Float glass market price weakness fell
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues its weak downward trend. Prices in Northeast China were significantly loose, falling by 60 yuan/ton to 1220 yuan/ton, and market transactions were relatively flexible; trading in North China was still weak, and the market price was lowered by 20 yuan/ton, and downstream goods were less enthusiastic; prices in Central and South China were temporarily stable, and downstream purchases were mainly in need. At present, the inventory of float glass manufacturers is still at a high level, and the focus of transactions has dropped significantly. The production and sales of most companies are weak, making it difficult to effectively remove inventories; the profits of companies producing different fuels are all in a state of loss, and the spot market has not seen significant improvement.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on September 20 was 1,080.69, down 16 from the previous working day, with a range of-1.46%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on September 20, was 1066 yuan/ton, and finally closed at 1038 yuan/ton, an increase of-0.95% within the day. The intraday high was 1068 yuan/ton, the lowest was 1030 yuan/ton, holding 1257097 lots, a month-on-month +22962 lots.
Glass futures prices fell from high today. In early trading today, due to the failure of China's interest rate cut expectations, the hype subsided yesterday and the market returned to fundamental logic. The spot price of glass continues to decline, the supply side clearing efforts have not been able to effectively improve the supply and demand relationship, and the sustainability of replenishment in the middle and lower reaches is also relatively limited under the support of manufacturers 'policies and emotions. Subsequent glass itself is still difficult to see the actual drivers appear, and it is necessary to guard against price changes caused by macro emotions such as policy news.
market outlook
There are still cold repair plans in the float glass market. Affected by macro sentiments and real estate policies in some regions, float glass fundamentals may improve marginally, but pressure to remove warehouses in the later period still exists, focusing on changes in market sentiment and the recovery of actual demand.
