Float glass market maintains stable operation

Float glass market price

Analysis of float glass market

Today, the overall price of 5mm float glass in China remains stable, with a slight increase in some regions. Among them, the price of 5mm small plates in Shahe area of North China rose by 12 yuan/ton to 972 yuan/ton. The production and sales situation are good, and manufacturers 'shipments are still acceptable; quotations in other regions are basically stable, and downstream mainly maintain just needs procurement. Production and sales in some areas are still poor., and the wait-and-see mood is heavy. Overall, the production and sales of float glass in the northern market have improved slightly, while the trading atmosphere in the southern market has improved limited. The overall industry inventory pressure has eased, and there are certain expectations for improvement in fundamentals.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on September 27 was 1,058.60, up 1.52 or 0.14% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2501, the main glass contract, on September 27, was 1160 yuan/ton, and finally closed at 1206 yuan/ton, an increase of 6.26% within the day. The highest intraday session was 1208 yuan/ton, the lowest was 1144 yuan/ton, holding 970711 lots, a month-on-month-on-month-on-month.

Glass futures prices continued to rise sharply today. Boosted by recent macro sentiment, the production and sales of upstream manufacturers have strengthened significantly after the glass market opened up with arbitrage space. Some manufacturers have followed the trend and raised their quotations, forming further positive feedback on futures prices.Although the actual downstream demand cannot be fully accommodated, the macro sentiment will still have expectations and sustainability. Industrial conflicts may not be highlighted for the time being under the appearance of inventory circulation. In the short term, it can be observed whether the policy will further support fiscal efforts and spot market prices. Whether the upstream price fixing behavior and midstream receiving efforts can continue the development of the market.

market outlook

Driven by macro-favorable policies, glass manufacturers mainly focused on destocking before the holiday, and some manufacturers showed signs of raising prices when production and sales improved. However, the recovery of downstream demand is still slow, and we need to continue to pay attention to the adjustment of the fundamentals of the glass market in the future.