4.23 Glass Daily Review: Float glass market overall stable, with slight increases in some areas

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass market remained stable overall, with a slight increase in some areas. Among them, the selling prices of large and small plates in Shahe area rose slightly, the shipment of small plate glass was smooth, and the large plate glass maintained a stable trend. The transaction activity did not show a significant increase, and the pressure to destock still existed; the overall shipment in the southwest region was good, and the price in Sichuan and Guizhou continued to rise, driving the overall market price level to rise slightly by 10 yuan/ton; the prices of individual small plate companies in South China were slightly lowered, and the prices of most companies remained stable, and the downstream was still mainly replenishing stocks on demand; other regions were still mainly shipping at a stable price, and the market transaction price showed a certain elasticity.

Futures dynamics

According to Boduoduo data: On April 23, the opening price of the main glass contract FG2509 was 1,130 yuan/ton, and the closing price was 1,154 yuan/ton, with a daily increase of 2.21%. The highest price during the session was 1,159 yuan/ton, the lowest price was 1,127 yuan/ton, the position was 1,070,617 lots, and the daily position reduction was 95,999 lots.

Today, the price of glass futures has rebounded. The main reason may be that the upstream production and sales of yesterday's spot rebounded sharply. In addition, the macro-level overseas tariffs showed signs of easing and repair, and the market sentiment has warmed up. At present, there is no major driving guidance for the fundamentals of glass. In view of the weak fundamentals and the price suppression of the near-month delivery logic, the short-term recovery of upstream production and sales is more due to the low-price replenishment of midstream stocks. When the futures price fell rapidly in the early stage, the midstream shipments seized the upstream market. As the market stabilized, the willingness to accept goods at low prices rebounded after the midstream inventory was released to a certain extent. In addition, the resonance of the pre-holiday stocking market led to a substantial recovery of upstream production and sales. In the future, the main contract has basically been repaired to the low-price spot in Pingshui Hubei. It can be paid attention to whether there is external cost or policy drive to open the premium space, thereby further driving the willingness of midstream to take goods to form a phased positive feedback market.

Market Forecast

In the short term, the float glass market is expected to maintain a range of fluctuations. Due to the two-way constraints of high supply and weak demand, the market lacks unilateral driving force, and mainstream prices will fluctuate in a narrow range. The possibility of a sharp rise or fall is low. It is necessary to pay close attention to the downstream restocking rhythm and the industry cold maintenance dynamics.