The float glass market continues to operate in a weak manner
Float glass market price
Analysis of float glass market
Today, China's 5mm float glass market continues to operate in a weak position. Among them, the market center of gravity in North China has continued to move downward. The prices of 5mm large plate glass in the Beijing-Tianjin-Tangshan and Shahe regions have been lowered one after another. Downstream procurement is mainly needed, and manufacturers have poor shipments, and the mentality of holding prices has been further weakened; the quotation in East China has been lowered by 10 yuan/ton to 1540 yuan/ton, and the market trading atmosphere has been flat; the price in the Northeast has also been lowered by 10 yuan/ton, and production and sales in the region have further slowed down. At present, the fundamentals of the float glass market are weakening, and the willingness of middle and lower reaches to purchase is reduced. Most of them are mainly digesting their own inventories, and the market sentiment is short.
Float Glass Index Analysis
According to data from Boduo, the float glass price index on November 20 was 1,264.98, down 6.06 from the previous working day, with a range of-0.48%.
Futures dynamics
According to data from Boduo, the opening price of FG2501, the main glass contract, on November 20, was 1253 yuan/ton, and finally closed at 1251 yuan/ton, an increase of 0.32% within the day. The highest intraday session was 1262 yuan/ton, the lowest was 1242 yuan/ton, holding 1050824 lots, and the month-on-month was-15619 lots.
Today, glass futures prices remained mainly volatile in a narrow range. At present, China's macro sentiment has warmed up amid various news disturbances, and as the strength of the US dollar index slows down, overseas pressure has simultaneously eased, the overall China market seems to be stabilizing in stages and waiting for the arrival of a new policy window. From the perspective of glass itself, the long-term fundamental improvement logic has not yet been broken. The negative feedback pressure brought by the short-term midstream still needs to be observed by the further release of midstream inventories and the acceptance of actual demand. In the future, the weak and stable situation may still be maintained mainly due to fluctuations in the market environment.
market outlook
The cold repair process in the float glass market has slowed down significantly, and the supply side may rebound slightly; market sentiment has gradually subsided, downstream demand has gradually entered the off-season, and purchasing willingness has weakened. It is expected that spot market prices will mainly decline steadily in the short term.
