The improvement of the macro environment of the ho

2022-08-26
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Glass Market: the improvement of macro environment has boosted glass prices

affected by the positive impact of the central economic work conference, the futures market has been active recently, especially rebar, coke, glass and other varieties associated with fixed asset investment and capital construction. Recently, glass futures, which has just been listed, has a strong trend and momentum, and has become a shining star in the futures market

the improvement of the macro environment boosted glass prices

recently, under the general trend of the overall rebound in commodity prices, glass futures rose for four consecutive trading days, and closed up 1.96% yesterday. On the 19th, China glass composite index was 1031.52, up 0.42 points from the previous trading day; China Glass confidence index was 1145.78 points, up 5.05 points

compared with the positive boost of the industrial chain, this rebound is more about the rise of futures prices dominated by financial attributes. The stabilization of the macro situation and the expected increase in the state's investment in real estate infrastructure have boosted the prices of rebar, glass and other related varieties to continue to rise

Zhong Meiyan, an analyst at Everbright futures, said that the main driving force for the improvement of the futures market came from the resonance generated by the cooperation of the macroeconomic side. "Urbanization polyurethane enterprises should also aim at the new situation of automobile development" is expected to increase the positions of building materials in the bulk commodity market, such as glass, PVC, rebar, etc

"previously, glass was intertwined with seasonal off-season and long-term uncertainty. For example, the central economic work conference on gas raised urbanization again, which improved the outlook for glass and promoted the rise of glass prices." Lin Jing, an analyst at Haitong futures, also said

the glass industry is still in the winter

although the glass price has rebounded recently, the glass industry is still in the winter, and the problem of overcapacity still plagues the entire industrial chain

according to Wang Jin, an analyst at Yong'an futures, China's glass industry has a huge production capacity. As of the end of November 2012, 284 glass production lines of electronic tensile testing machines are currently used in domestic glass, with a total production capacity of 998 million weight boxes/year. Since 2005, the glass production capacity has expanded rapidly, and the actual production capacity has increased by 1.4 times. Due to the rapid expansion of production capacity, the glass industry has a serious overcapacity in the past two years, and the industry operating rate has been maintained at about 80%. As the glass industry is a highly cyclical industry, historical experience shows that the industry will probably usher in an expansion cycle every year. Due to the impact of a large number of new production capacity in the early stage, the industry is currently experiencing a trough period, and the price is also in a low position

"at present, the glass spot industry is still characterized by seasonal off-season. The northern region has entered the winter shutdown, the demand has fallen, and the enthusiasm of winter storage traders is not high." Analyst Lin Jing said

futures may help enterprises get out of trouble

at present, the transformation of industrial structure is the main tone of the domestic economy in the next few years. Although urbanization will still boost the demand for building materials such as glass, the economic growth rate will be milder than in previous years, and the speed of digesting excess capacity will be slower. Therefore, glass enterprises need to strengthen their awareness of risk prevention

"enterprises can actively use financial instruments such as futures to avoid the risk of price fluctuations. At the same time, they need to control the scale of production capacity, promote the transformation of industrial structure, and strengthen the core competitiveness of enterprises." Analyst Wang Jin believes

the margin is very small. Chen Xiaofei, director of China Glass information operation, said that glass futures will contribute to the sustained, stable and healthy development of the glass industry. Futures can provide effective channels to avoid risks and provide strong financial support for relevant enterprises; It helps to form and improve the influence and position of Chinese prices in the international glass market; It is conducive to the adjustment of industrial structure and the realization of the objectives of the 12th Five Year Plan for flat glass

it is understood that the excellent performance of glass futures has attracted the attention of the spot market and spot production and circulation enterprises. Affected by the recent listing of glass futures and the internal system and process, most enterprises have not had time to participate in the trading of glass futures. Even some enterprises that become delivery warehouses are still in the process of improving internal systems and establishing regulations. Now most enterprises are accelerating the progress of improvement and striving to participate in the transaction as soon as possible. The active participation of glass production and circulation channels will also promote the healthier development of glass futures and stimulate the activity of glass futures. Zhonghua glass () Department

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