4.18 Glass Daily Review: Float glass market maintains consolidation

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass market maintained consolidation. Among them, the prices of Tianjin Xinyi and Yingkou Xinyi were both increased by 20 yuan/ton. The prices in the North China market were stable with small fluctuations today. The midstream shipments in Shahe area were relatively good. The selling prices of some manufacturers were slightly reduced, and the overall transaction performance was relatively stable. Other regions are still mainly shipping at stable prices. The market trading atmosphere is general, and cautious sentiment is dominant. The demand margin has not improved, and the rigid demand replenishment is maintained.

Futures dynamics

According to Boduoduo data: On April 18, the opening price of the main glass contract FG2509 was 1162 yuan/ton, and the closing price was 1122 yuan/ton, with a daily decline of 4.43%. The highest price during the session was 1166 yuan/ton, the lowest price was 1120 yuan/ton, the position was 1256982 lots, and the daily increase was 114798 lots.

Today, the price of glass futures is mainly downward. 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. In addition, the delivery month is about to begin. There are signs of soft forced warehouses under the margin limit system. After the main force of the far month shifted positions, the weak fundamental expectations also fell sharply to kill the premium. However, the expectations of far-month demand and policy repair have not been completely falsified. In the short term, we can pay attention to whether the macro policy news next week can bring a rebound opportunity for emotional fluctuations. Before that, the glass market may be suppressed by weak reality and weak expectations.

Market forecast

In the short term, the float glass market may maintain a narrow range of fluctuations. At present, the industry inventory is still at a medium-to-high level, and shipments in some areas have slowed down due to weather, and the price increase momentum is insufficient. In addition, there is an expectation of ignition of new production lines in the future, which continues to suppress the room for price increases. We also need to pay attention to changes in raw fuel costs and policy disturbances.