Price trends
Domestic fluorite prices saw a slight rise last week; by the weekend, the average domestic price stood at 3,637.5 RMB/ton, up 0.52% from the 3,618.75 RMB/ton recorded at the start of the week and up 10.86% year-on-year.
Supply side: Supplies from both domestic and overseas sources were tightening simultaneously.
On the domestic front, nationwide inspections regarding mine safety and production have intensified significantly; numerous mines have suspended operations for rectification, leading to a continued contraction in the circulation of domestic raw ore. Driven by stricter national and local regulatory policies, operating rates in Inner Mongolia remain low, while in southern regions like Zhejiang and Fujian, only a handful of mines have resumed production—with the restart dates for most others remaining uncertain. Consequently, the tight supply situation across the domestic market is unlikely to ease in the short term, bolstering the bargaining power of mining enterprises. With fluorite spot supplies remaining scarce, market prices are trending upward.
Regarding imports, mines in Mongolia—a key source for the domestic market—halted production for maintenance in mid-July. Although import volumes from Mongolia have recently begun to rise, actual inflows remain limited due to constraints such as logistics costs, offering only moderate relief to supply pressures. With supplies tightening in both domestic and overseas markets, spot inventories have declined; facing a shortage, mining enterprises are reluctant to sell and are holding firm on prices, leading to an upward trend in fluorite prices.
Demand side: Confluence of multiple positive factors downstream.
1. Hydrofluoric acid market prices rose; procurement increased compared to earlier levels
Operating rates for hydrofluoric acid producers hover at only around 50%, with most companies facing severe losses. Spot supply has contracted sharply due to simultaneous shutdowns at major hydrogen fluoride plants in the north; as a result, spot orders have been diverted to other producers, leading to tight supply and increased bargaining power for sellers. Transaction prices have risen significantly since the beginning of the month, driving up procurement interest for fluorite and raising expectations for raw material consumption. However, domestic fluorite price gains have been constrained; while mainstream contract prices rose to 15,300-15,800 RMB/ton in September, downstream demand failed to keep pace, and signs of declining capacity utilization emerged.
2. Driven by Peak Season Demand for Refrigerants
Refrigerants represent the primary source of downstream demand for fluorite. Since the beginning of 2026, the prices of major refrigerant varieties—such as R32, R125, and R134a—have risen by 70% to over 180%. With the summer season marking a peak period for air conditioner and cold-chain consumption, downstream manufacturers are actively increasing their inventory replenishment. The sustained rise in the average price of R22 refrigerant has stimulated greater interest in upstream fluorite procurement.
Market Outlook:
Overall, mine rectification and reduced imports on the supply side have established a solid price floor, while the peak season for refrigerants, the emerging AI liquid cooling sector, and capacity expansion in the fluorochemical industry are driving demand from multiple fronts, maintaining a market characterized by a tight balance between supply and demand. However, it is worth noting that downstream demand for anhydrous hydrogen fluoride remains sluggish and capacity utilization rates have dipped; the tug-of-war between supply and demand continues, and fluorite prices are expected to trend upward with some volatility in the period ahead.
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