Float glass market is weak
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to operate weakly. Among them, float glass market prices in North China have stopped falling and stabilized, but the prices of 5mm large float glass in the Shahe region are still adjusting, production and sales continue to weaken, and downstream purchases are mainly in need; the overall price in South China has been lowered by 10 yuan/ton, and the trading atmosphere is relatively depressed. Among them, the Guangdong market prices continue to decline, with a drop of 20 yuan/ton, and the focus of transactions further moving down; quotations in the northwest and southwest regions have remained stable for the time being. The peak season of the Golden September season is approaching, but the recent weak performance of the market has dragged down downstream demand. The follow-up of orders is not ideal. The fundamentals of the float glass market temporarily lack obvious support, and market sentiment is still weak.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on August 28 was 1,244.93, down 3.36 from the previous working day, with a range of-0.27%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on August 28, was 1260 yuan/ton, and finally closed at 1252 yuan/ton, an increase of-0.32% within the day. The intraday high was 1276 yuan/ton, the lowest was 1245 yuan/ton, holding 845518 lots, a month-on-month +46665 lots.
Today, glass futures prices fell mainly with the high levels of relevant sectors. Recently, glass has been unable to continue to rebound in line with market sentiment due to its weak fundamentals. Ex-factory prices in core regions stopped falling briefly yesterday and did not continue, and were lowered again today. Restricted by weak terminal demand, the willingness to receive goods in the middle and lower reaches has never been boosted. In the short term, weak reality suppresses the price rebound, but the marginal profit of supply-side cold repair expectations is gradually trading in the distant months, while the subsequent peak season demand improvement expectations and the macro atmosphere warming expectations cannot be falsified. Short-term glass prices may still follow their own fundamentals. However, with the support of the above-mentioned bullish expectations, the downward trend may temporarily slow down.
market outlook
As the traditional peak season approaches, market expectations have increased; however, the recovery rate of downstream industries is slow, inventory pressure still exists, and has not been effectively alleviated. The recovery of prices and demand still needs further observation. It is expected that the float glass market will still operate in the short term.
