4.21 Glass Daily Review: Float glass market rose slightly
Float glass market price
Float glass market analysis
Today, the domestic 5mm float glass market rose slightly. Among them, driven by the demand for midstream stocking, the southwest region has smooth shipments from manufacturers, and the overall price has increased by 10 yuan/ton; the shipments of manufacturers in Shahe market are relatively flat, the terminal sales price is adjusted flexibly, and the market transactions are still dominated by low-priced sources; some manufacturers in South China and Southwest China have plans to increase their quotations; the overall shipments in other regions are general, the quotations remain stable, the market is in a wait-and-see mood, and the demand for replenishment is mainly rigid.
Futures dynamics
According to Boduoduo data: On April 21, the opening price of the main glass contract FG2509 was 1124 yuan/ton, and the closing price was 1130 yuan/ton, with a daily decline of 0.88%. The highest price during the session was 1141 yuan/ton, the lowest price was 1112 yuan/ton, the position was 1169117 lots, and the daily position was reduced by 87865 lots.
Today, the glass futures price bottomed out and was mainly weak. At present, there is no new driver for the fundamentals of glass. Although it is still in the seasonal demand repair period, the actual demand is gradually weakening, production and sales continue to fall, and the futures prices are falling rapidly. The midstream shipments squeeze the upstream market, forcing the core production and sales areas to loosen their quotations. At present, given the weak fundamentals and the logic of near-month delivery, funds have greatly suppressed the futures price. However, the demand for the main 09 contract and the expectation of policy repair have not been completely falsified. After the funds rushed to hit the discount, there is a certain demand for profit realization. In the short term, we can pay attention to whether the macro policy can bring opportunities for sentiment boosting. Before that, the glass market may still face the dual suppression of weak reality and weak expectations.
Market forecast
At present, the spot market trend of float glass is stable and volatile. There has been little change in the supply and demand side recently. Most companies will focus on shipping and destocking. The current market is supported by the phased replenishment of the middle and lower reaches. The shipments in some areas are still OK, but the actual demand in the downstream is still flat. We need to pay attention to policy stimulus and the recovery of the completion end in the future.
