4.28 Glass Daily Review: Float glass market fluctuates within a narrow range

Float glass market price

Float glass market analysis

Today, the domestic 5mm float glass market fluctuated narrowly. Among them, the South China market was affected by holiday factors. Some manufacturers lowered their quotations to accelerate destocking and provided additional discounts to large-order customers. The North China market remained stable as a whole. The price of small plates in Shahe area loosened slightly, and the transaction remained flexible. Supported by good shipments, the Southwest market tentatively raised local prices. The trading activity in the Northeast market declined slightly compared with the previous period. Downstream companies maintained on-demand replenishment, and wait-and-see sentiment warmed up. Other regions continued to be stable, and the downstream replenishment rhythm was stable, mostly based on small orders.

Futures dynamics

According to Boduoduo data: On April 28, the opening price of the main glass contract FG2509 was 1,118 yuan/ton, and the closing price was 1,122 yuan/ton, with a daily decline of 0.53%. The highest price during the session was 1,135 yuan/ton, the lowest price was 1,116 yuan/ton, the position was 1,161,839 lots, and the daily increase was 12,207 lots.

Today, the price of glass futures continued to fluctuate weakly. After the policy expectations were basically unfulfilled, the market had no new expected support. In the short term, there were a small number of production lines on the supply side, and the demand side was tepid. The production and sales in the core areas fell over the weekend. Without positive drivers, the sustainability of midstream replenishment was limited. In the short term, the near-month contract faced warehouse receipt suppression, and the far-month contract fluctuated around the low spot price, and the overall operation remained weak.

Forecast for the future market In a market environment lacking clear positive news stimulation, downstream companies generally adopted a cautious wait-and-see attitude, and their operating strategies tended to be rational. Although some manufacturers have tentative intentions to raise prices, considering the approaching May Day holiday, most manufacturers still take accelerating shipments as their main business strategy. It is expected that the float glass market price will continue to fluctuate in a narrow range in the short term.

Data source: Boduoduo Data Group