions; quotations in other regions remain stable. At present, the trading atmosphere in the float glass market is weak, with downstream on-demand procurement dominated. Orders for deep processing in some regions have dropped month-on-month, shipping pressure on manufacturers has increased, and spot prices have shown a downward trend.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 19 was 1,271.04, down 10.92 from the previous working day, with a range of-0.85%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 19, was 1235 yuan/ton, and finally closed at 1257 yuan/ton, an increase of 0.88% within the day. The highest intraday session was 1263 yuan/ton, the lowest was 1233 yuan/ton, holding 10664411 lots, a month-on-month-on-month-on-month.
Today, glass futures prices rebounded mainly with the low market environment. Glass's current fundamental supply and demand pattern is still expected to improve. However, after the spot price rises, the repair of manufacturers 'profits has disturbed the cold repair path to a certain extent, and the drive for supply improvement has slowed down. Although manufacturers 'inventories are not high, the current actual demand is difficult to withstand the midstream inventory pressure, and the sustainability of subsequent actual demand is temporarily limited. Later, we will wait and see when the midstream inventory pressure will ease and new policy expectations will coordinate with the launch of a new round of market conditions. Before this, or still maintain a weak trend mainly due to fluctuations in the market environment.
market outlook
Individual production lines in the float glass market are expected to undergo cold repairs, and the start of construction will decline slightly; however, as market sentiment recedes and the impact of cooling weather, downstream demand has slowed down, and spot market prices are expected to fall steadily in the short term.
