Float glass market continues to weaken

Float glass market continues to weaken

Float glass market price

Analysis of float glass market

The float glass market continued to weaken today. Transactions in the North China market were average, and the quotations of some manufacturers were still loose. The focus of market transactions shifted downward. Among them, the price of Shahe 5mm large plate float glass was lowered by 8 yuan/ton to 1404 yuan/ton. The focus of transactions in many places in the East China market continued to move downward, and the overall market price was lowered by 10 yuan/ton. Procurement in the middle and lower reaches of the Central China market is mainly purchased and used on demand, and the market trend continues to be weak. The decline in the South China market was relatively obvious, with the market price lowered by 60 yuan/ton to 1550 yuan/ton.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on July 9 was 1,432.53, down 8.15 from the previous working day, with a range of-0.57%.

Futures dynamics

According to Boduo data:July 9The opening price of FG2409, the main glass contract, was 1492 yuan/ton, and finally closed at 1503 yuan/ton, an increase of-0.60% within the day. The highest intraday session was 1514 yuan/ton, the lowest was 1484 yuan/ton, holding 678959 lots, a month-on-month period of-12934 lots.

Today, glass futures prices rebounded within a narrow range with the market environment. The fundamentals of glass itself are still difficult to effectively improve. Production and sales in the spot market are weak and stable, factory prices continue to decline, and market feedback is still poor. However, after the spot market price continues to decline, it may still open up the current arbitrage space again. In the follow-up, we still need to observe macro recurring issues before important meetings and cost support issues under weak reality.

market outlook

The favorable macro atmosphere in the early period lasted for a short period of time and did not bring further boost. However, the fundamentals of the float glass market were still relatively weak and had not improved significantly yet. It is expected that the spot market will remain under pressure and remain weak in the short term.