Float glass market continues to decline

 Float glass market continues to decline

Float glass market price

Analysis of float glass market

Today, the market price of 5mm float glass in China has been lowered by 10-30 yuan/ton. So far, prices in East China have been lowered by 30 yuan/ton to 1770 yuan/ton; in the northwest, they have been lowered by 10 yuan/ton; rainfall in some areas of the South China market has increased, manufacturers 'shipments have been blocked, and the mentality of holding prices has weakened. The focus of market transactions has shifted down by 30 yuan/ton; The market trading atmosphere in North China is general, with the price of 5mm small plates in Shahe being lowered by 8 yuan/ton. The fundamentals of the float glass market still maintain a situation of oversupply, and the middle and lower reaches are less motivated to obtain goods, mainly digesting their own inventories.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on April 23 was 1,529.68, down 11.27 from the previous working day, with a range of-0.73%.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on April 23, was 1526 yuan/ton, and finally closed at 1515 yuan/ton, an increase of-0.79% within the day. The intraday high was 1541 yuan/ton, the lowest was 1506 yuan/ton, holding 928153 lots, a month-on-month-on-month-22328 lots.

Glass futures prices fell slightly today. Recently, production and sales in the glass spot market have been repeated, factory prices have remained stable, futures prices lack their own fundamentals, and intraday market fluctuations are mainly based on the market environment and related commodities.

market outlook

The contradiction between supply and demand in the float glass market still exists. Coupled with the arrival of the plum rainy season in the southern region, manufacturers have raised prices or weakened them, and the phenomenon of profit-making promotions has increased. Terminal real estate data is still weak, and market worries remain unabated. It is expected that the float glass market will continue to operate weakly in the short term without significant improvement in demand.