Floating glass market stabilizes prices and waits and sees

Floating glass market stabilizes prices and waits and sees

Float glass market price

Analysis of float glass market

Today, prices in various regions of China's 5mm float glass market are relatively stable, with only the floating glass market price in Southwest China falling by 20 yuan/ton. At present, the fundamentals of the glass market are still not optimistic. Real estate construction has decreased, the operating rate has dropped significantly, the demand side has continued to be weak and insufficient support has been lacking, the transaction situation of enterprises in North China has been flat, and the transportation of logistics vehicles is still relatively limited. The focus of transactions of individual companies in East China has shifted slightly. Most Chinese companies have greater inventory pressure, weak market operations, and a strong wait-and-see attitude in the market.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 20 was 1,662.64, down 1.67 or 0.10% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2405, the main glass contract, on March 20, was 1553 yuan/ton, and finally closed at 1536 yuan/ton, an increase of-0.84% within the day. The intraday high was 1573 yuan/ton, the lowest was 1533 yuan/ton, holding 670650 lots, a month-on-month +6957 lots.

Today, glass futures prices mainly fell within a narrow range with the market environment. The pressure on glass fundamentals is relatively serious, the actual demand in the peak season is weak, and emergencies restrict downstream construction. The practical logic is hard to say that it will improve in the short term. The long-term demand for real estate completion is also not optimistic, and changes in glass expectations in the future may be carried out around the policy side. In the short term, glass lacks its own drive, or follows the trend of related commodities and fluctuates mainly within a narrow range.

market outlook

Market supply remains high, market supply and demand are basically balanced, and prices are relatively stable; however, some companies are still relatively cautious in purchasing, and soda ash prices will operate firmly in the short term. The fundamentals of the floating glass market are under serious pressure, demand continues to be weak, and the practical logic is difficult to improve in the short term and lacks its own driving force. It is expected that float glass market prices will continue to remain weak in the short term.