Float glass market maintains stability

Float glass market maintains stability

Float glass market price

Analysis of float glass market

The market price of 5mm float glass in China today is basically stable compared with yesterday. Among them, driven by futures prices, the procurement situation of current merchants in North China is still good, and some manufacturers in Shahe District have raised their quotations within a narrow range; prices in East China remain at 1130 yuan/ton, but downstream demand is relatively weak and manufacturers 'shipments are not ideal; Prices in other regions remain relatively stable and the market trading atmosphere is flat. At present, the supply-side reduction trend in the float glass market has slowed down, downstream deep processing and terminal demand have not yet improved significantly, production and sales performance in many markets is average, and companies have a strong wait-and-see attitude.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on October 15 was 1,131.4, up 1.56 or 0.14% from the previous working day.

Futures dynamics

According to data from Boduo, the opening price of FG2501, the main glass contract, on October 15, was 1218 yuan/ton, and finally closed at 1294 yuan/ton, an increase of 6.85% within the day. The intraday high was 1317 yuan/ton, the lowest was 1208 yuan/ton, holding 1015106 lots, a month-on-month +10223 lots.

Glass futures prices rebounded sharply today, mainly driven by the news of the fiscal incremental policy and the news that the Ministry of Housing and Urban-Rural Development will restart the policy of guaranteed delivery of buildings. Glass will directly benefit as a completed commodity. From the perspective of glass fundamentals, the supply side still maintains a continuous downward trend. Although the rate of decline slowed down after the price rebounded, the direction of production capacity clearance is basically determined. The main constraint on the demand side is the weak demand for terminal real estate. However, under the current macro logic, policy expectations are to improve real estate expectations. Therefore, glass has formed simultaneous benefits from both sides of supply and demand, and the valuation of glass prices is low. The market is more sensitive to the difference between supply and demand. Expected repair. In the short term, glass may operate relatively strongly under the guidance of macro logic, but it is necessary to grasp the repeated rhythm of macro emotional ups and downs.

market outlook

The supply of goods in the float glass market is still relatively abundant, but the downstream enthusiasm for picking goods has not changed significantly, and the overall trading atmosphere is tepid; it is expected that the spot market will operate weakly and steadily in the short term, and specific changes in market sentiment still need to be paid attention to.