The hottest glass futures fell sharply on the firs

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Glass futures fell sharply on the first day of listing, and the market participation was relatively high

yesterday was the first day of listing of glass futures in Zhengzhou Commodity Exchange. The main contract glass 1305 opened low and went low, with a sharp fall of 7.18% throughout the day. Analysts said they expected the sharp decline of glass futures on the first day of listing. However, from yesterday's trading volume and position, the market participation of glass futures is still relatively high

trading was active on the first day of listing

yesterday, glass futures were listed in the spotlight, but after listing, they opened sharply lower, and then fluctuated all the way down. The main contract glass 1305 closed at 1318 yuan/ton, with a decline of 7.18% throughout the day

as for the weak trend of yesterday's glass futures, Luo Qiang, deputy general manager of Guangzhou futures research department, said that the decline of yesterday's glass futures had been expected, but he did not expect such a large decline. The market may be so low glass prices mainly because the current fundamentals of products are poor. First of all, the glass market has been in short supply. Now it is the traditional off-season, and traders in the market are bearish on the future market. The benchmark price of 1420 yuan set in advance is a little high

"however, the transaction of glass futures yesterday was good. The total trading volume of eight contracts exceeded 700000 hands, and the position volume also exceeded 80000 hands. For the varieties traded on the first day, it should be relatively active, and the market participation is still relatively high." Luo Qiang said

glass futures fell sharply yesterday, while the spot market has continued to fall since November. The launch of glass "1025" final futures failed to change the downward trend. Yesterday's China glass composite index closed at 1063.03 points, down 6.03 points from last Friday. China glass price index fell 6.5 points to 1034.32 points from last Friday


have strong interest in glass futures

glass futures can be described as a heavy responsibility. Zhengzhou Commodity Exchange hopes to promote the exchange from an exchange dominated by agricultural futures to a trading exchange with a comprehensive variety system through the introduction of a series of futures such as glass. The glass industry also has high expectations for the launch of glass futures. At the press conference on the listing of glass futures yesterday, Zhou Zhiwu, Executive Deputy Secretary General of China Construction (601668, Guba) glass and Industrial Glass Association, said that in recent years, China's glass prices have fluctuated by more than 20% in the year, and the market risk is significant. Enterprises lack the necessary means to avoid risks, and glass production and processing enterprises can only passively bear the risk of price fluctuations, affecting the stable development of the industry. The market also hopes to break the "glass bottleneck" that restricts the development of the industry through new ways

according to the survey of many glass enterprises by Zhongyu information, at present, most manufacturers express their willingness to understand and accept futures, and use futures to avoid risks in production and operation since 2017. An Kang, an analyst at Zhongyu information, said, "the listing of glass futures has a great impact on the glass industry. The first is the pricing system. The guiding role of futures in the spot market price will be reflected to a certain extent. In addition, the listing of futures will also bring a certain positive impetus to enterprise cooperation."

demand is weak and inventory climbs.

"however, the introduction of glass futures cannot alleviate the current downward momentum of the glass market and has little effect on the improvement of the industry." Ankang said. At present, glass is entering the off-season of regular demand, manufacturers have difficulties in shipping, and inventories are rising. In terms of demand, the government does not relax its regulation and control policies on real estate. As the main market of the glass industry, real estate is suppressed by policies. Insufficient demand will lead to downstream users unable to sell glass, and it is impossible to purchase from manufacturers, so manufacturers have to consider reducing prices. In addition, due to the current industrial status of overcapacity and profit compression in the domestic glass industry, it is difficult to reverse the current plight of the glass industry through futures listing in a short time

the secondary market

the decline in glass prices

led to the decline in the performance of glass stocks

there were also related glass stocks that fell synchronously with glass futures yesterday. Yesterday, the Shanghai Stock Exchange Index fell by more than 1%, and the performance of many glass stocks was far inferior to the market, leading the decline in the building materials sector. Luoyang Glass (600876, Guba) (600876) opened low yesterday, with a decline of 5.46% throughout the day. Diamond glass (300093, Guba) (300093) fell 4.51%, yaopi glass (600819, Guba) (600819) fell 3.23%; Industry leader Fuyao Glass (600660, Guba) (600660) also fell, but fortunately, the sharp rise at the close narrowed the decline to 1.25%. CSG a (000012) fell 2.49%

in fact, affected by the decline in glass prices, the performance of glass stocks in helping enterprises clarify their development ideas fell year-on-year, and some stocks even suffered losses. According to the third quarter report of Luoyang Glass, the operating revenue of the company fell 36.46% year-on-year in the first three quarters of this year. The company said that the main reason for the sharp decline in operating revenue in the first three quarters was the reduction in sales and the decline in selling prices. The operating revenue of CSG a in the first three quarters was 5.293 billion yuan using standard samples, a decrease of 18.65% over the same period last year. The decrease was also due to the decrease in the sales price of flat glass and solar products during the reporting period compared with the same period last year

Luoyang Glass and yaopi glass have fallen into losses in the first three quarters. Although King Kong glass, Fuyao Glass and CSG a still maintain profits, their net profit growth rates have declined to varying degrees. Zhonghua glass () Department

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