Futures market turbulence, consolidation, market sentiment has cooled down

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market quotes are stabilizing. Specifically, float glass prices in North China are relatively stable compared with yesterday, market sentiment has cooled, and manufacturers 'shipments have been flat. The weather in the southern China market has improved, the frequency of purchases in the middle and lower reaches has accelerated, and the transactions of some companies have improved; the price in the eastern China market has remained at 1730 yuan/ton; the quotation in the central China market has been stable and mainly wait-and-see; and prices in the southwest have stopped falling and stabilized.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on June 12 was 1,536.04, up 0.44 or 0.03% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on June 12, was 1665 yuan/ton, and finally closed at 1666 yuan/ton, an increase of-1.24% within the day. The intraday high was 1684 yuan/ton, the lowest was 1660 yuan/ton, holding 641806 lots, a month-on-month +2461 lots.

Today's glass futures prices generally fluctuated in a narrow range. Although the current fundamentals of glass itself have limited improvement, supply and demand expectations have shown marginal changes, and its absolute price is not high. There is relatively limited room for decline after market sentiment weakens. In the future, we need to continue to pay attention to whether the overall commodity market environment can stabilize. Before new drivers emerge, glass may remain volatile with the market environment.

market outlook

At present, the glass sentiment in the float glass market has cooled down, and the market performance is average, but its own fundamentals are expected to improve marginally and the absolute price is not high. Support still exists under the float glass market. It is expected that the float glass market will fluctuate within a narrow range in the short term. Observe changes in market sentiment.