Strong supply and weak demand float glass market generally fell

Strong supply and weak demand float glass market generally fell

Float glass market price

Analysis of float glass market

Today, the float glass market in all regions of China generally fell, with the downward adjustment concentrated at 10-50 yuan/ton; only floating glass prices in the Northeast and Northwest regions were relatively stable. The market price of 5mm large-board float glass in South China has dropped significantly, with a drop of 50 yuan/ton. Low-cost resources have increased, the supply of floating glass is relatively abundant, and the demand has started slowly, falling short of expectations. Overall, supply and demand are weak. Obviously, most manufacturers have lowered their quotations. Market transactions were average this week, with downstream procurement mainly requiring insufficient support, and float glass market prices generally fell.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 4 was 1,794.37, down 18.69 from the previous working day, or 1.03%.

Futures dynamics

According to Boduo data, the opening price of FG2405, the main glass contract, on March 4, was 1655 yuan/ton, and finally closed at 1650 yuan/ton, an increase of 0.06% within the day. The intraday high was 1658 yuan/ton, the lowest was 1608 yuan/ton, holding 591420 lots, a month-on-month +18081 lots.

Today, the glass disk fluctuates mainly within a narrow range due to the market environment. Glass itself is in a fundamental logic of strong supply and weak demand. Today, it is mainly due to the macro-level changes in related commodities that affect the mood of glass. In the short term, the mentality of downstream replenishment is still dominated by just needs, and the sustainability of replenishment still needs to see the improvement of the resumption of work in the terminal market. Before that, the glass fundamentals are temporarily difficult to reverse. However, it is necessary to pay attention to market news disturbances during important meetings.

market outlook

The upstream soda ash market remains sluggish, with manufacturers starting operations increasing within a narrow range, downstream procurement demand performing generally, the market wait-and-see attitude is heavy, and soda ash prices remain weak in the short term. The downward trend in glass costs remains unchanged, supply production capacity remains high, and downstream demand recovers slowly. Overall, supply and demand in the floating glass market are unbalanced, and the float glass market is expected to continue to consolidate in the short term.