Float glass spot market stabilizes

Float glass spot market stabilizes

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is running more steadily than yesterday. Float glass prices in North China are relatively stable, and transactions in the area are still good. After the May Day holiday, the market just needs to replenish the goods. The market price of 5mm specifications in Shahe market remains unchanged, and individual specifications have been slightly increased; the price in Central China remains at 1580 yuan/ton; In the East China market, manufacturers 'shipment transactions have been relatively flexible and varied; float glass prices in the South China market have fluctuated; float glass prices in the Northeast and Northwest regions have remained stable and wait-and-see.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 7 was 1,524.31, down 0.22 from the previous working day, with a range of-0.01%.

Futures dynamics

According to Boduo data, the opening price of FG2409, the main glass contract, on May 7, was 1596 yuan/ton, and finally closed at 1604 yuan/ton, an intraday increase of +2.04%. The intraday high was 1626 yuan/ton, the lowest was 1590 yuan/ton, holding 807537 lots, a month-on-month +25846 lots.

Glass futures prices rose sharply today. After the holiday, with the strong operation of futures prices, spot prices stabilized simultaneously. Some manufacturers raised expectations. Production and sales in the core area improved strongly, and positive feedback from the market was formed. However, most of them are mid-stream replenishment that accumulates arbitrage psychology after the market rises. Once the positive feedback from the market stagnates, the market will also face strong selling pressure.

market outlook

The fundamentals of the float glass market have not improved significantly. After the May Day holiday, some areas have increased replenishment, but most of them are inventory transfers between the middle and upper reaches; In terms of macro policies, the Political Bureau of the CPC Central Committee has deployed real estate work, focusing on digesting existing real estate and optimizing incremental housing. Housing, some regions have introduced and optimized real estate policies, which have formed good support for the float glass market. Glass futures prices have operated strongly, forming certain positive feedback on the spot market. We will continue to observe the continuation of feedback from the spot market.