2.17 Glass Daily Review: Float glass market is weak

Float glass market analysis
Today, the overall trend of the domestic 5mm float glass market is down. Prices in North China and East China generally dropped by 20 yuan/ton, and the market trading atmosphere is poor; among them, the price of 5mm large and small plates in Shahe, North China has fallen compared with last Friday, and production and sales are low; prices in Jiangsu have loosened significantly, dropping by 40 yuan/ton, and manufacturers' shipment performance is still poor. Overall, there are slight fluctuations in the supply side of the float glass market, while the downstream real estate industry is not in good condition for resumption of production, and is mostly on the sidelines, and market prices are under pressure.

Futures dynamics
According to Boduoduo data: On February 17, the opening price of the main glass contract FG2505 was 1261 yuan/ton, and it finally closed at 1271 yuan/ton, with an intraday increase of 0.39%. The highest price was 1278 yuan/ton, the lowest was 1243 yuan/ton, and the position was 1175056 lots, an increase of 36105 lots month-on-month.

Today, the price of glass futures fluctuated narrowly with the market environment. The fundamentals of glass itself have not changed much recently. The main contradiction is that the downstream demand for resumption of work after the holiday is limited, the midstream inventory pressure is difficult to ease, and the selling pressure on the market price is strong. In the short term, we should focus on the sentiment driven by changes in the cost side and the recovery of actual demand in the downstream.

Market forecast
The supply of float glass market remains high, the downstream demand recovery is slow, the market transaction is weak, and the overall market atmosphere is slightly cold; in the short term, the spot market price is expected to be stable with small fluctuations.

Data source: Boduoduo Data Group