The float glass market is mostly downgraded
Float glass market price
Analysis of float glass market
Today, the domestic 5mm float glass market has been mostly lowered, with float glass prices in Shandong, Southwest, East China, Central China and Shahe areas in North China being lowered by 10-40 yuan/ton. The market price of 5mm large-board float glass in Shahe, North China is relatively stable. The prices of float glass in other specifications have been lowered, and the overall buying and selling atmosphere in the market has become weaker. The middle and lower reaches of the East China market are mainly in need of procurement, and the market enthusiasm is not good. The focus of transactions in Central China has dropped significantly, and shipments from manufacturers have been poor. Market prices in South China are relatively stable.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on July 3 was 1,455.51, down 10.11 from the previous working day, with a range of-0.69%.
Futures dynamics
According to Boduo data:July 3The main glass contract FG2409 opened at 1581 yuan/ton, and finally closed at 1583 yuan/ton, an increase of 1.21% within the day. The intraday high was 1585 yuan/ton, the lowest was 1551 yuan/ton, holding 621210 lots, a month-on-month +3331 lots.
Today, glass futures prices are mainly on the strong side. Due to the continued weakening of the glass spot market, the premium price of the factory price in the main production and marketing areas has driven some speculative replenishment demand in the middle and lower reaches. After the production and sales in the main production areas have rebounded, prices also show signs of stabilizing. The slight increase in futures prices today is driven on the one hand by the growth of their own speculative demand, and on the other hand by the rise in commodity prices at the cost side. It is possible to observe the sustainability of speculative demand and whether upcoming policy expectations can give new drivers. Before this, we still need to guard against selling pressure on arbitrage and hedging orders.
market outlook
Today, the float glass market price has been lowered more, downstream demand has performed poorly, and the cumulative inventory of manufacturers has increased. The spot market remains weak. It is expected that the spot market will maintain a narrow adjustment in the short term, boosted by no new positive factors, and continue to wait and see the middle and lower reaches. Follow-up feedback.
