SunSirs: In October, the Silica Market Remained Stable and Weaker, with a Narrow Decline

Price trend

According to the Commodity Market Analysis System of SunSirs, as of October 30th, the average price of high-quality rubber grade silica in China was 6,066.67 RMB/ton. In October, the market price of silica remained stable and weak, with a decrease of 2.15%. The overall price fluctuation range was limited, and manufacturers offered to take orders. Currently, the mainstream price is around 6,000 RMB/ton. The overall market supply and demand are balanced, and the focus of negotiations is stable.

Analysis review

In October, the stable operation of silica market prices was the main focus, with mainstream prices around 6,000 RMB/ton. The focus of negotiations was stable, and the overall market supply and demand was balanced, with little price fluctuations. Downstream procurement was mainly for immediate needs, and the enthusiasm for stocking was average. Manufacturers mainly offered to take advantage of profits, but the number of new orders was limited. The latest quotation from the enterprise: Shandong Haideng New Materials Co., Ltd. offered a price of 6,400 RMB/ton, Jinan Xinhou Trading Co., Ltd. offered a price of 5,500 RMB/ton, and Jinan Century Lianxing Economic and Trade Co., Ltd. offered a price of 6,000 RMB/ton. The overall price of silica maintains the previous trend.

Chemical Index: On October 29, the chemical index stood at 888 points, unchanged from the previous day, a decrease of 36.57% from the cycle's highest point of 1,400 points (2021-10-23), and an increase of 48.49% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).

Market outlook

SunSirs's silica analyst believes that in the short term, the silica market will be mainly stable, and the range of price fluctuations is limited.

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