12.25 Glass Daily Review: Float Glass Market Price is Stable but Weak

Float Glass Market Price

Float Glass Market Analysis
Today, the overall domestic 5mm float glass market price is stable but weak. The price of 5mm large plates in Shahe, North China, has been reduced by 8 yuan/ton, and the transaction atmosphere has weakened; the price in the southwest region is temporarily stable, and the shipment speed of some manufacturers has slowed down; the downstream demand in the northwest and northeast regions remains stable, and the shipment of some enterprises is blocked, mainly outsourcing. Overall, the current float glass market operating rate has slightly decreased. Driven by the demand for rush work at the end of the year, the downstream deep processing orders have increased month-on-month; the market trading atmosphere is still flat, and glass companies mainly ship at stable prices.

Float Glass Index Analysis
According to Boduoduo data calculation: the float glass price index on December 25 was 1272.36, down 1.53 from the previous working day, a range of -0.12%.

Futures dynamics
According to Boduoduo data: On December 25, the opening price of the main glass contract FG2505 was 1,395 yuan/ton, and finally closed at 1,368 yuan/ton, with an intraday increase of -0.73%. The highest intraday price was 1,399 yuan/ton, the lowest was 1,362 yuan/ton, and the position was 709,640 lots, an increase of 10,804 lots month-on-month.

Today, the price of glass futures fell from a high level, mainly because the sentiment rebound driven by yesterday's policy news and cost-end commodities has cooled down. Glass in recent months still faces potential further warehouse receipt pressure in Hubei, and the problem of the main contract may still be the cost resistance after approaching the upper margin of the industry's high cost price and the control of the price difference in recent months. In the short term, the key issue is still whether the actual demand in Hubei can ease the delivery pressure.

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 is expected to be stable, and there may be slight adjustments in some local areas.