Float glass market continues to fall
Float glass market price
Analysis of float glass market
Today, the focus of transactions in China's 5mm float glass market continues to decline. The market price of float glass in North China is still falling. The transaction situation of 5mm large float glass in the Shahe region is still not ideal, and the price has been lowered by 12 yuan/ton to 1200 yuan/ton; Manufacturers in South China have reduced prices and shipped, among which the price of 5mm large plates in Guangdong has dropped significantly, with a drop of 30 yuan/ton; prices in central and southwestern regions have temporarily stabilized, but trading performance has been weak; glass companies in other regions have mostly followed low prices to ship, but the market response has been poor. At present, float glass manufacturers are operating relatively stable, but their ability to withstand downstream demand has gradually weakened, spot prices have continued to fall, and market pessimism has further spread.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on August 23 was 1,275.58, down 6.29 from the previous working day, with a range of-0.49%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on August 23, was 1261 yuan/ton, and finally closed at 1251 yuan/ton, an increase of-3.47% within the day. The intraday high was 1268 yuan/ton, the lowest was 1245 yuan/ton, holding 748001 lots, a month-on-month +18414 lots.
Glass futures prices continued to decline sharply today, and intraday trends mostly fluctuated synchronously with the sector.After the policy news that drove market sentiment to rebound in the early stage comes into effect, the market needs to wait and observe the actual improvement. Before that, the logic of commodity demand peaking and falling back still suppresses the market. The fundamentals of the glass itself have not seen a significant improvement in the short term. Spot production and sales have been lukewarm. The quotations of manufacturers in core areas continue to be lowered. Negative feedback from the industry continues. The glass market is rarely driven by optimism. In the short term, what can be expected is still the end market in the subsequent peak season. Demand improvement issues.
market outlook
Next week, the supply will be reduced due to the cold storage and repair plan for individual float glass production lines; the peak season is approaching, and the spot price of float glass has dropped to a low level. However, whether there is a new round of demand for centralized replenishment in the middle and lower reaches remains to be paid attention. Spot market prices are expected to continue to be consolidated within a narrow range in the short term.
