Float glass market prices are still rising slightly
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to rise steadily. Among them, the market price of float glass in East China, Northeast China, Northwest China and Southwest China increased by 10 yuan/ton; the overall increase in North China increased by 20 yuan/ton, and the 5mm large board in Shahe area increased by 32 yuan/ton to 1284 yuan/ton. The 5mm small board also increased in a narrow range by 16 yuan/ton. The enthusiasm for purchasing in the middle and lower reaches remains high, and manufacturers offer flexibly; the quotations in other regions are relatively stable. At present, the overall operation of the float glass market is strong, the focus of market transactions has further shifted, the shipment situation is good, the market supply is gradually digested, and the mentality of manufacturers to support prices has increased.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 8 was 1,295.89, up 19.16 or 1.50% from the previous working day.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 8, was 1389 yuan/ton, and finally closed at 1353 yuan/ton, an increase of-1.89% within the day. The intraday high was 1410 yuan/ton, the lowest was 1342 yuan/ton, holding 1152908 lots, a month-on-month +68987 lots.
Today, glass futures prices surged higher and fell mainly with market macro sentiment. Overseas, the Federal Reserve cut interest rates as scheduled last night, further freeing up room for China's interest rate adjustment. Coupled with the market's expectations for the implementation of today's important meeting in China, prices surged rapidly in early trading. However, market sentiment was immediately greatly frustrated by market rumors that the announcement of China's incremental policy today would fall short of expectations. In the short term, we will observe whether the market pricing is in line with the current fundamentals after the release of macro sentiment before making a decision.
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.
