The hottest economic data is difficult to be optim

  • Detail

Economic data is difficult to be optimistic, glass futures prices are still under pressure


1. The Federal Reserve maintains the monetary policy unchanged, maintains the monthly bond purchase rate of $85billion, and increases the flexibility of QE adjustment. U.S. economic data were mostly lower than expected. ADP employment increased by only 119000 in April, falling to the lowest level in seven months. The new type of water renewable plastic granulator has been continuously optimized and updated; In April, the ISM manufacturing index of the United States fell to 50.7, with the slowest expansion rate in the year; The mechanical function inspection project of PMI final value plastic in the U.S. manufacturing industry in April was relatively simple, 1 fell to a six-month low, and the growth of new orders slowed down significantly

2. The Dow fell on Wednesday, and the four consecutive positive trend was terminated. The international commodity market fell across the board, and US crude oil, gold and silver fell sharply; London's base metals fell across the board, as the economic data released by China and the United States showed that the economy was weak, and investors' concerns about demand increased. The main three-month copper contract fell 3.7%


the PMI reading of China's official manufacturing industry in March and April was 50.6, lower than the expected 50.7. Although it was still above the boom and bust line, the growth slowed down, and China's economy was still facing downside risks

4. Cushman & Wakefield said on Wednesday that China's commercial real estate investment increased by 15% to 1.5 trillion last year, accounting for one third of all investment in the Asia Pacific region, surpassing Japan to become the largest commercial real estate market in the region

in May, industrial enterprises above Designated Size achieved a profit of 1174billion yuan, an increase of 12.1% over the same period last year, and the growth rate fell by 5.1 percentage points over the month

6. Before the festival, the Political Bureau of the CPC Central Committee held a meeting to study the current economic situation and economic work, emphasizing efforts to release the potential of domestic demand and actively promote the adjustment of overcapacity industries. At the same time, it proposed to solidly promote urbanization and regional coordinated development. The humidity of the curing box should also be controlled. Whether the national urbanization conference held in mid and late April should be rescheduled to May is pending

7. Glass index: as of April 26, 2013, China's glass composite index was 1063.78, up 0.66 points from the reading of the previous day and down 1.86 points from the previous month; China glass price index was 1037.91 points, up 0.77 points from the previous day and down 2.35 points from the previous month; China Glass confidence index was 1167.26 points, up 0.21 points from the previous day and 0.11 points from the previous month. Judging from the monthly data, the three major indexes fluctuated. But recently, affected by the recovery of spot fundamentals, the glass index has stopped falling and rebounded, and the glass price in the spot market has maintained a stable and warm trend

8. Spot market: the price rise in the spot market continues to remain stable. After the gradual opening of the glass terminal demand market, it has a certain boost to the glass production industry, and it is optimistic to predict the recovery and growth in the future. At present, the implication of the first "9" is that the inventory of various channels of glass spot will last forever has decreased slightly from last week, and the new production capacity in April also slowed down compared with the previous period. We remain cautiously optimistic about the trend of glass spot. We also believe that the current spot price is unlikely to rise explosively

9. Zheng Shangsuo glass currently has 654 warehouse receipts, an increase of 112 on the last trading day before the holiday. Glass futures are facing the first centralized delivery month, and it is expected that the main contracts will be out of their own market after that

10. Raw materials: the price index of all raw materials was flat

[market review]

the main contract of glass 1309 opened high on the last trading day before the holiday, and then slightly rose to the intraday high of 1371, followed by a slight range shock and then fell. At noon, it fell to the settlement price of 1347 of the previous day, and then fell to the intraday low of 1336. The late trading position continued to fall, and the futures price fluctuated around 1343 to close. The main contract opened at 1363 yuan/ton, and the daily position was reduced by nearly 82000 hands. The dragon and tiger list shows that the long and short main forces have reduced their holdings, with 15351 long main forces and 8531 short main forces

[operation strategy]

during the holiday, most of the economic data pointed to the slowdown of economic growth, and the overnight external market commodities fell sharply across the board. Whether the urbanization conference will be rescheduled to May is pending, and related commodities are still suppressed by negative factors in the short term. Technically, investors' profit taking psychology was biased before the holiday, and the futures price position was reduced, and the upper part was still subject to the moving average system. Macroeconomic data is hard to say positive. There is a high probability of low opening in early trading today, and the short-term is weak. Pay attention to the first-line pressure of 1350. If the futures price significantly increases and declines, follow it appropriately in the short term, pay attention to stop losses, and cautious investors will wait and see for the time being. The upward pressure of glass today is 13701350; Downward support 13201300. Pay attention to the trend of Shanghai Stock Exchange and thread. For reference only

international trade futures, author: Zhang Baohui, the content of this article is for reference only and does not constitute investment suggestions. Investors operate accordingly at their own risk

China glass () Department

Copyright © 2011 JIN SHI