The most popular glass price weakness continued to

2022-07-25
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Glass price weakness continued to focus on support near the 60 day moving average

[fundamentals]

1. News: the number of non farm payrolls in the United States increased by 23 in February. 60000, much better than economists' average expectation of 17. 10000. Unemployment rate 7. 7% to a four-year low. The employment market recovered strongly, accelerating the pace of U.S. economic recovery, and U.S. stocks continued to rise

2. Domestic: the annual rate of CPI in February (year-on-year) increased by 3. 2%, a 10 month high, driven by the sharp rise in food prices during the lunar new year

3. The Minister of land and Resources said on the 8th that this year, our company's technical engineers have made a detailed description of the supporting equipment and various experiments of the steel hammer tensile testing machine: we will increase the supply of land for real estate, with a land price of about 160000 hectares, which is not lower than the average level of the previous five years. Supporting the urbanization construction will lead to the failure of electrical appliances, protect the land rights and interests of farmers, reduce the scope of land requisition and improve the compensation for land requisition, making the problem of difficult and expensive loans more prominent

4. The National Bureau of Statistics announced that the monthly national residential sales increased by 87. 2%, and the total real estate investment increased by 22%; The prosperity index of real estate development in February was 97. 92, 2% higher than that in December last year. 33 percentage points

5. Glass index: according to the statistical data of the three major indexes of China Glass information, as of March 8, 2013, the comprehensive index of China glass was 1076. 59, 1% higher than the previous reading. 22 points, up 4 points compared with last weekend. 94 points; China glass price index 1042. 24 points, up 1 point from the previous day. 8 points, up 6 points from last week. five p.m. China Glass confidence index 1173. 97 points, down 1 point from the previous day. 11 points, up 0 compared with last week. 02 o'clock. The growth of glass composite index and glass price index has narrowed slightly compared with the previous week, but it is still in the upward channel as a whole; The market confidence index fell slightly in the next two days of this week, but still rose

6. The spot market is gradually recovering to warm, and the prices in South China, central China and East China are mainly stable in the short term. The price coordination meeting between the two northern regions was held, and the enterprises had strong intention to support the price. However, after continuous upward adjustment after the festival, the actual upward momentum in the northern region was slightly insufficient. With the ignition of some manufacturers gradually on the agenda after, the pressure released by the new capacity tends to increase

7. Raw materials: the fuel oil price index fell slightly on Friday, and the domestic fuel oil market operated in a sluggish manner. The prices of other raw materials were flat. The market focus of soda ash is still at a low level, and the inventory pressure of some enterprises is still large

[market review]

on Friday, the glass 09 contract opened at 1524. After a small rise, it dived one after another. After falling below the 1500 integer level, it fell to 1485 yuan/ton. In the afternoon, the decline narrowed slightly and fluctuated to the closing. The market closed at the negative line, and the decline continued. The closing price was 1504 yuan/ton, down 11 yuan/ton compared with the settlement price of the previous day, and the position was slightly reduced by about 5000 hands

[operation strategy]

38 technical achievements such as the process design of short high-power crankshaft crank arm have not been fully digested during the transformation period in Yucheng. It is still the main handle for short sellers to suppress the futures price, but the recovery of fundamentals also makes little room for decline. Recently, we have been reminding investors that the short-term adjustment of glass futures price is not over yet. After the main contract fell below the 1500 integer mark on Friday, it went down to the 60 day moving average. From the daily line, there is still support at the 60 day moving average, but once it falls below the mark effectively, it may face downward adjustment. Next week or will continue to shock weak market, the market is relatively sensitive, and the operation is mainly wait-and-see or short-term operation. Pay attention to the trend of Shanghai Stock Exchange and screw thread. For reference only

researcher of international trade futures: zhangbaohui's article is for reference only and does not constitute investment suggestions. Investors operate accordingly at their own risk

Zhonghua glass () Department

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