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FG price keeps rebounding along with spot price
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FG price keeps rebounding along with spot price

[Abstract]:
Since July 27, the glass futures prices continued to rise following the spot. As of August 10 closing, the glass futures 1601 contract rose 2.42%, to close at 888 yuan / ton, the highest intraday reac

Since July 27, the glass futures prices continued to rise following the spot. As of August 10 closing, the glass futures 1601 contract rose 2.42%, to close at 888 yuan / ton, the highest intraday reach 892 yuan / ton, the cumulative increase reached 6.47 percent range, becoming commodity markets recently widths.

"Since entering in August, glass fundamentals for the better performance of short-term pattern, the market price in the glass business quite a cyclist showed a certain season atmosphere, forming a support for the glass futures market rebound in recent months, especially strong performance." CITIC Futures analysts believe that the market is expected to support the peak season, the glass or maintain short-term shock origin of the pattern of recent months, the trend will remain relatively strong.

Currently, the spot market to stabilize seasonal, and more recent common glass prices rose slightly. It is reported that in recent days, Shahe market this month, the manufacturer conducted a second round of hikes, thickness board general increase 0.5-1 yuan / weight box. Tianjin Zhongbo, Lutheran Tianjin, Hebei and other companies raised security Run 1-2 yuan / weight box. East China market prices basically stable, the recent frequent rainfall, the manufacturer shipped flat. Lutheran South China market, and other companies Kibing price increase 2 yuan / weight box around.

As of August 10, Chinese glass composite index was 815.29 points, up 2.99 points; China glass price index 804.77 points, up 3.70 points; China glass market confidence index was 857.39 points, up 0.18 points. China's major cities Glass average price of 1082.55 yuan ton, up 3.36 yuan / ton. Prices of most major cities were flat, rising in some cities. Guangzhou where the largest increase of 16.00 yuan / ton.

"The current market trend warms, producers prices and inventory reduction is mainly based on the expected results season price oversold and environmental regulation in Beijing, Tianjin regions in central China to limit production and other factors, so some traders and deep-processing enterprises in a certain number The restocking to prepare for later use. "Founder Zhou Huan mid-Research Institute in the research report pointed out that the current stock market is in the off-season to the traditional peak season for the conversion process. From a regional point of view, this seasonal transition process, significantly earlier than the northern markets of MERCOSUR. Current price put up is driven by the rising prices of production companies take the initiative, not the increase driven by final demand. Meanwhile traders and deep-processing enterprises market confidence was weaker than last year, and the financial strain caused by traders and deep-processing enterprises of the original film stock is also at a relatively low level.

CITIC futures also pointed out that the active quite price of glass enterprises, the domestic glass market showed a certain season atmosphere, slightly downstream market confidence boost. On the other hand, glass production business inventories continued to decline slowly, the chain last week, the total inventory reduced by 22 million heavy boxes to 34.98 million weight cases, the first decline since March of this year to 35 million heavy boxes or less. "Although compared to last year in terms of the overall inventory level is still high, but since July the chain continued to decline in the performance of market confidence stabilized, especially glass business very price initiative had some stimulating effect."

Looking ahead, Nanhua Futures believes glass downstream demand due to the seasonal increase in the magnitude of the impact will improve certain; so from the post-market trend, short-term prices are still up space within a certain range. But it is worth noting that after the end of the region, real estate construction, glass processing and product transportation will be subject to certain restrictions, the short-term supply and demand is difficult to improve.

"Seasonal demand stabilizes, weak demand pattern changed in the long term, short-term shocks upward momentum stronger. Recommend more volatile short main idea, or a temporary fence." Huatai futures analyst Xu Huimin representation.