The float glass market trend continues to decline
Float glass market price
Analysis of float glass market
Today, the domestic 5mm float glass market continues to be weak. Production and sales in the North China market have been weak recently. Among them, the price of 5mm large plate float glass in the Shahe area has been lowered; shipments in the Beijing-Tianjin-Hebei region have been sluggish, and the market price has dropped by 10 yuan/ton to 1410 yuan/ton. Trading in the Northeast region is average, with most companies cutting prices by 30 yuan/ton to promote shipments; the float glass market in the Northwest region is stable and weakening, with prices falling by 20 yuan per ton, making market transactions flexible; float glass quotations in other regions are relatively stable. At present, the gap between supply and demand continues to widen, quotations in many places continue to loosen, the trend of the float glass market continues to decline, and the market sentiment remains pessimistic.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on July 24 was 1,337.44, down 8.89 from the previous working day, with a range of-0.66%.
Futures dynamics
According to data from Boduo, the opening price of FG2409, the main glass contract, on July 24, was 1411 yuan/ton, and finally closed at 1427 yuan/ton, an increase of 0.71% within the day. The intraday high was 1438 yuan/ton, the lowest was 1410 yuan/ton, holding 780392 lots, a month-on-month-on-month.
Glass futures prices showed signs of stopping falling and recovering slightly today. On the one hand, futures prices have certain valuation support after falling to the previous low position, and some short orders have profit-making and closing positions. On the other hand, production and sales in some areas of the glass spot market rebounded significantly yesterday. As manufacturers 'quotations continue to decline, there may be a certain willingness to replenish the stock in the middle and lower reaches. However, given that the current glass fundamentals have not yet been significantly improved, it is expected that the sustainability of the production and sales recovery is relatively limited, and glass will mainly fluctuate around this position in the short term or temporarily.
market outlook
The supply of goods in the float glass market is stable, while downstream demand is sluggish, inventories remain high, and fundamental support is still insufficient; the macro sentiment is poor, the market lacks stimulus, and spot market prices will continue to fall under pressure in the short term.
