3.31 Glass Daily Review: Float glass market is stable but tends to weaken

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass market is stable but weak compared with last Friday. Among them, the price of float glass in the North China market has dropped by 10 yuan/ton, the pace of traders' purchases has slowed down, production and sales in Shahe area have declined, and market prices have generally fallen; other regions are still mainly shipping at stable prices, and downstream purchasing sentiment is cautious. The production lines that were ignited in the early stage have gradually released production, the market supply has increased slightly, the supply in some areas is relatively sufficient, and manufacturers have insufficient motivation to raise prices; the market trading atmosphere at the end of the month is general, and the terminal is still mainly replenished by rigid demand, and the overall demand improvement is limited.

Futures dynamics
According to Boduoduo data: On March 31, the opening price of the main glass contract FG2505 was 1,195 yuan/ton, and it finally closed at 1,181 yuan/ton, with a daily increase of -2.64%. The highest price during the session was 1,204 yuan/ton, the lowest price was 1,170 yuan/ton, and the position was 1,430,724 lots, a month-on-month decrease of -42,075 lots.

Today, the price of glass futures continued to decline, basically giving up the gains of this round of rebound. The sentiment of the previous futures market was repaired too quickly, resulting in the expansion of the premium in Hubei, and the risk of warehouse receipts increased again. As the futures price callback waited for the driver, the production line also weakened at the weekend after the market sentiment cooled down, further exacerbating the negative feedback of the market. However, the current price decline has basically matched the Hubei market and is temporarily in a reasonable valuation range. The subsequent price trend still needs to wait for reality to drive. It can be observed whether the actual demand can continue to improve month-on-month and whether the inventory in the middle and upper reaches can continue to decline.

Market forecast
The subsequent float glass market still has production line cold maintenance plans, and the start-up may decline slightly; as the holiday approaches, there may be a certain demand for replenishment in the downstream, but the current market wait-and-see sentiment is strong, and the purchasing rhythm is still cautious. In the short term, it is expected that the float glass market may continue to fluctuate steadily.