Float glass market prices rise sharply
Float glass market price
Analysis of float glass market
The market price of 5mm float glass in China has risen sharply today compared with the pre-holiday period, with an increase of 64-140 yuan/ton. Among them, the focus of transactions in the East China market continued to move upwards, with prices increased by 140 yuan/ton to 1350 yuan/ton, and manufacturers 'shipments were in good condition; production and sales in Central, South and Southwest China maintained a high level, downstream goods were actively receiving goods, and glass manufacturers' shipments accelerated. The pace of shipments accelerated and inventories fell; float glass prices in other regions have also increased one after another, and the market trading atmosphere is good. During the holiday, two float glass production lines were under cold repair, and the production lines that had been ignited in the early stage had also produced glass. The overall operating rate fluctuated within a narrow range; downstream deep processing orders increased month-on-month, and glass manufacturers 'inventories maintained a trend of dewarehousing. Market sentiment was significantly boosted. The price rebound has increased.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on October 8 was 1,175.36, an increase of 76.45 or 6.96% from the previous working day.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on October 8, was 1338 yuan/ton, and finally closed at 1212 yuan/ton, an increase of-3.43% within the day. The intraday high was 1351 yuan/ton, the lowest was 1184 yuan/ton, holding 913660 lots, a month-on-month +56230 lots.
Today, glass futures prices mainly opened high and went low. During the National Day holiday, the glass transaction atmosphere in core areas was relatively hot, and the quotations continued to increase month-on-month. Although downstream deep processing companies did have a certain replenishment and their own orders improved month-on-month, most of the demand was still in the midstream arbitrage link. After the holiday, macro sentiment also fell back at a high level. The content of the National Development and Reform Commission's press conference temporarily failed the market's expectations for stronger policy adoption. The regulatory level also controlled market liquidity to cool the market. On this basis, glass futures prices weakened by the resonance of the decline in macro sentiment and industry selling pressure. However, overall, although macro sentiment has declined, it has not completely subsided, and the issues of subsequent policy increases and expected improvements cannot be falsified. The market may mainly wait for new drivers.
market outlook
With the support of favorable policies, it is expected that the float glass market will operate strongly in the short term, and downstream replenishment demand after the holiday may push up spot prices in stages. In the follow-up, attention should be paid to the persistence of replenishment and the impact of changes in market sentiment on prices.
