Float glass market continues to be sluggish
Float glass market price
Analysis of float glass market
The price of 5mm float glass in China has generally declined today. Among them, the price of 5mm small plate float glass in Shahe area of North China has loosened significantly, falling 48 yuan/ton to 1120 yuan/ton. The focus of market transactions has continued to move downward, and downstream demand has not yet recovered significantly; the quotations of manufacturers in Central China have weakened, lowered by 40 yuan/ton, the overall trading atmosphere is cold; the overall price in Southwest, East China, and North China's Beijing-Tianjin-Tangshan regions has been lowered by 20 yuan/ton, and production and sales are still weak; other markets have a strong wait-and-see attitude. At present, the overall shipment situation of the float glass market is poor, and inventories remain high. The traditional peak season has not effectively boosted demand. Market sentiment has not improved, and the price center of gravity continues to decline.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on September 2 was 1,222.09, down 19.29 from the previous working day, with a range of-1.55%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on September 2, was 1264 yuan/ton, and finally closed at 1178 yuan/ton, an increase of-6.80% within the day. The intraday high was 1269 yuan/ton, the lowest was 1178 yuan/ton, holding 1052588 lots, a month-on-month +195357 lots.
Glass futures prices fell sharply today. Over the weekend, the National Statistics Bureau announced that the August manufacturing PMI was significantly lower than expected and fell to a low of 49.1 for the year. The overall commodity market sentiment was greatly frustrated. The macro sentiment driven by last week's news is difficult to sustain. After entering September, the market will gradually confirm whether demand in the peak season can improve, and the commodity market will temporarily return to fundamental logic. The fundamental weakness of glass itself continues, and terminal demand cannot be repaired. It is difficult to boost the purchasing willingness of front and downstream deep processing companies. Glass production and sales are weak, manufacturers 'quotations continue to decline, negative feedback transmission in the industrial chain cannot be broken, and the price trend remains mainly downward. On the premise that no improvement is seen in the real world of glass in the short term, the market may remain weak, but it is necessary to prevent the resurgence of macro emotions such as policy news and forming a certain short retracement market.
market outlook
Subsequent float glass still has ignition and cold repair plans, and supply will be adjusted; however, downstream demand has not recovered, actual market transactions are more difficult, and shipping pressure has increased significantly. It is expected that the prospects for recovery of the float glass market will be severe in the short term.
