Float glass market continues to be weak and downward
Float glass market price
Analysis of float glass market
Today, the domestic 5mm float glass market continues to be weak. Float glass prices in the East, Southwest and South China markets fell by 10 yuan/ton overall. The downstream procurement situation was general, mostly due to demand; trading in the North China market was flat, and the price of 5mm large float glass in the Shahe area was under upward pressure, and production and sales remained weak; the quotations of manufacturers in the Northeast region continued to loosen, lowered by 20 yuan/ton to 1450 yuan/ton. The focus of market transactions declined, and terminal demand did not recover; prices of companies in other regions stabilized and the wait-and-see attitude increased. Today, some manufacturers are on fire. As new production capacity is gradually released, the oversupply situation has intensified and inventory pressure continues to increase.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on July 18 was 1,366.44, down 3.02 from the previous working day, with a range of-0.22%.
Futures dynamics
According to data from Boduo, the opening price of FG2409, the main glass contract, on July 18, was 1444 yuan/ton, and finally closed at 1459 yuan/ton, an increase of 0.97% within the day. The intraday high was 1469 yuan/ton, the lowest was 1439 yuan/ton, holding 743645 lots, and the month-on-month-on-month-on-month.
Today, glass futures prices rebounded slightly with the market environment, mainly because the market still had policy expectations after the implementation of important meetings, and some short funds left the market as a safe haven. The spot market remains mainly weak, manufacturers 'quotations continue to be lowered, and actual and effective improvements are also temporarily unable to be seen on the demand side. After short-term repeated macro problems are implemented, the market may remain weak and wait for new drivers.
market outlook
The operating rate of the float glass market remains at a high level, the decline in demand is difficult to alleviate, the fundamentals of supply and demand are still not obvious, and inventories continue to increase. Market prices may fall further in the short term, and the spot market remains weak.
