4.11 Glass Daily Review: Float glass market fluctuates within a narrow range

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass spot market maintained a narrow range of consolidation. Among them, the prices of some specifications of small plates of individual companies in Shahe increased slightly, the market trading was general, and the transaction was flexible. The local purchase and outsourcing in the central China market are good overall. Some companies raised prices today, and most companies kept prices stable. Some companies in the South China market raised prices moderately for different specifications, and most companies maintained prices. The downstream purchase of raw sheets is mainly based on demand. In the Northeast market, except for some companies raising prices, most prices remain stable. Local demand is limited, and some companies still mainly outsource. The prices of some float glass brands in Sichuan, the southwest region, have moved up, and advance news has driven phased transactions. Other regions are still mainly shipping at stable prices. There are sporadic plans to increase prices in the near future. The willingness to increase prices is strong. There are differences in the shipments of enterprises. The demand margin has not improved, and the purchase is mainly based on rigid demand.

Futures dynamics

According to Boduoduo data: On April 11, the opening price of the main glass contract FG2505 was 1,165 yuan/ton, and the closing price was 1,146 yuan/ton, with a daily decline of 3.13%. The highest price during the session was 1,168 yuan/ton, the lowest price was 1,138 yuan/ton, the position was 907,907 lots, and the daily increase was 17,668 lots.

Today, the price of glass futures weakened significantly, mainly because the near-month deposits were backed by warehouse receipts under the delivery logic. From the perspective of glass's own fundamentals, production and sales fell yesterday. It is difficult to give an upward drive simply from the perspective of seasonal demand repair. On the contrary, the basis has strengthened due to the decline in spot prices. Midstream inventories may flow out in large quantities to seize the market. The price increase path of manufacturers is temporarily stagnant, and it is difficult to form an upward drive for the anchoring of near-month prices. In the short term, the near-month may maintain a weak situation to game the delivery psychology, but there can be certain macroeconomic repair expectations for the far month.

Market Forecast

At present, the spot market of float glass remains stable with small fluctuations. There is little change in the supply and demand side recently. Most companies focus on shipping and destocking. Some companies are driven by emotions. With good shipments, they tentatively raise prices. The shipment situation varies from region to region. The downstream has recently replenished stocks, and may enter the digestion process in the short term. Purchases remain rigid demand. In the short term, it is expected that the float glass market may maintain a narrow range of fluctuations.