Float glass market remains weak and stable

 Float glass market remains weak and stable

Float glass market price

Analysis of float glass market

Today, the price of 5mm float glass in China's market is mainly stable, with individual reductions. Glass prices in Central China remained unchanged, with market prices at 1600 yuan/ton; float glass market prices in the North China market fell partially, the trading atmosphere on the market cooled down, and manufacturers 'quotations were relatively flexible. Among them, the price of 5mm large plate float glass in Shahe area was lowered by 4 yuan/ton to 1464 yuan/ton; the market in South China was stable and weak, with poor downstream demand in some regions affected by the plum rainy season, and manufacturers were reluctant to support prices; Markets in Northeast and Northwest regions, there was a strong wait-and-see attitude. Overall, the downstream willingness to receive orders in the float glass market is weak, and strong supply and weak demand continue.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on April 29 was 1,531.33, down 1.02 from the previous working day, with a range of-0.07%.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on April 29, was 1580 yuan/ton, and finally closed at 1569 yuan/ton, an increase of-0.19% within the day. The intraday high was 1587 yuan/ton, the lowest was 1541 yuan/ton, holding 807921 lots, and the month-on-month-on-month-on-month.

Today, glass futures prices were weak and volatile, with funds mainly leaving the market before the holiday. The overall performance of the spot market weakened over the weekend, but production and sales in major regions were still acceptable, and spot quotations were mainly stable. The pre-holiday replenishment logic is coming to an end. The ability to undertake terminal demand is relatively limited. During the holidays, the market may face cumulative pressure. Overall, glass fundamentals drive is limited, and may still fluctuate within a narrow range in the short term with the market environment.

market outlook

The inventory pressure of upstream soda ash companies is not strong, and production and sales are still acceptable. Manufacturers 'inventories have declined slightly. The soda ash market remains strong and volatile, and float glass manufacturers have good support from the cost side. However, the fundamental drive of the glass itself is still relatively limited, and the pattern of strong supply and weak demand has not yet been broken. Real estate demand has not improved significantly yet. It is expected that the float glass spot market will remain weak and stable in the short term.