Supply and demand improvement limited market is relatively calm (5.16 Floating Glass Weekly Review)

Supply and demand improvement limited market is relatively calm (5.16 Floating Glass Weekly Review)

1. Analysis of the float glass market

China's 5mm float glass market was mainly stable during the week, with some fluctuations in narrow ranges. In terms of price comparison, prices in the Northeast, Southwest, Central and Northwest markets have been stable. The East and North China markets have been increased by 10-20 yuan/ton as a whole, and the South China market has been lowered by 20 yuan/ton to 1760 yuan/ton. At the beginning of the week, the enthusiasm of the middle and lower reaches of North China to stock up was fair, and the shipment performance of manufacturers was moderate. However, market sentiment cooled down in the second half of the week, and production and sales declined. Manufacturers in the East China market are more willing to support prices, and inventories in the region have declined; the South China market has performed differently, tending to be more flexible, and some of them have profit-making promotions. Overall, the supply and demand situation in the float glass market has not changed significantly this week. Manufacturers 'quotations have not changed much, and the market is relatively calm. We will continue to pay attention to whether macro policies can bring sustainable benefits and wait for demand to be released.

In terms of futures, glass's performance during the week was first depressed and then increased, with price changes mainly following macro sentiments and the trend of related commodities. The drive of glass itself is still relatively limited. The opening of arbitrage space after the glass futures price rises again may once again have some positive feedback on the spot market. However, given that the early receipt of goods in the midstream is already strong, the ability to continue to undertake goods still needs to be observed. In the follow-up, attention can be paid to the actual downstream demand can improve to support further price increases.

2. Comparison of float glass market prices

3. Float glass inventory

The total inventory of float glass manufacturers this week was 59.484 million heavy boxes, compared with 61.206 million heavy boxes last week, a decrease of 1.722 million heavy boxes from last week, a range of-2.81%. During the week, some regions purchased appropriately in the middle and lower reaches, production and sales in the region improved, and inventories fell.

4. Weekly operating rate of float glass

This week, the weekly operating rate of float glass was 83.61%, a month-on-month period of-0.79%. The operating rate of some production lines declined during the week when water was released.

5. Weekly float glass output

This week, China's glass production lines totaled 304 after eliminating zombie production lines, of which 254 were in production. Float glass output was 1.2111 million tons, a month-on-month and a year-on-year basis of 6.68%.