Glass futures continue to fall, and spot market trading sentiment is weak

Glass futures continue to fall, and spot market trading sentiment is weak

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market price stabilized and declined. Production and sales in the float glass market in North China have weakened, shipments from manufacturers have slowed down, prices in the Shahe market have been mainly adjusted flexibly, and the willingness to hold prices is weak. Float glass prices in the southwest market fell by 20 yuan/ton to 1630 yuan/ton. High-end prices in the region fell, and the market transaction atmosphere was flat. The center of gravity of transaction prices in the Central China float glass market has declined, and the market price has been lowered by 10 yuan/ton. The quoted prices in the East China market are relatively stable and the adjustment is limited. Float glass prices in South China remain at 1690 yuan/ton.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on June 17 was 1,530.75, down 3.25 from the previous working day, with a range of-0.21%.

Futures dynamics

According to data from Boduo, the opening price of FG2409, the main glass contract, on June 17, was 1669 yuan/ton, and finally closed at 1682 yuan/ton, an increase of 1.08% within the day. The intraday high was 1696 yuan/ton, the lowest was 1655 yuan/ton, holding 658015 lots, a month-on-month +165 lots.

Glass futures prices performed relatively strongly today, with overall remaining strong and volatile. Although the current fundamentals of glass itself have limited improvement, supply and demand expectations have shown marginal changes, and its absolute price is not high, and the room for decline is relatively limited. In the future, we need to continue to pay attention to whether the overall commodity market environment can stabilize, and glass may remain dominated by wide fluctuations before new drivers emerge.

market outlook

Recently, macro data in May announced that real estate development investment from January to May fell year-on-year, housing construction area fell year-on-year, and completed area fell year-on-year. All data were weak. Real estate data has not improved significantly, which has been transmitted to the float glass spot market sentiment has weakened. It is expected that the float glass market will absorb mainly negative emotions in the short term, and the market trend will weaken.