The float glass market is stable and weak during the holiday season

 The float glass market is stable and weak during the holiday season

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is stable and weak. Glass prices in North China are mainly stable, with the market price at 1590 yuan/ton. Downstream purchases are mainly needed, and the transaction atmosphere is generally strong. Shipments in the East China market are still acceptable, and manufacturers 'quotations are temporarily stable; float glass prices in the Central China market remain at 1600 yuan/ton; the South China market continues to weaken, rainfall and weather continue to affect, downstream procurement frequency decreases, and some manufacturers lowered their quotations; Overall, the supply side of the float glass market started relatively smoothly, while the demand side was dominated by demand. Some downstream and downstream processing plants were in a flat mood to get goods during the holidays.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on April 30 was 1,530.33, down 1.00 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 30, was 1564 yuan/ton, and finally closed at 1533 yuan/ton, an increase of-2.11% within the day. The highest intraday session was 1578 yuan/ton, the lowest was 1521 yuan/ton, holding 1095303 lots, a month-on-month-on-month-on-month.

Glass futures prices fell sharply today, and a large number of funds left the market to avoid risks before the holiday. Quotes in the main spot production and sales areas have dropped somewhat, and the pre-holiday replenishment logic has basically ended. After the holiday, manufacturers are likely to face accumulated pressure. Today, there are rumors in the market that manufacturers have preferential promotions, which have suppressed prices to a certain extent, but what is more important is to observe whether this can lead to production and sales to form a new round of positive market feedback. In the short term, the fundamental improvement of the glass itself is still limited, and there is no strong driving force above and below the disk surface, or it remains weak and volatile waiting for actual demand to warm up or macro support again.

market outlook

As the May Day holiday approaches, replenishment of warehouses before the holiday has ended one after another, and downstream processing factories are in a calm mood to pick up goods during the holiday. From a fundamental point of view, the glass itself is underdriven, and the pattern of strong supply and weak demand has not yet been broken. It is expected that the float glass market will remain weak and stable in the short term until terminal demand improves significantly.