3.3 Glass Daily Review: Float glass market continues to operate weakly

Float glass market price

Float glass market analysis
Today, the domestic 5mm float glass market continued to be weak. Among them, the float glass market price in the southwest and south China regions dropped by 10 yuan/ton, and the quotations in Beijing, Tianjin, Tangshan and Shahe regions in China also dropped slightly; the prices of enterprises in other regions are temporarily stable, and the downstream terminal demand is recovering slowly, and the purchase volume is limited, and the market faces great pressure to accumulate inventory. On the weekend, some production lines in the float glass market were ignited, and the supply remained high; while downstream enterprises mostly took a wait-and-see attitude, and purchases were mainly based on rigid demand, and the overall situation was cautious; glass manufacturers were not shipping smoothly, production and sales were under pressure, and inventory continued to rise.

Futures dynamics
According to Boduoduo data: On March 3, the opening price of the main glass contract FG2505 was 1245 yuan/ton, and it finally closed at 1227 yuan/ton, with a daily increase of -0.65%. The highest price was 1252 yuan/ton, the lowest price was 1220 yuan/ton, and the position was 1434086 lots, a month-on-month increase of 73864 lots.

Today, the price of glass futures fell month-on-month with the market environment and cost-end varieties. The main contradiction in the glass market is that the current actual demand is difficult to take over the midstream inventory, the selling pressure is strong, the negative feedback in the spot market continues, and the manufacturer's quotation is reduced. Although the glass price is at a relatively low valuation in the short term, there is no upward drive in the short term and the negative feedback problem cannot be resolved. It is temporarily maintained on a weak view, waiting for the subsequent actual demand to be repaired or policy expectations to re-emerge.

Market forecast
There is a plan to resume production in the subsequent float glass market, and the supply remains at a high level; while the downstream terminal demand is still weak, and the market transaction is general; in the short term, it is expected that the supply and demand game in the float glass market will remain fierce, or it will still be weak.