SunSirs: Cost Rose, Demand Rose, and Refrigerant Prices continued to Rise

Price trend

According to the monitoring data of SunSirs, as of March 10, the average price of refrigerant R22 was 20,333.33 RMB/ton, up 5.17% from 19,333.33 RMB/ton at the beginning of the month and up 16.19% from the same period last year

According to the monitoring data of SunSirs, as of March 10, the average price of refrigerant R134a was 25,000.00 RMB/ton, up 3.38% from the price of 24,666.67 RMB/ton at the beginning of the month, which was the same as that of the same period last year.

Analysis review

In March, the domestic price of chloroform continued to rise. As of March 10, the price of chloroform rose 7.03% in the month, while the price of hydrofluoric acid fell slightly by 0.58%. Overall, the cost of raw materials in the upstream of R22 continued to rise. Supported by the rising cost of raw materials, the manufacturer continued to raise the factory price of R22 after entering March, driving the domestic market price of R22 to continue to rise.

With the gradual rise of domestic temperature, the domestic refrigerant consumption demand had gradually warmed up, and the domestic refrigerant R22 price had also been supported by the rigid demand in the downstream.

In March, the domestic trichloroethylene price remained stable and the hydrofluoric acid price declined slightly. As of March 10, the hydrofluoric acid price fell slightly by 0.58% in the month. In general, the upstream raw material cost of R134a was generally weak. Supported by the overall low inventory of domestic R134a and the recovery of refrigerant demand after the temperature rose, the domestic R134a price rose slightly in March.

In terms of raw materials, compared with the domestic hydrofluoric acid price in previous years, the domestic hydrofluoric acid price was continuing to run at a relatively low level after the overall rise first and then fall in 2023, and the continued low cost of raw materials will have a certain depress effect on the continued rise of the domestic R134a price in the future.

Market outlook

Refrigerant analysts of SunSirs believe that in terms of R22, the price of chloroform had risen sharply, and the peak season of refrigerant demand is approaching, supported by the double benefits of cost and demand, it is expected that the domestic R22 market price will still have some room for recovery in the short term. For R134a, the raw material cost continued to fluctuate at a low level, the temperature rose, and the demand for refrigerant improved. Under the game between long and short, the overall space for the rise of the price of domestic refrigerant R134a will be limited.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com