Float glass market continues to be weak

Float glass market continues to be weak

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market continues to operate weakly and steadily. The North China market continues to weaken. The prices of 5mm plate float glass in the Shahe region continue to decline, and the prices of other specifications of glass also fall slightly; East China, Central China and Northeast China have a strong wait-and-see attitude; other markets are stable and weak, affected by weak downstream demand. Affected by weak downstream demand, manufacturers have poor shipments and weak willingness to support prices. At present, the fundamentals of the float glass market lack positive driving forces, the market trading atmosphere is not good, the focus of transactions of some companies is still moving downward, and downstream enthusiasm for obtaining goods is not high.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on September 4 was 1,211.76, down 2.75 from the previous working day, with a range of-0.23%.

Futures dynamics

According to Boduo data, the opening price of FG2501, the main glass contract, on September 4, was 1145 yuan/ton, and finally closed at 1124 yuan/ton, an increase of-3.10% within the day. The intraday high was 1158 yuan/ton, the lowest was 1114 yuan/ton, holding 1107622 lots, and the month-on-month-on-month-on-month.

Glass futures prices continued to weaken today. Affected by the slight weakening of the global manufacturing PMI released last night that was less than expected, global market fragility once again appeared, and the overall financial market immediately returned to weak operation. The fundamentals of glass itself still continue the core logic of strong supply and weak demand and cannot be broken for the time being, and the downward trend is temporarily difficult to reverse. Under the premise of doubts about the improvement of actual demand in the peak season in the short term, overall market confidence is difficult to establish, and the realistic logic cannot be given to whether policy news needs to be paid attention to before driving can bring macro emotional repair logic. Before this, the glass market may still focus on itself. Weak reality is dominated by weak operation.

market outlook

The spot supply in the float glass market remains loose. Before terminal demand is significantly released, the market will continue to maintain a pattern of strong supply and weak demand; it is expected that the float glass market will continue to operate weakly in the short term.