Float glass market temporarily stable operation

Float glass market temporarily stable operation

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is temporarily stabilizing. Production and sales in the North China market are stable and strong. Most manufacturers 'quotations are stable, and some manufacturers' quotations are raised. The prices in the Central China market remain at 1560 yuan/ton and continue to be stable; in South China, market prices have stopped falling and stabilized. Purchase is just needed in the middle and lower reaches, and manufacturers are mainly shipping. Float glass's fundamentals have been adjusted relatively little, policy support has been strengthened, market sentiment has improved, and the futures market has been operating at a high level in night trading. However, given the limited improvement in the spot market, it has dragged the market down.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on May 30 was 1,524.37, up 1.77 or 0.12% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on May 30, was 1760 yuan/ton, and finally closed at 1713 yuan/ton, an increase of 0.29% within the day. The intraday high was 1767 yuan/ton, the lowest was 1698 yuan/ton, holding 686552 lots, a month-on-month-on-month-on-month.

Today, glass futures prices opened higher and lower, mainly due to the impact of yesterday's policy documents, resulting in repeated funds. 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. In the short term, futures prices are more frequently guided by policies and expectations, and funds are repeatedly dominated. In the follow-up, we need to observe the continued problems of macro sentiment and whether the continued rise in market prices can form a sustained positive feedback on the spot market.

market outlook

Yesterday, the State Council issued a notice on issuing the "2024-2025 Action Plan for Energy Conservation and Carbon Reduction" to promote energy conservation and carbon reduction transformation in the building materials industry. Coupled with the recent frequent real estate policies, the sentiment in the glass futures market has been driven, but the actual impact on the current spot market is limited. It is expected that in the short term, the float glass market will stabilize prices and wait and see to observe changes in market sentiment and the transmission of policies from the end to the demand end.