Float glass market is weak

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market is generally stable and declining. Among them, float glass prices in Northeast and Southwest regions have been lowered by 10 yuan/ton overall. As the Mid-Autumn Festival holiday is approaching, the downstream purchasing atmosphere is general; prices in North China are more loose, and prices in Shahe and Beijing-Tianjin-Tangshan regions have dropped by 4-32 yuan/ton. Manufacturers have reduced shipments; manufacturers in other individual regions have moderately made up for the decline, but most of the quotations have temporarily stabilized and have a heavy wait-and-see attitude. At present, the float glass market has experienced cold repair and conversion of some production lines, and the operating rate has dropped slightly; while downstream demand continues to be weak, the market maintains a weak consolidation trend.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on September 13 was 1,123.36, down 13.08 from the previous working day, with a range of-1.15%.

Futures dynamics

According to data from Boduo, the opening price of FG2501, the main glass contract, on September 13, was 1048 yuan/ton, and finally closed at 1021 yuan/ton, an increase of-3.22% within the day. The intraday high was 1064 yuan/ton, the lowest was 1018 yuan/ton, holding 1236548 lots, a month-on-month +19833 lots.

Glass futures prices continued to weaken today, hitting a new low in intraday trading. On the one hand, important meetings were held within the week, policy expectations were temporarily frustrated, and overall market sentiment began to fall. On the other hand, the fundamentals of glass itself have not improved significantly, prices lack upward drive, long funds face pre-holiday institutional constraints, and late market prices accelerate downward. The follow-up focus will be on observing whether the supply side has accelerated clearing after there is no hope of improvement in demand during the peak season, so as to make up for the gap between supply and demand to a certain extent.

market outlook

Profits in the float glass market are at historically low levels, and the willingness of the supply side to cold repair has increased; the demand side lacks support from positive factors, and it is expected that the float glass market will continue to maintain a weak operation in the short term.