[Float Glass]2.19 Float Glass Daily Review: Float glass shipments in local regions are acceptable

Float glass market price

Analysis of float glass market

Today, the float glass market fluctuated within a narrow range. As of now, the spot market price of float glass is 2033 yuan/ton. The market in East China is operating steadily, and the prices of some enterprises in Anhui have increased; the market prices in North China have fallen, and the prices of some models of glass in Shahe have fallen, making the market transaction prices more flexible; the glass market in Central China has risen again, and the overall shipment situation of enterprises is better; Market prices in South China are operating steadily, while prices in Guangdong are rising within a narrow range. Downstream companies are understaffed, and purchasing in the market is more cautious.

Float Glass Index Analysis

According to Boduo data, the float glass price index on February 19 was 1,823.71, down 0.05 from yesterday.

Futures dynamics

According to data from Boduo, the opening price of FG2405, the main glass contract, on February 19, was 1795 yuan/ton, and finally closed at 1740 yuan/ton, an increase of-4.66% within the day. The intraday high was 1796 yuan/ton, the lowest was 1734 yuan/ton, holding 391954 lots, a month-on-month +44680 lots.

Today, the glass panel gapped low and opened low. During the Spring Festival, due to the slight increase in supply, demand basically stagnated, and manufacturers accumulated a large number of warehouses. The support for low inventory in the early stage is limited, but there is currently no strong driving force on the macro level. The current glass production profits are considerable, and supply growth expectations still exist. On this basis, the industrial logic of weak demand in the off-season of market trading needs to be observed in the future. Whether the resumption of work in downstream deep processing enterprises and terminals can bring about a rebound in demand, in addition, we need to pay attention to whether the LPR will be lowered beyond expectations tomorrow and the macro sentiment will pick up due to the approaching two sessions.

market outlook

Today's float glass market shipments performed well. The price of the upstream soda ash market is stable, which supports the cost of glass; the stock of glass raw pieces of middle and lower reaches of enterprises is low, but the enterprises have not fully resumed work, and the demand side is weak. It is expected that the float glass market will operate steadily in the short term.