2.11 Glass Daily Review: Float Glass Market is Stable and Fluctuating

Float Glass Market Price

Float Glass Market Analysis
Today, the domestic 5mm float glass market price is stable and fluctuating. The wait-and-see sentiment in the downstream market in North China is still heavy, and the manufacturer's quotation remains stable; the price of some large plates in Shahe area has loosened, but the downstream purchasing willingness is insufficient, and the manufacturer's shipment performance is general. The quotation in Zhejiang, East China, has been reduced by 20 yuan/ton, and the quotation in other regions has remained the same as the previous working day, and the overall trading atmosphere is flat. At present, the supply of float glass market remains at a high capacity level, while the downstream demand has recovered slowly, the terminal resumption of work has lagged behind, and the overall market situation remains stable and fluctuating.

Futures Dynamics
According to Boduoduo data: On February 11, the opening price of the main glass contract FG2505 was 1,350 yuan/ton, and finally closed at 1,323 yuan/ton, with an intraday increase of -0.90%. The intraday high was 1,352 yuan/ton, the low was 1,319 yuan/ton, and the position was 939,623 lots, up 82,250 lots from the previous month.

Today, the price of glass futures fell from a high level. The main reason may be that the policy guidance proposed by the State Council yesterday had limited improvement on the market. After the market sentiment cooled down, it gave up yesterday's gains. At present, glass is still in the stage of waiting for verification of demand recovery. The suppression of inventory in the middle and upper reaches is still the main contradiction. The manufacturer's shipments are poor, and the market is difficult to drive. The follow-up is still dominated by oscillating operation, waiting for the resumption of work in the downstream and terminal and the swing of policy expectations.

Market Forecast
The supply of float glass market remains high, the market transaction is weak after the holiday, the downstream construction has not yet started in full swing, the demand recovery is slow, and the overall market atmosphere is slightly cold; the spot market price is expected to remain stable in the short term.

Data source: Boduoduo Data Group