Price trend

The domestic anhydrous hydrogen fluoride market saw an upward trend in October. According to the SunSirs analysis system, as of October 23rd, the SunSirs benchmark price for hydrofluoric acid was 12,666.67 RMB/ton, a 10.47% increase from September.

Analysis review

Raw material market: The domestic fluorite market remained high in October. According to the SunSirs analysis system, as of October 23rd, the SunSirs fluorite benchmark price was 3,637.50 RMB/ton, up 0.76% from 3,610.00 RMB/ton at the beginning of the month. The domestic fluorite industry remained highly competitive, with overall operating rates remaining largely unchanged. Upstream mining remained tight, and outdated mines would continue to be phased out. Mineral resource surveys for new mines remained challenging. Furthermore, with national authorities implementing rectification measures for fluorite mines, fluorite mining companies faced increasingly stringent safety and environmental protection requirements, making it more difficult to resume operations. Raw material shortages were hindering fluorite operations, with some mines in the south operating at low rates. This had led to tight supply conditions for fluorite companies on the market, leading to a clear price support from holders. With falling temperatures in northern China and the approaching winter shutdown period for mines and concentrators in the region, market supply was further tightening, maintaining fluorite prices at a high level. Hydrofluoric acid costs remained supportive.

On the demand side: The overall operating rate of the downstream refrigerant industry was low in October. Due to the reduction in load or shutdown of R125 plants in East China, market supply decreased, but price increases were limited. R22 market prices continued to decline, falling from 33,500 RMB/ton at the beginning of the month to 16,000 RMB/ton in East China, a drop of 51.52%. Overall, downstream refrigerant terminal demand was weak and showed no signs of improvement, making it difficult to provide effective support for anhydrous hydrogen fluoride.

Market outlook

The raw material fluorite market remained at a high level, but downstream demand for high-priced raw materials was weak, with purchases primarily driven by rigid demand. The market was sluggish, and the anhydrous hydrogen fluoride market is expected to mainly consolidate in the future. Further attention should be paid to changes in market supply and demand.

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