Float glass market is operating weakly and stably
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market generally shows a weak and stable operation trend. Among them, prices in East China and Jiangsu dropped significantly, down by 40 yuan/ton to 1440 yuan/ton. Manufacturers 'shipment speed slowed down compared with the previous period, and downstream enthusiasm for obtaining goods was not high; float glass market prices in northwest China have loosened, and downstream replenishment There is insufficient willingness, and terminal demand has not been significantly improved; some areas in the southwest have been affected by high temperatures, and production has been disrupted. The acceptance of new orders from manufacturers is not ideal, and float glass prices have fallen somewhat; Production and sales performance in other regions is relatively flat, and the market has a strong wait-and-see attitude. Currently, glass inventories have reached a high point during the year. Under the pressure of high inventories, market sentiment has not improved significantly, and manufacturers are mainly flexible in transactions.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on August 30 was 1,241.38, down 2.99 from the previous working day, with a range of-0.24%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on August 30, was 1261 yuan/ton, and finally closed at 1264 yuan/ton, an increase of 0.48% within the day. The intraday high was 1285 yuan/ton, the lowest was 1248 yuan/ton, holding 857231 lots, a month-on-month +25334 lots.
Today, glass futures prices were mainly strong and volatile. Affected by policy news, there were emotional fluctuations in the intraday trading that surged high and fell back. At present, the fundamentals of glass itself are still weak. Although there is a marginal increase in production capacity on the supply side, it is difficult for the market to provide a strong rebound drive until more important demand issues improve. However, the current futures market is supported by expectations of improved demand during the peak season and macro policy expectations. Glass futures prices have temporarily stopped falling and fluctuated, and may fluctuate within a narrow range with the market environment waiting for new drivers in the short term.
market outlook
Subsequent float glass still has ignition and cold repair plans, and supply will be adjusted; even if the expectation in the later peak season is fulfilled, without significant inventory removal, the drive for upward reversal in the float glass market is expected to be weak in the short term. Specific needs to be paid attention to Fundamental adjustments.
