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SunSirs: Refrigerant Prices Continued to Rise in March

April 04 2023 09:27:07     SunSirs (John)

Price trend

According to monitoring data from SunSirs, as of March 31, the average price of refrigerant R22 was 20,833.33 RMB/ton, a significant increase of 7.76% compared to the price of 19,333.33 RMB/ton at the beginning of the month, and a year-on-year increase of 20.19%.

According to the monitoring data of SunSirs, as of March 31, the average price of refrigerant R134a was 25,500.00 RMB/ton, an increase of 3.38% compared to the price of 24,666.67 RMB/ton at the beginning of the month, and an increase of 2.00% compared to the same period last year.

Analysis review

In the first ten days of March, the domestic price of chloroform continued to rise. As of March 11, the price of chloroform had increased by 7.81% during the month, while the price of hydrofluoric acid had slightly decreased by 0.58%. The upstream raw material cost of R22 continued to rise, resulting in a rise in raw material costs. Manufacturers had successively raised the factory price of R22, driving the domestic market price of R22 to continue to rise.

In late March, the domestic price of chloroform fell back after rising. The price of chloroform fell 16.41% during the month, while the price of hydrofluoric acid stopped falling and rebounded, with a slight increase of 0.29% during the month. Overall, the overall cost of raw materials in the upstream of R22 fell back after rising, and the further decline in cost will suppress the future market price of R22 to a certain extent.

As the domestic temperature gradually rises, the downstream demand for refrigerant continues to rise, and the rigid demand in downstream will provide some support for the price of domestic refrigerant R22.

In March, the overall domestic trichloroethylene price remained at a relatively low level with a slight fluctuation, while hydrofluoric acid prices rebounded slightly at the end of the month. As of March 31, hydrofluoric acid prices rose slightly within the month by 0.29%. Overall, the cost of upstream raw materials for R134a rose slightly in March, coupled with the overall low inventory of domestic R134a, and the continued recovery of refrigerant demand after the gradual rise in temperature. The overall domestic R134a price rose slightly in March.

In terms of raw materials, although the domestic hydrofluoric acid price rebounded slightly in March, the overall hydrofluoric acid price was at a low level, and the slight rebound in hydrofluoric acid price has limited support for the future price of R134a.

Market outlook

Refrigerant analysts from SunSirs believe that the cost of raw materials has fallen after rising, and the peak demand season for refrigerant is approaching. The market is expected to have insufficient momentum to continue to rise in the domestic R22 market. With the lower cost of raw materials, it is expected that the overall price of the R22 market in April will undergo a slight correction and move forward in a volatile manner. Supported by factors such as a slight rebound in raw material costs, a recovery in costs, and the peak demand season, it is expected that the overall domestic R134a price will be stable and stronger in April.

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

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