The hottest Sino EU photovoltaic dispute settlemen

China EU electromagnetic shielding improves the safety and performance of components. The settlement of photovoltaic disputes temporarily relieves the pressure on the domestic photovoltaic industry.

the news at home and abroad is mixed, and the international "black mouth" is firmly bearish on China

China and the EU settled the largest trade friction case in history and reached a settlement on the photovoltaic dispute

in June this year, the main activity profit of Industrial Enterprises above Designated Size in China was 476.89 billion yuan, a year-on-year decrease of 2.3%

the final value of Thomson Reuters/University of Michigan consumer confidence index in July was 85.1, expected to be 84.0, and the initial value was 83.9; The final value in June was 84.1

Citigroup: oil prices have peaked this year

Japan's core CPI rose 0.4% year-on-year in June, the largest increase since November 2008

China's US $21billion local bonds will expire in the second half of the year, and Moody's is expected to default

faxing: the hard landing of China's economy with special hygroscopic polymers will make 4. Whether the tensile speed of the electronic universal testing machine meets the standard, and the GDP growth rate will suddenly drop to 3%

Deutsche Bank reported that China's wage growth this year hit a 12 year low

glass index analysis

on the 26th, the "China glass composite index" Rose 0.64 points over the previous day, "China glass price index" Rose 0.41 points, "China glass market confidence index" Rose 1.58 points. After the market confidence index continued to decline significantly, it rose sharply, and the other two indexes rose steadily. The traditional peak season of demand is coming, and the indexes are expected to continue to rise

glass spot situation

the overall performance of the glass spot market rose steadily. Due to the recent good shipments and low inventory in North China, the main manufacturers in Shahe region have different increases in various specifications of glass, and other manufacturers also have the intention of raising prices. The market performance in East China is slightly better, most of them choose to sell at a high price, and the price increase is still the main part of the East China Conference. The price in South China is flat, the purchase of goods through circulation channels is cautious, and the order volume of processing enterprises is general. The spot markets in the southwest and northwest regions have good delivery, some enterprises take the opportunity to raise prices, and the inventories of production enterprises are normal. Northeast China is dominated by rigid demand, with general short-term sales

the list of enterprises with backward production capacity eliminated in the first batch of industrial industries this year, including 19 industrial industries. Take Panasonic as an example, the flat glass and printing and dyeing industries are also included in the list, of which the flat glass production capacity is eliminated by 16.8 million tons, but there is no listed company

according to the data released by the National Bureau of statistics, 2013? Year?? In June, China's cumulative production of flat glass? 31887.97? Million weight cartons, an increase over the same period last year? 9.84%。 5? In January, the output of flat glass in China was? 6621.3? 10000 weight boxes, year-on-year growth? 15.5%。

since this year, new production? 8? Production lines (2 in February, 4 in March and 2 in April), resumption of production? 3? Production lines (1 in January, 1 in April, 1 in May). At present, the range of production lines with water discharge for cold repair and shutdown is still large, 41? There are three water-cooled production lines (111.616 million heavy containers) and 30 production lines (81.28 million heavy containers), accounting for 10% of the existing actual production capacity respectively? 13.3% and? 9.7%。

on the whole, with the continuous improvement of market conditions, the glass production capacity continues to expand, the cold repair changes the short-term supply, the elimination of backward production capacity changes the long-term supply, but it does not rule out the shutdown of expired production lines and the elimination of production capacity in disguise of production lines that have been unable to operate for a long time

futures situation of Zhengzhou Commodity Exchange

on the 26th, glass futures fell in late trading, and the pattern of large-scale shocks remained unchanged. The contract fluctuated in a narrow range in September, and the market was not optimistic about its delivery and settlement price. In January, the contract fell by 16 yuan/ton, or 1.16%, to close at 1363 yuan/ton. The trading volume increased by 20% compared with the previous day, and 10934 positions were reduced. In May, the contract fell by 16 yuan/ton, or 1.13%, to close at 1403 yuan/ton. The trading volume decreased by 20% compared with the previous day, with 580 positions increased. After the successful position transfer of the contract, the market is still not optimistic about the settlement price of the contract delivery in September, and the arbitrage opportunity of how far the month is empty and how close the month is is obvious. Recently, focus on arbitrage opportunities and the reference range of main contracts

summary

domestic economic growth has shifted to endogenous driven, and the glass industry is greatly affected by changes in domestic policies related to the industry. The elimination of backward production capacity has prompted industry adjustment, and glass listed companies have ushered in new opportunities for development. In the first half of the year, the domestic glass market stabilized and improved, and the price continued to rise, which was better than the same period last year. On the one hand, it responded better to the demand, on the other hand, it stimulated the year-on-year increase of production capacity, so the market price rose more cautiously. On Saturday, China and the European Union reached a settlement on the photovoltaic trade dispute on Saturday, thus avoiding a trade war and benefiting the domestic glass market in the short term. On the 26th, the domestic market was generally stable, with prices rising slightly in Shahe and East China, while those in other regions were mainly stable. The news of eliminating backward production capacity stimulated glass stocks to rise significantly, but glass futures were still dominated by shock and fall. In the short term, we should pay attention to the investment opportunities brought by the deviation between the price trend of glass spot and futures. The contract contraction in September was downward, and the trend may last for a long time. The far month contract continued to narrow the range of the earthquake amplitude for adjustment. On the 29th, the empty September far month arbitrage sheet was re entered; Intra day investment continues to try multiple orders with 1360 as the support, and the reference range

investment suggestions today

intra day investment falls back and is mainly long, with reference to the range; Rolling hedging of production enterprises with cost advantages; How far is the big money empty in September

Author: Zhao Fei (Wanda futures Xi'an Business Department) the content of this article is for reference only and does not constitute investment advice. Investors operate accordingly at their own risk

China glass () Department