Float glass market is stabilizing and consolidating
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market is generally stable and volatile. The North China market was mixed, with the price of 5mm small plates in the Shahe region easing somewhat, while the price in the Beijing-Tianjin-Tangshan region increased slightly by 10 yuan/ton. The market trading atmosphere was good; prices in other regions were stable and the overall shipment performance was average. Although the market fundamentals have improved recently, the driving force for further strength is temporarily insufficient, and the production and sales of manufacturers are relatively stable; the downstream most adopt a wait-and-see attitude, mainly focusing on replenishing stocks just in need.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 13 was 1,292.8, down 1.24 from the previous working day, with a range of-0.10%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 13, was 1315 yuan/ton, and finally closed at 1336 yuan/ton, an increase of 2.14% within the day. The intraday high was 1346 yuan/ton, the lowest was 1301 yuan/ton, holding 1088267 lots, a month-on-month +9986 lots.
Today, glass futures prices rebounded mainly in shock. On the one hand, they followed the overall market sentiment game tonight, and the US CPI data stabilized the Federal Reserve and the Central Bank of China's interest rate cuts. On the other hand, glass companies have recently added new cold repair production lines, and the supply side continues to benefit. On the demand side, we still need to wait and see the ability of actual demand to carry midstream inventory. The overall glass's own fundamental improvement is expected to have strong bottom support. However, in the short term, we need to prevent midstream selling pressure after terminal demand slows down.
market outlook
Individual production lines in the float glass market are expected to undergo cold repairs, and the start of construction will drop slightly; market sentiment is weakening, the continuous motivation for downstream replenishment is low, and there is a lack of positive factors to further support the market's continued upward. It is expected that the spot market price will be in the short term. Adjustment is the main focus.
