Float glass market prices continue to rise steadily
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to be stable and improving. The transaction atmosphere in North China has improved significantly, with prices raised by 30 yuan/ton to 1310 yuan/ton, accelerating the pace of shipments; purchasing enthusiasm in the middle and lower reaches of Northeast and Southwest regions continues, and manufacturers 'quotations have increased slightly by 10 yuan/ton; prices in other regions are generally stable, with individual specifications rising, and the market mentality is more cautious. At present, the float glass market has started to decline slightly, and supply pressure has eased; the trend of improving demand continues. Driven by the news of price increases, manufacturers 'inventories have continued to decline, supporting a stable and rising overall market.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 6 was 1,269.16, up 14.83 or 1.18% from the previous working day.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 6, was 1400 yuan/ton, and finally closed at 1383 yuan/ton, an increase of 1.69% within the day. The intraday high was 1408 yuan/ton, the lowest was 1364 yuan/ton, holding 1068175 lots, a month-on-month-on-month-on-month.
Glass futures prices fell mainly from high levels today, but the overall performance remained strong. mainly due toTrump predicts victory in today's U.S. election. The market prioritizes his negative policies towards China after taking office, and the overall macro sentiment in the China market has cooled down. However, the fundamentals of glass itself are still relatively strong in stages, with marginal support from both sides of supply and demand, and the market is still looking forward to the incremental policies after the important meeting in China this week. Overall, the current glass fundamentals are relatively strong, but the upper cost pressure is still relatively large. In the future, we need to continue to pay attention to whether actual demand can absorb midstream inventory before deciding whether the cost pressure can be broken through.
market outlook
The production and sales situation in the float glass market has improved, and there is a wait-and-see attitude in the early cold repair plan; inventory continues to be depleted to provide support for price upward; spot market prices will be adjusted mainly in a narrow range in the short term, and future price trends still need to pay attention to the persistence of the demand side recovery.
