Float glass market weak consolidation

Float glass market weak consolidation

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is operating weakly and steadily. Among them, most glass prices in Central and East China remain unchanged, and some manufacturers are still lowering their quotations to allow profits for shipment; some prices in the float glass market in North China have fallen, while the price of 5mm plate float glass in Shahe has continued to fall, and downstream The willingness to receive orders is still weak and the market driving force is insufficient; the quotations of manufacturers in other regions have stabilized compared with yesterday, but the wait-and-see attitude is still strong. At present, no company has carried out cold repair or ignition operations on the production line, while downstream procurement is still relatively cautious. The trend of the float glass market continues to remain weak, and the situation of strong supply and weak demand continues.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on September 3 was 1,214.51, down 7.58 from the previous working day, with a range of-0.62%.

Futures dynamics

According to Boduo data, the opening price of FG2501, the main glass contract, on September 3, was 1180 yuan/ton, and finally closed at 1143 yuan/ton, an increase of-6.16% within the day. The intraday high was 1186 yuan/ton, the lowest was 1141 yuan/ton, holding 1118979 lots, a month-on-month +66391 lots.

Glass futures continued to decline sharply today. The fundamental weakness of glass itself is still difficult to change, and spot prices continue to be lowered mainly. Although production and sales in some regions have recovered after a sharp drop in prices, inventory pressure in the middle and upper reaches is still high before terminal demand is released, making it difficult to form a rebound in prices for the time being. The actual driving force. In the future, before the supply side is cleared or the macro sentiment stabilizes, the glass market may still operate around its own weak pattern of strong supply and weak demand.

market outlook

There are still plans for ignition and cold repair of float glass in the future, and supply will be adjusted; while downstream demand is poor, it is expected that the float glass market will operate weakly in the short term before macro sentiment improves.