The overall market trend declined, but the performance within each district was mixed (5.23 Floating Glass Weekly Review)

The overall market trend declined, but the performance within each district was mixed (5.23 Floating Glass Weekly Review)

1. Analysis of the float glass market

The overall trend of China's 5mm float glass market declined month-on-month, but regional prices were differentiated. In terms of price comparison, prices in the Southwest, East China, Central China and South China markets have eased and declined, with the downward adjustment concentrated at 10-50 yuan/ton; the Shahe region in North China has increased by 12 yuan/ton to 1488 yuan/ton. On the supply side, the adjustment of production lines during the week was relatively small, the start-up was relatively stable, and glass output was stable; the profit of the glass market narrowed, and there was some support on the cost side; on the demand side, the production and sales performance of various regions in China was mixed. Among them, the transaction atmosphere in North China was good, and prices were increased. However, the focus of transactions in the southern region was affected by rainfall, and manufacturers 'quotations were loose. In addition, real estate policies are frequently positive, and the market atmosphere is driven to a certain extent, forming a certain positive feedback. However, the overall trend is limited by limited changes in its own fundamentals, so we will continue to observe the implementation of real estate policies in the future.

In terms of futures, the glass week is relatively strong. The main reason is still the support of macro sentiment and policy benefits, and the profit and loss of glass prices are relatively good and are more favored by funds. The positive feedback from the spot market continues this week, and the futures price rises, and the arbitrage window continues to open. Later, we can observe the improvement of the midstream's continuous receiving capacity and the actual downstream demand.

2. Comparison of float glass market prices

3. Float glass inventory

The total inventory of float glass manufacturers this week was 59.62 million heavy boxes, compared with 59.484 million heavy boxes last week, an increase of 136,000 heavy boxes from last week, or a range of 0.23%. During the week, shipments in various regions were mixed, and inventories in the region were both up and down, and overall, a small accumulation.

4. Weekly operating rate of float glass

This week, the weekly operating rate of float glass was 83.5%, a month-on-month rate of-0.11%. The adjustment of the production line during the week was small and the start was relatively stable.

5. Weekly float glass output

This week, China's glass production lines totaled 303 after eliminating zombie production lines, of which 253 were in production. The float glass output was 1.2051 million tons, a month-on-month and a year-on-year basis of 5.92%.