12.18 Glass Daily Review: Float glass market prices are stable and rising
Float glass market analysis
Today, the domestic 5mm float glass market price is stable and rising. Among them, the price of 5mm large plates in North China rose by 10 yuan/ton to 1,300 yuan/ton. The Shahe market performed relatively well. The price of 5mm large plates increased by 12 yuan/ton to 1,224 yuan/ton, and the price of small plates increased by 8 yuan/ton to 1,176 yuan/ton. The shipment situation has improved; the prices in other major regions remained basically stable, and the market demand was still dominated by rigid demand purchases. Overall, the current regional performance of the float glass market is differentiated, the manufacturer's quotation follows the market, the transaction atmosphere is still flat, and the fundamental changes in market supply and demand are limited.
Float glass index analysis
According to Boduoduo data: the float glass price index on December 18 was 1271.78, up 6.53 from the previous working day, an increase of 0.52%.
Futures dynamics According to Boduoduo data, the opening price of the main glass contract FG2505 on December 18 was 1,372 yuan/ton, and it finally closed at 1,373 yuan/ton, with a daily increase of 0.44%. The highest price was 1,391 yuan/ton, the lowest was 1,362 yuan/ton, and the position was 678,860 lots, an increase of 4,886 lots month-on-month.
Today, the price of glass futures fluctuated in a narrow range, and the performance was relatively strong. The main reason is that the contradictions in the fundamentals of glass itself are relatively small, and the further clearing of its own supply side supports the continuation of the expectation of fundamental improvement. The biggest risk in the short term, the Hubei warehouse receipt problem, may also be alleviated as the local manufacturers' price guarantee policies drive production and sales to destock. Before the above logic is falsified, glass itself may still have a certain resilience, but it is necessary to guard against the problem of whether there is a hawkish statement in the forward guidance after the Federal Reserve's interest rate meeting tonight, which will hit the domestic interest rate cut expectations.
Market Forecast
Some float glass manufacturers have plans for cold maintenance in the future, and the supply has decreased. As the winter storage expectations gradually emerge, there may be a periodic demand for replenishment in the downstream, and some manufacturers have plans to increase prices. In the short term, the market price may continue to fluctuate in a narrow range. The specific situation still needs to pay attention to the recovery of downstream purchasing demand.
Data source: Boduoduo Data Group