Float glass market stays stable and waits

Float glass market stays stable and waits

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is stable and wait-and-see, with most manufacturers in various regions offering stable prices. Float glass prices in North China are relatively stable, and transactions in the region are acceptable. Prices in the central China market continue to remain stable, with manufacturers 'shipments comparable to yesterday; the eastern China market is running steadily, with most manufacturers' quotations unchanged, and some manufacturers 'transactions relatively flexible; appropriate replenishment in the middle and lower reaches of the southern China market is mainly needed to purchase; float glass prices in the Northeast and Northwest regions continue to remain stable. Overall, the float glass market is operating relatively smoothly.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 8 was 1,524.31, down 0.00 or 0.00% from the previous working day.

Futures dynamics

According to Boduo data, the opening price of FG2409, the main glass contract, on May 8, was 1600 yuan/ton, and finally closed at 1588 yuan/ton, an increase of-1.18% within the day. The intraday high was 1610 yuan/ton, the lowest was 1581 yuan/ton, holding 817615 lots, a month-on-month +10078 lots.

Glass futures prices fell slightly today, and the intraday trend fluctuated mainly within a narrow range with the market environment. After futures prices rose yesterday, the spot market formed a certain positive feedback, and production and sales strengthened significantly. However, most of them are mainly speculative demand for current arbitrage, and the duration of positive market feedback needs to be considered. Subsequent futures price sentiment may face strong selling pressure after cooling down.

market outlook

Recent real estate policies have provided positive support for the float glass market. Glass futures prices have operated strongly, which has formed a certain positive feedback on the spot market. However, the positive boost is relatively short-lived. In addition, the relatively abundant supply side of the float glass market continues, and supply and demand improvement is limited. It is expected that float glass may continue to maintain a wait-and-see attitude in the short term and continue to observe the improvement of the demand side in the future.