Limited demand improvement. The glass market fell slightly month-on-month during the week (4.25 Floating Glass Weekly Review)

Limited demand improvement. The glass market fell slightly month-on-month during the week (4.18 Floating Glass Weekly Review)

1. Analysis of the float glass market

This week, China's 5mm float glass market was mainly weak and stable. In terms of price comparison, China's float glass market fell slightly month-on-month this week, with northwest, southwest, east, south and north China down by 10-70 yuan/ton. At the beginning of the week, the float glass market was relatively weak. There was heavy rainfall in some areas in the south, which blocked manufacturers 'shipments, weak price support mentality, and the focus of market transactions shifted. However, as the upstream soda ash price rose to form strong cost support, the float glass futures market followed suit, boosting the purchasing sentiment in the middle and lower reaches of the spot market to a certain extent, and prices stabilized. However, the current pre-holiday stocking efforts are limited, and the improvement of deep processing orders is limited. The float glass market just needs general support, and the improvement in terminal demand is not obvious yet. The expectation of strong supply and weak demand continues. The prices of manufacturers in the spot market have been lowered slightly compared with last week, but the current period has been affected. The resonance affects prices in the main producing areas and still show signs of stabilizing.

In terms of futures, glass prices rebounded during the week, and the overall operation was stronger month-on-month. Although the spot market quotation weakened month-on-month last week, futures prices continued to operate strongly driven by related commodities. Coupled with the pre-holiday replenishment in the middle and lower reaches, the spot market formed a certain positive feedback. Production and sales improved in the second half of the week, and factory quotations showed signs of stabilization. In the short term, the fundamental drive of glass itself is still limited. Until terminal demand and market expectations change, futures prices may still fluctuate mainly with the trend of related commodities.

2. Comparison of float glass market prices

3. Float glass inventory

The total inventory of float glass manufacturers this week was 59.932 million heavy boxes, compared with 59.196 million heavy boxes last week, an increase of 736,000 heavy boxes from last week, or 1.24%. The inventory of floating glass increased from last week.

4. Weekly operating rate of float glass

The operating rate of float glass companies this week was the same as last week. The weekly operating rate of float glass was 84.21%, with a range of 0.00%.

5. Weekly float glass output

There were 304 float glass production lines this week, of which 256 were in production. The float glass output was 1.2213 million tons, an increase of 0.80 million tons from last week, or 0.07%.