The floating glass market continues to fall

The floating glass market continues to fall

Float glass market price

Analysis of float glass market

Today, the 5mm float glass market in various regions of China continues to decline, with the downward adjustment concentrated at 4-20 yuan/ton; floating glass prices in Northeast, South and Northwest regions are stable. The market price of 5mm large-plate float glass in North China has been lowered by 10 yuan/ton, corporate quotations have continued to be lowered, and the downstream wait-and-see mentality has not diminished. The decline in Beijing, Tianjin and Hebei has been significant, and 5mm large-plate float glass has been lowered by 20 yuan/ton. The trading atmosphere for floating glass in East China is weak, with glass prices in Anhui and Shandong being lowered by 10-30 yuan/ton. The floating glass market in Central China continues to weaken, with shipments at reduced prices.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 6 was 1,767.37, down 7.65 from the previous working day, or 0.43%.

Futures dynamics

According to data from Boduo, the opening price of FG2405, the main glass contract, on March 6, was 1635 yuan/ton, and finally closed at 1644 yuan/ton, an increase of-0.24% within the day. The intraday high was 1649 yuan/ton, the lowest was 1620 yuan/ton, holding 618512 lots, a month-on-month +11916 lots.

Today, the glass disk is mainly recovering with the market environment bottoming out. Glass itself is in the realistic logic of strong supply and weak demand, and the intraday trend is mainly weak and volatile. However, in the afternoon, as the market has certain positive expectations for the later China economic meeting, overseas inflation data, and the Federal Reserve Chairman's speech, the overall market The macro sentiment has rebounded. In the short term, glass supply remains high and stable, and the mentality of downstream replenishment is still dominated by just demand. The sustainability of replenishment still requires an improvement in the resumption of work in the terminal market. Before this, glass fundamentals are temporarily difficult to reverse. However, the current downside is supported by marginal costs, and the driving force is limited. It is necessary to pay attention to subsequent macro changes that affect the mentality of holding positions and cause violent fluctuations.

market outlook

The upstream soda ash market is dominated by low-price transactions, with supply start-ups and small changes. The overall downstream demand performance is average. Manufacturers 'shipment speeds are slow, and transactions in the soda ash market are moderate. The weak attitude of the floating glass market remains unabated. Downstream procurement is mainly in need of replenishment, and the market price support is insufficient. Some manufacturers continue to lower their quotations, and it is expected that the floating glass market price will continue to fall in the short term.