Strong wait-and-see attitude, float glass market is mostly stable

Strong wait-and-see attitude, float glass market is mostly stable

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market continues to stabilize prices and wait and see. Transactions in the North China market are moderate, and manufacturers 'quotations are stable; central China is mainly in need of procurement, and manufacturers' shipments are still acceptable; East China is also a strong wait-and-see atmosphere, and the market quotations are stable. Shandong's quotations are slightly increased by 10 yuan/ton to 1670 yuan/ton. The market price in South China remains at 1780 yuan/ton. Overall, the float glass market is operating relatively smoothly, manufacturers 'quotations are stable, and individual manufacturers flexibly adjust to stimulate shipments.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 9 was 1,524.42, up 0.11 or 0.01% from the previous working day.

Futures dynamics

According to Boduo data,

On May 9, the main glass contract FG2409 opened at 1592 yuan/ton, and finally closed at 1612 yuan/ton, an intraday increase of +1.13%. The intraday high was 1614 yuan/ton, the lowest was 1584 yuan/ton, holding 904418 lots, a month-on-month period of-635 lots.

Glass futures prices rose slightly today. Recently, with the expectations of macro policies and factors such as rising costs and cold repair expectations, glass futures prices have been pulled to a premium. This in turn led to a large amount of purchasing arbitrage by cash sellers and formed a certain positive feedback on the spot market. Production and sales in the core areas of the spot market have strengthened, and the quotations of individual manufacturers have increased, which has given certain support to futures prices. In the short term, we can pay attention to the persistent problem of positive feedback from the market. Once glass prices stagnate, glass prices may face strong selling pressure. Before that, glass panels may fluctuate mainly with the market environment.

market outlook

The float glass market once again continued to maintain stable prices. Trading in some regions of China was moderate, and national inventories fell by 0.99% during the week. In addition, upstream soda ash prices were relatively firm, and float glass profit margins narrowed, but the overall supply side was still loose. After a temporary positive boost in real estate policies, we will observe subsequent performance. It is expected that float glass may continue to stabilize in the short term, and continue to observe improvements on the demand side in the future.