Float glass market prices continue to fall

Float glass market price

Analysis of float glass market

China's 5mm float glass market today generally declined compared with yesterday. Among them, the decline in Central China was more obvious, with the price of 5mm float glass lowered by 40 yuan/ton to 1150 yuan/ton; the market price of float glass in Southwest, East and North China was lowered by 20-36 yuan/ton, while market prices in other regions were flat; Downstream and terminal demand in the Shahe region of North China has recovered slowly, and manufacturers 'shipments continue to be poor. At present, the float glass market continues to be weak and declining, with most market transaction prices falling, and profits also weakening; the fundamental contradiction of glass has not changed, and market sentiment remains depressed.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on September 6 was 1,172.02, down 25.91 from the previous working day, with a range of-2.16%.

Futures dynamics

According to data from Boduo, the opening price of FG2501, the main glass contract, on September 6, was 1135 yuan/ton, and finally closed at 1123 yuan/ton, an increase of-1.49% within the day. The intraday high was 1141 yuan/ton, the lowest was 1111 yuan/ton, holding 1095876 lots, a month-on-month increase of 506 lots.

Today's glass futures prices were mainly low and volatile. The fundamental weakness of glass continued, but after a sharp decline at the beginning of the week, further downward efforts slowed down relatively. After the market returns to the weak reality logic, there is still no sign of improvement in demand during the peak season. From the perspective of the demand side, the trend is still difficult to reverse. However, from the perspective of the supply side, if subsequent demand cannot improve, it may face the problem of accelerated cold repairs. Therefore, the current price has the expected support of accelerating supply clearing after the transaction is completed and weak. However, before the demand side improves, it will take time to observe if the supply and demand relationship is balanced. In the short term, although the price decline has slowed down, the negative feedback from the industrial chain has not stagnated, and prices have not yet seen an upward drive for the time being.

market outlook

Next week, the spot supply in the float glass market will remain loose, downstream demand will be sluggish, and the spot market is not expected to improve, and the pattern of strong supply and weak demand will continue to be maintained; it is expected that the float glass market will continue to operate weakly in the short term.