4.22 Glass Daily Review: Float glass market is stable but fluctuating

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass market is stable and fluctuating. Among them, the shipment situation in Shahe area is still good. Under the boost of sentiment, the prices of some markets of Shahe Zhengda and Shahe Xinli have risen slightly; some manufacturers in Central China have slightly lowered their prices to promote the speed of spot circulation; the mainstream float glass prices in Northwest China are stable, and some manufacturers have slightly raised their quotations in local areas; prices in other regions are relatively stable, the overall shipment situation is general, the market demand is weak, and the downstream is still mainly based on on-demand procurement. Today, the operating rate of float glass production lines across the country remains at a medium-high level, and the overall production capacity is sufficient. Shahe Dejin cold repair device will be ignited and re-ignited in the near future.

Futures dynamics

According to Boduoduo data: On April 22, the opening price of the main glass contract FG2509 was 1,134 yuan/ton, and the closing price was 1,124 yuan/ton, with a daily decline of 0.18%. The highest price during the session was 1,138 yuan/ton, the lowest price was 1,119 yuan/ton, the position was 1,166,616 lots, and the daily position was reduced by 2,501 lots. Today, the price of glass futures fluctuated and fell in a narrow range. At present, there is no new driving guidance for the fundamentals of glass. In view of the weak fundamentals and the strong price suppression of the near-month delivery logic, the policy repair expectations of the main 09 contract have not been completely falsified. After the funds rushed to the discount, they waited and watched for the time being. After the near-month futures prices were greatly depressed, on the basis of limited changes in spot prices, the cost-effectiveness of warehouse receipt cancellation increased, and the delivery pressure eased, but it is still difficult to give a strong upward revision drive. In the short term, we can pay attention to whether the macroeconomic policies can bring opportunities to boost the sentiment of the far month. Before that, the glass market may still face strong suppression of weak expectations.

Market outlook

The supply-side capacity of the float glass market has been relatively stable recently, and there is no large-scale cold repair or new ignition plan. Some companies have flexibly adjusted their production and sales strategies to avoid inventory backlogs; there has been no obvious increase in demand, and downstream companies have maintained on-demand procurement, and the motivation for capital to enter the market is insufficient. In the short term, the float glass market will still be dominated by shock adjustments.