The floating glass market shows a downward trend

The floating glass market shows a downward trend

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market has declined significantly compared with last Friday, with the adjustment range concentrated at 10-60 yuan/ton. At present, the glass market continues to be weak and declining. Over the weekend, market transaction prices have been mostly lowered. The price of floating glass in the South China market has been lowered by 60 yuan/ton, the largest drop. The transaction situation in the floating glass market in North China is poor, and there is more pessimism in the market. Among them, the floating glass of large and small plates in Shahe area has been lowered by 16-40 yuan/ton. The floating glass market in the northwest and southwest has experienced less decline, with an adjustment range of 10 yuan/ton. However, the market wait-and-see attitude has not diminished, and companies have a weak attitude towards supporting prices.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 25 was 1,600.82, down 28.86 from the previous working day, or 1.77%.

Futures dynamics

According to data from Boduo, the opening price of FG2405, the main glass contract, on March 25, was 1523 yuan/ton, and finally closed at 1489 yuan/ton, an increase of-3.94% within the day. The intraday high was 1530 yuan/ton, the lowest was 1477 yuan/ton, holding 724605 lots, a month-on-month +26489 lots.

Glass futures prices fell sharply today. The fundamentals of glass are under serious pressure. The actual terminal demand in the peak season is weak. The continuity of inventory circulation in the middle and upper reaches driven by the price insurance policy in the early stage is limited. Glass production and sales are weak over the weekend, and spot prices continue to decline. The realistic logic is difficult to improve in the short term. In the long run, affected by the weakening of new real estate starts in recent years, completion demand is also not optimistic. Glass expectations may change around the policy side after the main contract in the future is changed. In the short term, the glass market may operate in a weak and volatile manner based on the downward revision of spot prices.

market outlook

Individual soda ash companies may resume maintenance, and companies will deliver orders on hand; recently, market production and sales have been basically balanced, and downstream companies have maintained a just need to purchase. The soda ash market is expected to operate steadily, with supply and demand sides playing a game. The supply side of the floating glass market is relatively high, while the demand side has not been effectively restored, and the support for procurement in the middle and lower reaches is relatively weak. It is expected that there will still be downside risks in the float glass market in the short term.