81,160
February 20, 2024, 4:34 PM
Float glass market price
Analysis of float glass market
Today, the float glass market is moving upwards. As of now, the spot market price of float glass is 2034 yuan/ton. The market trend in East China is upward, while market prices in Anhui continue to rise; market prices in North China are stable, the spot market in Shahe area performs generally, and glass prices are low; the glass market in Central China is stable, and the overall shipment situation of enterprises is not warm; market prices in South China are temporarily stable, and some companies have improved their shipment performance after the price increase.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on February 20 was 1,824.04, up 0.33 from yesterday, or 0.02%.
Futures dynamics
According to data from Boduo, the opening price of FG2405, the main glass contract, on February 20, was 1732 yuan/ton, and finally closed at 1687 yuan/ton, an increase of-4.04% within the day. The intraday high was 1741 yuan/ton, the lowest was 1681 yuan/ton, holding 480072 lots, a month-on-month +88118 lots.
Today, the glass market continued to increase its position significantly downward. Today's five-year LPR exceeded expectations, but the performance of commodities in the real estate chain that benefited a lot weakened. The reason may be that the main commodity contracts are getting closer and closer to the delivery time, and the macro expected trading logic may gradually shift to their own realistic and fundamental logic. However, today's announcement of interest rate cuts is actually a good result and a weak reality is missing a macro resistance. However, glass itself is in a period of growing supply and weak demand in the off-season. Coupled with the recent heavy snow weather in some areas, demand lags behind again. In the short term, the pressure above the glass will be greater, and it may be mainly weak before the demand side improves.
market outlook
Today, the spot market performance in the float glass market is average. The price of the upstream soda ash market is stable, which supports the cost of glass; the accumulated inventories of glass companies are serious and the market supply is sufficient; the downstream companies are under-employed, and the demand side is weak. It is expected that the float glass market will operate weakly in the short term.
