Float glass market is running in a weak position

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April 16, 2024, 4:20 PM

Float glass market price

market	model	April 15	April 16	rise and fall	units
northeast	5mm large plate	1720	1720	0	Yuan/ton
Northwest	5mm large plate	1720	1720	0	Yuan/ton
Southwest	5mm large plate	1810	1810	0	Yuan/ton
East China	5mm large plate	1840	1840	0	Yuan/ton
Huazhong	5mm large plate	1610	1600	-10	Yuan/ton
South China	5mm large plate	1860	1860	0	Yuan/ton
North China	5mm large plate	1620	1610	-10	Yuan/ton
Beijing, Tianjin and Tangshan	5mm large plate	1640	1640	0	Yuan/ton
Shahe	5mm large plate	1496	1492	-4	Yuan/ton
Shahe	5mm small plate	1412	1408	-4	Yuan/ton

Analysis of float glass market

China's 5mm float glass market continues to weaken today, with float glass market prices in North China continuing to be lowered by 10 yuan/ton to 1610 yuan/ton yesterday. Most manufacturers in the 5mm glass market in Shahe area lowered their quotations, resulting in poor shipments and poor trading atmosphere in the area. The float glass market in Central China also fell mainly, with a weak attitude towards supporting prices; manufacturers in other regions continued to maintain a wait-and-see attitude. Overall, the phased stocking of the float glass market has ended, the production and sales rates of manufacturers have dropped, and the market has gradually returned to dullness.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on April 16 was 1,558.55, down 2.49 or 0.16% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on April 16, was 1468 yuan/ton, and finally closed at 1458 yuan/ton, an increase of-1.15% within the day. The intraday high was 1474 yuan/ton, the lowest was 1448 yuan/ton, holding 989950 lots, a month-on-month +43432 lots.

Today, glass futures prices are weak and mainly volatile. Today, spot prices continue to decline, production and sales are weak month-on-month, terminal demand performance is average, midstream processing capacity is limited, disk hedging pressure is high, glass prices may continue to operate on a weak basis in the short term.

market outlook

The supply-side production line adjustments in the float glass market remain relatively high, the supply of glass resources is relatively abundant, the demand side stocking has come to an end, the market has gradually returned to dull, the float glass market is strong and weak supply and demand have once again become prominent, and terminal demand improvement is limited. It is expected that in the short term, the float glass market lacks upward momentum and has more downward momentum.