3.24 Glass Daily Review: The overall float glass market is stable and upward
Float glass market price
Float glass market analysis
Today, the domestic 5mm float glass market is stable and slightly upward. Among them, driven by the demand for midstream stocking, the North China region has a good shipment situation, and the overall price has increased by 10 yuan/ton. The price increase of large and small plates in Shahe area is more obvious; the demand performance in the East China market is lower than expected, and downstream purchases are still dominated by rigid demand, and prices in the region fluctuate; the shipment situation in other regions is stable, and the overall quotation remains stable. The current demand sentiment in the float glass market has improved, but the overall supply and demand contradictions still exist. Most companies still mainly ship by reducing inventory; downstream companies still purchase rigid demand.
Futures dynamics
According to Boduoduo data: On March 24, the opening price of the main glass contract FG2505 was 1,175 yuan/ton, and finally closed at 1,240 yuan/ton, with a daily increase of 6.07%. The highest price during the session was 1,244 yuan/ton, the lowest price was 1,171 yuan/ton, and the position was 1,590,781 lots, an increase of 54,072 lots month-on-month.
Today, glass futures prices rose sharply. Since the marginal improvement in glass demand last week, the production and sales in the core areas have continued to be good. The factory inventory has been destocked for the first time after the holiday. The factory quotations have been raised accordingly, and the futures prices have stabilized and rebounded from a low level. In view of the crowded short positions in the previous period, there is a demand for oversold rebound after the improvement of fundamentals. Today's futures prices have risen sharply to basically Pingshui Shahe spot prices. In the future, attention will be paid to whether arbitrage and speculation demand and actual demand can further support the upward price.
Market forecast
There are still production line cold maintenance plans in the subsequent float glass market, and the start-up may decline slightly; with the recovery of seasonal demand, the market has a certain momentum for recovery, but the market performance of "Silver Four" remains to be verified. In the short term, it is expected that the float glass market may continue to consolidate, and attention will be paid to whether the rise driven by the recovery of demand will continue.
