4.16 Glass Daily Review: Float glass market is going sideways

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass spot market continued to maintain stability. Among them, the Huasha River market was generally traded, and the overall situation was tepid. Downstream purchases were cautious, and low-price transactions were the main transactions. . The price of some brands in Guizhou and Sichuan in the southwest has moved up, which has little impact on the change of the center of gravity of the local mainstream price. At present, the local negotiations in Yunnan and Guizhou are 58-60 yuan/heavy box, and the Guizhou part is slightly lower at 56 yuan/heavy box. Other regions continue to ship mainly at stable prices, and the market wait-and-see mentality is gradually increasing. The shipments of some companies have slowed down compared with the previous period, and there are differences in shipments. Downstream purchases are relatively cautious, and just-in-time replenishment is maintained.

Futures dynamics

According to Boduoduo data: On April 16, the opening price of the main glass contract FG2509 was 1,179 yuan/ton, and the closing price was 1,185 yuan/ton, with a daily decline of 0.25%. The highest price during the session was 1,192 yuan/ton, the lowest price was 1,175 yuan/ton, the position was 1,027,314 lots, and the daily increase was 50,426 lots.

Today, the overall glass futures price was weak and fluctuated. At present, there is no new driver for the fundamentals of glass. Although it is still in the seasonal demand repair period, the actual demand has gradually weakened. The near-month warehouse receipts are under strong pressure. The futures price may fluctuate around the Hubei delivery price range and wait for new drivers. After the main force of the far month shifted positions, it was also weak in view of the weak fundamentals and the existence of a certain premium. However, the expectation of far-month demand and policy repair still exists. After the premium space is compressed, no deeper negative feedback phenomenon has been formed for the time being. In the short term, attention can be paid to the emotional fluctuation opportunities brought by the macro policy news at the end of the month.

Forecast for the future market

At present, most of the float glass spot market is stable, and the market is in a wait-and-see mentality. In the absence of news stimulation, enterprises are mainly focused on shipping and destocking, and the shipping situation varies from region to region. Downstream stocks are stocked at low prices, and purchases maintain rigid demand. In the short term, it is expected that the float glass market will maintain a narrow range of consolidation.