12.24 Glass Daily Review: Float Glass Market Price Maintains Weak Adjustment

Float Glass Market Price

Float Glass Market Analysis
Today, the overall domestic 5mm float glass market price is weak: the prices in Northeast, Northwest, East China, Central China, and South China remain stable, the market demand changes are limited, and manufacturers mainly deliver goods flexibly; the quotations in North China are mixed; the price in Southwest China is reduced by 20 yuan/ton to 1,380 yuan/ton, the trading atmosphere in the region has become weak, and the downstream purchasing intention is weak. Overall, the current float glass market operating rate has declined, the downstream rush demand at the end of the year is insufficient, the enthusiasm for replenishment is not high, the market trading atmosphere continues to be sluggish, and most manufacturers maintain stable operation.

Futures Dynamics
According to Boduoduo data: On December 24, the opening price of the main glass contract FG2505 was 1,379 yuan/ton, and finally closed at 1,396 yuan/ton, with a daily increase of 1.68%. The highest intraday price was 1,398 yuan/ton, the lowest was 1,366 yuan/ton, and the position was 698,836 lots, up 10,170 lots month-on-month.

Today, the price of glass futures was strong, and it rose rapidly in the late trading with the market environment. The main reason is that the overall market macro environment has warmed up today. The working meetings of the Ministry of Finance and the Ministry of Housing and Urban-Rural Development in the morning provided some support to the market. In the afternoon, the market once again heard the news that a large amount of special government bonds would be issued next year to boost the economy, and the domestic financial market as a whole rebounded sharply. The fundamentals of glass itself have not changed much. The main driving force for the rise is the expectations of macro policies and the fluctuations of soda ash prices on the cost side. In the short term, we will wait and see the sustainability of the recovery of the market's macro atmosphere and how the subsequent disturbances on the cost side will be interpreted.

Forecast for the future market
Some float glass manufacturers will have cold repair plans in the future, and the supply will decrease; as the expectation of winter storage gradually emerges, there may be a phased replenishment demand in the downstream, and some manufacturers have plans to increase prices. In the short term, market prices are expected to be stable, and there may be slight adjustments in some areas.