The float glass market generally declined compared with the pre-holiday period

The float glass market generally declined compared with the pre-holiday period

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market generally declined compared with the pre-holiday. The float glass market in North China is relatively weak, down 10 yuan/ton to 1580 yuan/ton compared with the pre-holiday. The 5mm small float glass market in Shahe area is relatively stable, and the price of 5mm large float glass has dropped 4 yuan/ton; The float glass price in Central China market has been lowered by 30 yuan/ton to 1570 yuan/ton, and the transaction of enterprises is relatively flexible; the trading atmosphere in the East China market is poor, with float glass prices falling significantly in Anhui and Zhejiang and Jiangsu regions being relatively stable; The South China market has been downgraded within a narrow range. Some areas are still affected by rainfall and weather, and manufacturers 'shipments have been flat.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 6 was 1,524.53, down 5.8 from the previous working day, with a range of-0.38%.

Futures dynamics

According to Boduo data, the opening price of FG2409, the main glass contract, on May 6, was 1528 yuan/ton, and finally closed at 1597 yuan/ton, an intraday increase of +2.97%. The intraday high was 1606 yuan/ton, the lowest was 1528 yuan/ton, holding 781691 lots, a month-on-month +7640 lots.

Glass futures prices rose sharply today. During the holidays, production and sales in the core areas of glass weakened first and then strengthened. Although the ex-factory quotation fell month-on-month before the holiday, there were still signs of stabilizing. Futures prices rose correspondingly today, but more bullish sentiment may be supported by the macro perspective. After the important pre-holiday meeting, the market's expectations for real estate policies, monetary policies, etc. rose again. In the short term, we can observe whether the spot market can maintain its stability after stabilizing. If the spot market feedback is average, then the futures price will still face strong arbitrage selling pressure after rising.

market outlook

The supply side of the upstream soda ash market has stabilized but moved slightly, and manufacturers 'production and sales are still good. In the short term, the soda ash market may continue to maintain a high level of consolidation. During the May Day holiday, the fundamental adjustment of the float glass market was limited. After the holiday, manufacturers 'inventories increased, and the supply side remained relatively loose. Overall, it is expected that the float glass market will remain weak and stable in the short term until terminal demand improves significantly.