The weak fundamentals of glass continue

The weak fundamentals of glass continue

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market continues to be weak, with floating glass prices falling by 10-30 yuan/ton in southwestern, eastern and southern China markets. Trading conditions in the North China market are general, and the prices of floating glass with 5mm plates and sizes in the Shahe area have been lowered. The fundamentals of floating glass remain weak, the market is not enthusiastic about getting goods, demand continues to be weak, the glass market has not yet seen a significant improvement, company quotations are relatively flexible, and the market remains downward.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on March 28 was 1,563.91, down 10.73 from the previous working day, or 0.68%.

Futures dynamics

According to data from Boduo, the opening price of FG2405, the main glass contract, on March 28, was 1470 yuan/ton, and finally closed at 1455 yuan/ton, an increase of-2.74% within the day. The intraday high was 1487 yuan/ton, the lowest was 1454 yuan/ton, holding 672257 lots, a month-on-month increase of 2122 lots.

Glass futures prices continued to weaken today. Spot prices continue to fall, terminal market demand is difficult to be optimistic, deep processing companies lack purchasing enthusiasm, and the pattern of accumulating stocks continues during the week. Although there were small policy comments that were positive today, the boost to the commodity market in the current real stage of trading was limited. In the short term, glass prices may continue to be weak before there are no signs of improvement in reality.

market outlook

Some upstream soda ash manufacturers maintain reduced production, and the overall supply side is stable and small; the market is mainly in need of procurement and has a strong wait-and-see attitude, and soda ash prices may continue to fluctuate and adjust within a narrow range. The operating rate of the supply side of the floating glass market has been relatively stable and has not been adjusted, while the demand side has not yet recovered. The situation of strong supply and weak demand continues, and the overall poor shipment market lacks driving force. It is expected that the float glass market will continue to be weak in the short term.