3.10 Glass Daily Review: Float glass market shifts downward

Float glass market price

Float glass market analysis
Today, the domestic 5mm float glass market continued to fall, with the price reduction concentrated in 10-40 yuan/ton. Among them, the price of 5mm large plate glass in Central China was reduced by 40 yuan/ton, with the largest drop. Affected by the strong wait-and-see sentiment of downstream, manufacturers' shipments were not smooth, and they mainly reduced prices for promotion; the market trading atmosphere in North China, Northeast China and East China was weak, and the quotations of manufacturers in Shahe area continued to fall. The price of 5mm large plate glass in Beijing, Tianjin and Hebei was reduced by 10 yuan/ton. At present, the float glass market lacks effective positive support, the pressure on manufacturers to ship has increased, the rhythm of production and sales has slowed down, and some regions have been impacted by low-priced sources. The market lacks confidence in holding prices, and the price center of gravity still has a downward trend.

Futures dynamics
According to Boduoduo data: On March 10, the opening price of the main glass contract FG2505 was 1,180 yuan/ton, and finally closed at 1,143 yuan/ton, with a daily increase of -4.19%. The highest intraday price was 1,184 yuan/ton, the lowest was 1,140 yuan/ton, and the position was 1,600,478 lots, up 100,594 lots from the previous month.

Today, the price of glass futures continued to decline sharply. The current glass market is subject to the resonance contradiction between the expectation of supply recovery and the insufficient demand. A large amount of mid- and upstream inventories cannot be effectively digested, which has a strong suppression on the market. It is difficult to see a significant repair of downstream demand in the short term. At the end of the two sessions of the macro-level, no new policy expectations were seen to boost the negative feedback logic of the glass market, and it is temporarily maintained in a weak position.

Forecast for the future market
There is a plan to resume production in the float glass market in the future, and the supply will remain at a high level; while there is a small amount of rigid demand replenishment in the downstream, and the probability of further reduction is relatively high; in the short term, it is expected that the float glass market may still be weak, and it is necessary to continue to pay attention to the macro policy trends and the recovery of terminal demand.