Float glass market is weak
Float glass market price
Analysis of float glass market
Today, the domestic 5mm float glass market is operating weakly, with the Southwest and East China region as a whole reducing the overall price of 10 yuan/ton.The mentality of supporting prices is still weak; Trading in the North China market was average, with prices in the Beijing-Tianjin-Tangshan region falling by 10 yuan/ton to 1470 yuan/ton. The prices of 5mm large plate float glass in the Shahe region falling successively, and the procurement situation was poor; the overall float glass price in the South China market was lowered by 20 yuan/ton, the price of 5mm large plate in Guangdong weakened, falling by 30 yuan/ton to 1530 yuan/ton, and demand was still weak; the quotations of manufacturers in northwest and central China were temporarily stable, and the downstream demand was dominated by demand. Overall, the seasonal demand off-season combined with insufficient terminal support, the market wait-and-see sentiment has intensified, and the fundamentals of the float glass market are still weak.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on July 16 was 1,379.08, down 3.7 from the previous working day, with a range of-0.27%.
Futures dynamics
According to data from Boduo, the opening price of FG2409, the main glass contract, on July 16, was 1453 yuan/ton, and finally closed at 1454 yuan/ton, an increase of 0.00% within the day. The intraday high was 1462 yuan/ton, the lowest was 1433 yuan/ton, holding 742516 lots, and the month-on-month-on-month-on-month.
Today, glass futures prices fluctuated mainly within a narrow range with the market environment. At present, the fundamental improvement of glass itself is limited, and it is difficult to have a strong drive in the short term. The prices of manufacturers in the spot market continue to be lowered, with production and sales mainly weak and stable, and negative market feedback continues. However, given that the current futures prices are already at a relatively low level and the commodity market has a certain atmosphere to support during important meetings, there is still room for the subsequent implementation of specific policies. There is room for game, and we cannot rule out another opportunity for emotional rebound, thus opening up the arbitrage space for the future to form a phased positive feedback market. In the near future, we need to focus on whether the macro trading direction during and after important meetings supports the above views.
market outlook
The supply side of the floating glass market is not positive, the demand side is still sluggish, production and sales are difficult to improve, and inventories continue to accumulate in some areas; manufacturers 'quotations are still loose, and market prices may continue to be weak and downward in the short term. Specific attention should be paid to market demand and cost changes.
