The glass market fell within a narrow range

The glass market fell within a narrow range

Float glass market price

Analysis of float glass market

Today, some areas of China's 5mm float glass market declined in a narrow range, with floating glass prices in Southwest, East and Central China falling by 20-50 yuan/ton; glass prices in Northeast, Northwest, South and North China markets being relatively stable. The glass market continues to be weak, with severe fundamentals under pressure. Downstream procurement is mainly needed, terminal demand is weak, market trading sentiment is poor, and companies are relatively flexible in quotations, and they often flexibly adjust quotations based on their own production and sales. Overall, the practical logic of the floating glass market will hardly improve in the short term.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 26 was 1,591.13, down 9.69 or 0.61% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2405, the main glass contract, on March 26, was 1492 yuan/ton, and finally closed at 1490 yuan/ton, an increase of-0.67% within the day. The intraday high was 1498 yuan/ton, the lowest was 1467 yuan/ton, holding 706890 lots, month-on-month-on-month-on-month.

Today, glass futures prices fluctuated mainly within a narrow range. Glass's weak fundamentals continue, and was once used as a standard variety for short-selling and hedging of related chain commodities. In the afternoon, the divergence between glass and black commodities may be reflected in the unwinding of some funds across varieties arbitrage orders. On the other hand, it also follows the trend of soda ash at the cost side. Mainly. In the short term, glass itself still lacks a strong driving force, and the market may still operate in weak and volatile conditions due to the downward revision of the spot price during the main shift period.

market outlook

Some upstream soda ash manufacturers maintained reduced production. In the early stage, some enterprises resumed production, and other manufacturers had no maintenance plans; market demand remained stable, and soda ash prices may fluctuate within a narrow range in the later stage. The supply side of the floating glass market is relatively high, while the demand side has not been effectively recovered. The situation of strong supply and weak demand continues, and there is more pessimism in the market. It is expected that the float glass market will continue to be weak in the short term.