3.12 Glass Daily Review: Float Glass Market Mainly Stable

Float Glass Market Price

Float Glass Market Analysis
Today, the domestic 5mm float glass market price is mainly stable, with some declines. Among them, the float glass price in the North China market is relatively stable, the middle and lower reaches just need to replenish stocks, and the transaction is general. The price of 5mm large and small float glass in Shahe area remains unchanged, and the prices of other individual specifications of manufacturers have been slightly reduced to stimulate shipments; the price in the Central China market continues to remain stable, and the manufacturer's shipments are equivalent to yesterday; the East China market is running steadily, most manufacturers' quotations remain unchanged, and the transaction is relatively flexible. At present, the float glass market is relatively flat, there is no new driver, and there is no obvious improvement in the fundamentals.

Futures Dynamics
According to Boduoduo data: On March 12, the opening price of the main glass contract FG2505 was 1159 yuan/ton, and finally closed at 1147 yuan/ton, with a daily increase of -0.43%. The highest intraday price was 1,169 yuan/ton, the lowest was 1,139 yuan/ton, and the position was 1,557,541 lots, up 14,095 lots from the previous month.

Today, the glass futures price continued to be weak. The contradiction of insufficient demand in the current glass market is still the main reason for the weak price. As the main contract gradually approaches delivery, the pressure of weak reality gradually increases. It is difficult to see a significant boost in downstream demand without strong driving stimulation. However, the downward trend of futures and spot prices is also an accumulation of marginal benefits. In the short term, we will pay attention to whether the actual acceptance of the downstream at low prices in the golden March and silver April will improve. Before that, we will temporarily maintain a weak view.

Forecast for the future market
There will be a plan to resume production in the float glass market in the future, and the supply will remain at a high level; while the downstream has a small amount of rigid demand for replenishment, and the enthusiasm for taking goods is limited. In the short term, it is expected that the float glass market may still be weak.