Float glass market continues to decline

Float glass market continues to decline

Float glass market price

Analysis of float glass market

Today's domestic market prices were lower than in most regions last Friday, and the float glass market continued to weaken. Transactions in the float glass market in North China were relatively light, and manufacturers lowered their quotations to allow sales. Among them, the Beijing-Tianjin-Hebei market price was lowered by 30 yuan/ton to 1520 yuan/ton. Manufacturers 'quotations in the East China market continue to be loose and shipments are poor. Market prices in Central China are relatively stable. The performance of the float glass market in the southwest, northwest and northeast regions is also relatively weak, with the downward adjustment concentrated at 20-30 yuan/ton.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on July 8 was 1,440.68, down 7.56 from the previous working day, with a range of-0.52%.

Futures dynamics

According to Boduo data:July 8The opening price of FG2409, the main glass contract, was 1525 yuan/ton, and finally closed at 1494 yuan/ton, an increase of-3.36% within the day. The intraday high was 1535 yuan/ton, the lowest was 1483 yuan/ton, holding 691893 lots, a month-on-month +17205 lots.

Today, glass futures prices continued to be weak and fell sharply. On the one hand, the overall commodity market environment has been weakening recently, and the macro-atmosphere has not maintained well after it warms up. On the other hand, the fundamentals of glass itself are still weak. With poor improvement in terminal demand, production and sales in the spot market are weak and stable, factory prices continue to decline, and combined with the contraction of the current arbitrage window, market feedback is difficult to continue to improve. In the follow-up, we still need to observe the macro recurring issues before important meetings and the cost support issues under weak reality.

market outlook

The demand side of the float glass market is still relatively weak. Coupled with the impact of rainfall in some areas and poor production and sales of manufacturers, the two markets are weakening simultaneously. It is expected that the spot market may remain weak and volatile in the short term.