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SunSirs: Upstream and Downstream Gamed, and Hydrofluoric Acid Market Was Weakly Downward
July 10 2024 15:39:25SunSirs(John)

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the domestic price trend of anhydrous hydrofluoric acid had declined this week. As of July 8th, the benchmark price of hydrofluoric acid was 11,516.67 RMB/ton, a decrease of 0.58% compared to the beginning of this month (11,583.33 RMB/ton).

Analysis review

Supply side: Recently, the domestic price of hydrofluoric acid had weakened. The mainstream negotiated price for hydrofluoric acid in various regions in China was 10,800-11,600 RMB/ton. Some enterprises had parked their equipment and are waiting for the market, while the spot supply of hydrofluoric acid was normal.

Cost side: Recently, there had been a game situation in the domestic fluorite industry. As of July 8th, the average price of fluorite in China was 3,753.75 RMB/ton, a decrease of 0.73% compared to the beginning of this month (3,781.25 RMB/ton). The game situation in the domestic fluorite industry still existed, and overall, the operating rate of enterprises remained low. The main reason was the tension in upstream mining, and backward mines will continue to be eliminated. In terms of new mines, mineral investigation work was still difficult. In addition, recent national departments need to rectify fluorite mines, and fluorite mining enterprises were facing increasingly strict safety and environmental requirements. Some mines were conducting safety hazard inspections, making it more difficult for fluorite mines to operate. The shortage of raw materials had restricted the operation of fluorite enterprises, and the supply of fluorite remained tight, limiting the decline in fluorite prices.

Demand side: Recently, the demand for refrigerants in the market had been weak. Entering the off-season of July and August, due to the influence of rainy weather, production enterprises had weakened their demand for hydrofluoric acid, and their purchasing enthusiasm had declined. The demand for hydrofluoric acid had been suppressed, mainly through rigid demand procurement.

Market outlook

Recently, upstream raw material fluorite enterprises had faced numerous difficulties in starting production, resulting in tight supply of fluorite and continued support for fluorite prices; The downstream refrigerant industry had entered the off-season with weak demand, and the enthusiasm for purchasing hydrofluoric acid had weakened. It is expected that the price of hydrofluoric acid will continue to weaken in the later period.

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