4.1 Glass Daily Review: Float glass market trend turns strong

Float glass market price

Float glass market analysis
Today, the domestic 5mm float glass market trend turned strong. Among them, under the influence of market sentiment, the price of float glass in the North China market increased by 10 yuan/ton, the shipments of manufacturers in Shahe area improved, the market prices of some specifications rose slightly, and the overall trading was general. The shipments in the Central China market were OK, and a small number of companies raised the price by 1 yuan/heavy box, and most prices remained stable. Other regions still mainly shipped at a stable price. As the holiday approached, downstream purchases were relatively cautious, and the overall shipments of enterprises were general. The production lines that were ignited in the early stage released production one after another, and the market supply increased slightly. The supply in some areas was relatively sufficient, and the manufacturers had insufficient motivation to raise prices; the market trading atmosphere was general, and the terminal was still mainly replenished by rigid demand, and the overall demand improvement was limited.

Futures dynamics
According to Boduoduo data: On April 1, the opening price of the main glass contract FG2505 was 1,188 yuan/ton, and finally closed at 1,235 yuan/ton, with a daily increase of 4.04%. The highest intraday price was 1,243 yuan/ton, the lowest was 1,187 yuan/ton, and the position was 1,366,608 lots, with a month-on-month reduction of 64,138 lots.

Today's glass futures prices rebounded sharply, mainly because the production and sales in Hubei Province rebounded yesterday, and the factory prices were raised. After the futures prices fell to a reasonable valuation yesterday, it also gave the market a realistic drive to revise upward. In addition, the main contract is about to face delivery, and the problem of high positions has not been solved. There is also a phenomenon of funds squeezing positions. In the future, the core is still whether the peak season demand can continue to recover. If the spot upward rate cannot match the futures, it is still possible to pull back in the short term to wait for real support, and it is still cautiously optimistic.

Market Forecast
Industry players still lack confidence in the market outlook. The current operation is mainly around shipments, and the wait-and-see sentiment is strong. At present, the overall industry inventory pressure still exists, and most companies will ship to destock. The downstream is cautious and wait-and-see, and the purchasing rhythm is still cautious. In the short term, it is expected that the float glass market may continue to maintain a volatile market.