Float glass market is weak
Float glass market price
Analysis of float glass market
Today, the price of 5mm float glass in China remains stable and weak. Market confidence in East China is lacking. Prices in Shandong have been significantly lowered, dropping by 50 yuan/ton to 1190 yuan/ton, making market transaction prices flexible; market prices in Northeast China and North China Beijing-Tianjin-Tangshan regions have been lowered by 20 yuan/ton, and manufacturers 'shipments are average; In South China, shipments are mainly at stable prices, and downstream purchasing sentiment has weakened; manufacturers in Central China are mostly stable, and downstream purchases are mainly in need. At present, glass manufacturers have successively completed pre-order shipments, and the downstream mainly digested inventories. Demand has dropped significantly, and the fundamentals of the float glass market are still weak.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on October 14 was 1,129.84, down 4.45 from the previous working day, with a range of-0.39%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on October 14, was 1184 yuan/ton, and finally closed at 1226 yuan/ton, an increase of 5.33% within the day. The intraday high was 1248 yuan/ton, the lowest was 1164 yuan/ton, holding 1004883 lots, a month-on-month-on-month-on-month.
The overall performance of glass futures prices was strong today, and rebounded sharply on Friday night due to policy expectations. However, the contents of the Ministry of Finance's press conference on Saturday have not yet been announced that significantly exceeded expectations. The market's excessive sentiment was limited, and data such as September's PPI still weak led to a rapid fall in early trading. However, the macro upward logic has not been broken, policy expectations have not been falsified, and emotions remain strong and volatile after being released. In addition, after the market rebounded, the spot market responded quickly over the weekend, and production and sales in the core areas strengthened again, which also provided certain support for prices. In the short term, the sustainable issue of practical improvement in glass still needs to be considered. Actual demand may not support a sharp rebound in prices for the time being. However, under the disturbance of policy expectations, it is not appropriate to be overly pessimistic for the time being.
market outlook
In the future, some float glass production lines are still planned to undergo cold repair, and supply expectations have dropped; downstream purchases are mainly based on appropriate amounts, and the trading atmosphere is weak; it is expected that the float glass market will remain volatile in the short term, and specific changes in market sentiment still need to be paid attention to.
