SunSirs: The Silica Market Was Weaker in a Narrow Range (October 13-20)
October 23 2023 10:42:08 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of October 20th, the average price of high-quality rubber grade silica in China was 6,033.33 RMB/ton. This week, the market price of silica declined narrowly, with an overall decline of 1.9%. As of October 20th, the mainstream price was around 6,000 RMB/ton.
Analysis review
This week, the market price of silica remained stable, with a mainstream price of around 6,000 RMB/ton. The negotiation atmosphere was decent, with downstream procurement mainly on demand and average demand. The enthusiasm for stocking up was not strong, and manufacturers were mainly willing to offer discounts for sales. The number of new orders was limited. The latest quotation from the enterprises: Jinan Jinrihe Chemical Co., Ltd. offered a price of 6,000 RMB/ton, Shandong Botao Group Co., Ltd. offered a price of 5,800 RMB/ton, and Jinan Century Lianxing Economic and Trade Co., Ltd. offered a price of 6,000 RMB/ton. The overall price of silica was stable and weaker.
Chemical Index: On October 18th, the chemical index stood at 919 points, a decrease of 2 points from the previous day, a decrease of 34.36% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 53.68% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).
Market outlook
SunSirs' silica analyst believes that in the short term, the silica market is stable and weaker.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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