Imbalance between supply and demand, floating glass market continues to decline

Imbalance between supply and demand, floating glass market continues to decline

Float glass market price

Analysis of float glass market

Today, the float glass market in various regions of China continues to remain weak, with the downward adjustment concentrated at 10-30 yuan/ton; floating glass prices in Northeast, Southwest and Northwest regions are stable. East China 5mm The market price of large-board float glass was lowered by 30 yuan/ton, the largest decline. There is a strong wait-and-see atmosphere in the lower reaches of the region. Manufacturers have poor shipment performance, and manufacturers with poor sales have mostly lowered their quotations to stimulate shipments. The transaction atmosphere in the floating glass market in North China was light. The quotations of manufacturers in Shahe area fell mainly, and the quotations of floating glass with 5mm plates fell by more than 20 yuan/ton. Beijing-Tianjin-Hebei 5mm large plate floating glass will be reduced by 10 yuan/ton. South China is still affected by low-price sources, and manufacturers have a weak mentality of supporting prices.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 5 was 1,775.02, down 19.35 or 1.08% from the previous working day.

Futures dynamics

According to Boduo data, the opening price of FG2405, the main glass contract, on March 5, was 1647 yuan/ton, and finally closed at 1638 yuan/ton, an increase of 0.49% within the day. The intraday high was 1673 yuan/ton, the lowest was 1632 yuan/ton, holding 606596 lots, a month-on-month +15176 lots.

Today, the glass panel is mainly falling due to the market environment. Affected by important meetings, macro sentiment rebounded. However, after the 24-year economic growth target and deficit ratio were announced in early trading, the lack of further upward drive in macro logic led to most commodity markets rushing high and falling back. Glass itself is in the fundamental logic of strong supply and weak demand. Today, it mainly follows the changing trends of related commodities. In the short term, the mentality of downstream replenishment is still dominated by just needs, and the sustainability of replenishment still needs to see the improvement of the resumption of work in the terminal market. Before that, the glass fundamentals are temporarily difficult to reverse. However, it is necessary to pay attention to the policy attitude of subsequent meetings on real estate and financial markets.

market outlook

The upstream soda ash market is stable and declining. Supply adjustments are limited to maintain high operating loads. A small amount of downstream soda just needs to be replenished, and the probability of further downward adjustment is high. The floating glass market price continues to fall, and the fundamentals still maintain a situation of strong supply and weak demand. The imbalance between supply and demand is obvious. The performance of manufacturers 'orders and shipments is insufficient. The overall market transactions are average. It is expected that the floating glass market price will remain weak in the short term.