Float glass market stabilizes

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is running steadily. The price of 5mm large float glass in the Shahe area of North China has been lowered, and the inventory pressure on manufacturers in the market has increased. Float glass prices in the East China market were relatively stable, with overall transactions moderate, and the prices of some manufacturers in Shandong declined. The market price in Central China remains at 1590 yuan/ton. The middle and lower reaches of South China are mainly in need of procurement, and market sentiment in some areas is generally affected by the rainy season.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on June 20 was 1,525.35, down 1.25 from the previous working day, with a range of-0.08%.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on June 20, was 1586 yuan/ton, and finally closed at 1587 yuan/ton, an increase of 0.38% within the day. The intraday high was 1595 yuan/ton, the lowest was 1557 yuan/ton, holding 624253 lots, and the month-on-month-on-month-on-month.

Today, glass futures prices mainly rebounded with the market environment bottomed out. At present, the fundamentals of glass itself are expected to show marginal changes. However, after the market returns to realistic logic, the improvement of glass itself is still relatively limited. Coupled with the influence of weather in some areas, it is difficult for spot market production and sales to continue to follow up, and the overall market performance is weak. However, the profit on the glass disk is not high, and the room for decline may be relatively limited. 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 mainly volatile with the market environment.

market outlook

The supply and demand of soda in the upstream soda ash market are unbalanced, and transactions are relatively sluggish. The soda ash market is stable and weakening, and the focus of support for glass costs continues to move downward. The positive stimulus from macro policies in the early period has been exhausted, and the float glass market has returned to reality and its own improvement is still relatively limited and there are no positive factors to boost it. It is expected that the float glass market may continue to operate weakly in the short term.