Float glass market stabilizes

 Float glass market stabilizes

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is running steadily. At present, the float glass market as a whole is still relatively weak, with poor transaction performance, strong fundamentals and weak demand continue, and limited improvement in demand. However, the futures price in the upstream soda ash futures market soared, driving sentiment in the glass futures market, and the prices of manufacturers in the spot market stopped falling and stabilized. Overall, the fundamentals of the float glass market have changed little, and the contradiction between supply and demand still exists.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on April 18 was 1,554.35, up 0.44 from the previous working day, or 0.03%.

Futures dynamics

According to Boduo data, the opening price of FG2409, the main glass contract, on April 18, was 1471 yuan/ton, and finally closed at 1512 yuan/ton, an intraday increase of +3.70%. The intraday high was 1520 yuan/ton, the lowest was 1465 yuan/ton, holding 950121 lots, and the month-on-month-on-month-on-month.

Today, glass futures prices reduced their positions significantly and rebounded due to related commodities. However, spot prices continued to decline today, market production and sales were still poor month-on-month, and terminal demand actually improved limited. However, macro sentiment has continued to pick up recently, with strong sentiment on related commodities, and glass prices mainly fluctuate under the premise of limited self-driving forces or with the market environment.

market outlook

At present, driven by related commodities, the mood of the two cities has improved. However, the supply side of the float glass spot market remains relatively high, with daily supply mainly stable, and the improvement on the demand side is limited. Market production and sales continue to weaken month-on-month. The float glass market supply is strong. Weak needs continue, and fundamentals have not been driven by positive factors. In the future, we need to guard against emotional driving, and ultimately we may return to supply and demand dominance.