The float glass market maintains weak and stable operation

The float glass market maintains weak and stable operation

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market maintained a weak and stable operation. The North China market price remained at 1610 yuan/ton. Transactions were still acceptable. Manufacturers stabilized prices for shipment, and some flexibly adjusted quotations to stimulate shipments; Southwest China continued to reduce prices, and the trading atmosphere on the market cooled down. Today, the market price fell 20 yuan/ton to 1700 yuan/ton; the market price in Central China remained at 1560 yuan/ton, and the price remained unchanged; the market price in South China was stable, with the focus on wait-and-see. Overall, transactions in the float glass market were average, demand improvement was limited, and spot performance was weaker than futures.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 29 was 1,522.6, down 0.86 from the previous working day, with a range of-0.06%.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on May 29, was 1687 yuan/ton, and finally closed at 1756 yuan/ton, an increase of 3.11% within the day. The intraday high was 1757 yuan/ton, the lowest was 1670 yuan/ton, holding 724467 lots, a month-on-month +40282 lots.

Glass futures prices opened lower and fluctuated today, with a significant increase in positions in the afternoon. Recently, the glass spot market has performed generally, with limited driving on futures prices, but it has expectations for marginal improvement in its own fundamentals. Short-term futures prices are more frequently guided by policies and expectations, and funds are repeatedly dominated. In the short term, it is necessary to observe repeated issues in macro sentiment and whether there can be strong positive feedback on the spot market after the market pulls up.

market outlook

The impact of real estate policies is gradually being transmitted to various places to boost market sentiment. The glass futures market has pulled up significantly today, but the spot market has not shown any signs of improvement. Terminal demand has been limited, manufacturers 'inventories have increased slightly, and there is no willingness to hold prices flexibly. Mainly, it is expected that the float glass spot market will remain weak in the short term, and we will pay attention to changes in market sentiment in the future.