Float glass market is stable and weak
Float glass market price
Analysis of float glass market
Today, the price of 5mm float glass market in China is stable and weak. Among them, the production and sales of the float glass market in North China continued to weaken, and shipments of manufacturers slowed down. The Shahe market mainly focused on flexible price adjustments and had low willingness to hold prices; the center of gravity of transaction prices in the East China market shifted downward, and the Shandong region was affected by low-price supply., float glass prices were lowered by 40 yuan/ton to 1240 yuan/ton; the transaction atmosphere in the Central China market was general, with prices lowered by 10 yuan/ton. At present, the start of the float glass market remains stable, but downstream demand has weakened month-on-month, and the wait-and-see attitude is strong; the quotations of most glass manufacturers are relatively stable, the adjustment range is limited, and some companies have operated to transfer profits.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on October 11 was 1,133.6, down 12.8 from the previous working day, with a range of-1.12%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on October 11, was 1154 yuan/ton, and finally closed at 1184 yuan/ton, an increase of 1.28% within the day. The intraday high was 1185 yuan/ton, the lowest was 1150 yuan/ton, holding 1039503 lots, a month-on-month +43227 lots.
Glass futures prices generally remained within a narrow range of fluctuations today, and rose slightly in the late session with market sentiment.Recently, the fundamentals of glass itself have not changed much. After production and sales in the spot market continued to weaken, manufacturers 'quotations were immediately lowered, and negative feedback from the market once again suppressed price space. However, we are currently in the policy window, and market fluctuations are more dominated by macro factors. First, the US cpi data released last night exceeded expectations, and the US re-inflation expectations showed signs. The market predicts that the Fed's interest rate cut rate and rate may slow down. As a result, the performance margins of commodities are theoretically stronger than other risky assets. The overall market's late pull-up may indicate that the market has certain expectations for the upcoming September China economic data. In view of the September manufacturing PMI released at the beginning of the month showing signs of recovery, the market has certain games and risk aversion for subsequent economic data. The current market volatility has narrowed, but the frequency of fluctuations has increased and market conflicts have intensified. The focus of follow-up attention will still be on whether the content of tomorrow's financial conference can provide policy guidance to further support the recovery of sentiment.
market outlook
The favorable policies have limited impact on the fundamentals of the float glass market. In addition, processing companies mainly digest pre-stocking, and downstream procurement will remain mainly in demand; it is expected that the float glass market will remain volatile in the short term.
