Float glass market is weak and downward
Float glass market price
Analysis of float glass market
Today, the domestic 5mm float glass market is weak and downward. Among them, prices in the northwest and northeastern regions have generally been lowered by 30 yuan/ton. The focus of market transactions has declined, and purchasing sentiment has continued to cool down. Trading in the East and North China markets is generally, and prices in the Beijing-Tianjin-Tangshan region have dropped by 20 yuan/ton to 1470 yuan/ton. The prices of 5mm large-plate float glass in the Shahe area have been continuously loosened, and production and sales are weak; quotations from manufacturers in other regions have temporarily stabilized, and the downstream procurement situation in the southwest and south China markets is poor, with the majority of demand is just. At present, the float glass market has low supply elasticity combined with declining sales volume, and overall inventories continue to accumulate.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on July 17 was 1,369.46, down 9.62 from the previous working day, with a range of-0.70%.
Futures dynamics
According to data from Boduo, the opening price of FG2409, the main glass contract, on July 17, was 1445 yuan/ton, and finally closed at 1439 yuan/ton, an increase of-0.69% within the day. The intraday high was 1460 yuan/ton, the lowest was 1428 yuan/ton, holding 786597 lots, a month-on-month +44080 lots.
Today, glass futures prices continued to fluctuate as the market environment continued to fluctuate and decline. At present, the fundamentals of glass are still weak. Spot market quotations continue to decline, and futures prices are falling simultaneously. Important meetings during the week are coming to an end, but policy guidance that exceeds expectations has not been issued. It may be difficult to form an arbitrage window in the short term, and the market may rush to rush into trading expectations. Failure to achieve, the glass market may still be difficult to have a strong drive before terminal demand improves in the medium and long term, and may remain weak until then.
market outlook
The fundamental contradiction between supply and demand in the float glass market is still relatively severe. There is a lack of good news and insufficient driving force, and market prices may decline further in the short term.
