Float glass market is stable and weak

Float glass market is stable and weak

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is stable and weak. As of now, the price of 5mm large float glass in the North China market is stable at 1600 yuan/ton; large and small plate glass in the Shahe area has increased, and the market center of gravity has shifted upward. The price of 5mm large-plate float glass in South China has been lowered by 10 yuan/ton to 1710 yuan/ton. The weather conditions in the region are poor, manufacturers have weak willingness to support prices, and quotations are loose and downward; glass prices in the Central China market are operating weakly and steadily, with flat transaction performance, and some prices fell slightly. The East China market is relatively stable and has little fluctuations.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 23 was 1,524.28, down 1.23 or 0.08% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on May 23, was 1670 yuan/ton, and finally closed at 1659 yuan/ton, an increase of-0.66% within the day. The intraday high was 1690 yuan/ton, the lowest was 1640 yuan/ton, holding 695640 lots, a month-on-month-

Today, glass futures prices generally weakened with narrow fluctuations in the market environment. Due to the cooling of overseas interest rate cuts and the impact of geographical risks, overall funds in the commodity market mainly retreated from the market. Recently, the fundamental changes in glass itself have been limited, and the price trend is mainly driven by macro and linked commodities. The continuous rise of futures prices has driven speculative demand in the delivery area of the spot market, resulting in regional differences. In the short term, the existing glass fundamentals have faced futures prices for the time being unable to form a significant upward and downward drive. However, strong macro sentiment continues to push glass futures prices to rise, and there is no reason for the positive market in the spot market to reverse for the time being. This round of macro sentiment and rising costs are still the main influencing factors on glass futures prices, and may continue to follow the trend in the future.

market outlook

The upstream soda ash market coincides with the summer maintenance period. Supply expectations are expected to reduce costs, and the bottom support for the reduction of production profits is still acceptable. However, there is no upward momentum at present. It is expected that the float glass market will maintain a narrow range of fluctuations in the short term, and we will continue to observe the implementation of real estate policies in the future.