3.7 Glass Daily Review: Float glass market is running weakly and steadily

Float glass market price

Float glass market analysis
Today, the domestic 5mm float glass market as a whole showed a weak and stable trend. Among them, the prices of some small plate glass in Shahe area of ​​North China continued to fall. The market was affected by the mentality of buying high and not buying low, and was mainly flexible. The transaction performance of new orders from manufacturers was average. Glass prices in other regions temporarily stabilized, and downstream purchases were still dominated by rigid demand, and the market trading atmosphere was relatively cold. The current float glass market lacks substantial positive support, manufacturers' production and sales are under pressure, the pace of shipments slowed down, spot prices continued to run weak, and industry inventories continued to accumulate.

Futures dynamics
According to Boduoduo data: On March 7, the opening price of the main glass contract FG2505 was 1206 yuan/ton, and finally closed at 1182 yuan/ton, with a daily increase of -1.42%. The highest price during the session was 1207 yuan/ton, the lowest was 1177 yuan/ton, and the position was 1499884 lots, a month-on-month increase of 55693 lots.

Today, the price of glass futures continued to decline. On the one hand, it was due to the overall macro sentiment and the weakening of cost-end products. On the other hand, its own contradictions could not be effectively alleviated. The mid- and upper-stream inventories had a strong pressure on the market. The negative feedback of spot prices did not show signs of stagnation for the time being. Although the glass price was at a relatively low valuation in the short term, it was still weak without the drive of demand repair logic.

Market forecast
There is a plan to resume production in the float glass market in the future, and the supply remains at a high level; while the downstream terminal demand is still weak, the market transaction is general, and manufacturers are mainly flexible in accepting orders and shipping; in the short term, it is expected that the float glass market may still be weak, and we need to continue to pay attention to the macro policy trends and the recovery of terminal demand.