Float glass market correction slightly

Float glass market correction slightly

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is operating steadily compared to yesterday. Specifically, the market in North China continues to weaken. The prices of 5mm large float glass in Shahe area continue to decline, and the prices of other specifications of glass also fall slightly; some companies in East China make up for the gains, making market transactions more flexible; while Central China and Northeast China The wait-and-see attitude is strong, and the downstream enthusiasm for purchasing goods has weakened. At present, market sentiment has cooled down, demand side recovery is limited, production and sales in the float glass market are flat, and manufacturers 'shipments are uneven.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on November 12 was 1,294.04, down 2.52 from the previous working day, with a range of-0.19%.

Futures dynamics

According to data from Boduo, the opening price of FG2501, the main glass contract, on November 12, was 1320 yuan/ton, and finally closed at 1315 yuan/ton, an increase of-2.01% within the day. The highest intraday session was 1325 yuan/ton, the lowest was 1284 yuan/ton, holding 1078278 lots, a month-on-month period of-20091 lots.

Today, glass futures prices continue to be weak, volatile and mainly downward. Currently, the glass supply side is still expected to decline, and marginal support still exists. However, as glass profits recover, the cold repair path may show signs of slowing down. The month-on-month demand has also slowed down, and the actual downstream replenishment volume has basically met the demand for its own orders. After the phased demand pulse has eased, it is necessary to continue to pay attention to whether new demand growth points have emerged in the future to support the sustainability of midstream depots. If subsequent actual demand cannot accommodate midstream inventory, glass prices may still suffer phased backlash.

market outlook

There are no obvious signs of cold repair in the float glass market; market sentiment is weakening, the continuous momentum for downstream replenishment is low, and there is a lack of positive factors to further support the market's continued upward. It is expected that spot market prices will be mainly adjusted in a narrow range in the short term.