SunSirs: The Silica Market Was Stable (January 12-19)
January 22 2024 14:56:48 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, as of January 19th, the average price of high-quality rubber grade silica in China was 5,933.33 RMB/ton. This week, the silica market price remained stable, and the overall market supply and demand were balanced, with limited price fluctuations. As of January 19th, the mainstream price was around 6,000 RMB/ton.
Analysis review
This week, the price of silica in the market remained stable, with the mainstream price around 6,000 RMB/ton. The negotiation atmosphere was flat, and downstream purchases were mainly on demand, with average demand and weak stocking enthusiasm. Manufacturers mainly offered discounts for sales, and the number of new orders was limited. Latest quotes from enterprises: Jinan Jinrihe Chemical Co., Ltd. quoted 6,000 RMB/ton, Shandong Botao Group Co., Ltd. quoted 5,600 RMB/ton, and Jinan Century Lianxing Economic and Trade Co., Ltd. quoted 6,000 RMB/ton. Overall, the price of silica was stable but weak.
Chemical index: On January 18th, the chemical index was 864 points, unchanged from the previous day, a decrease of 38.29% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 44.48% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present).
Market outlook
SunSirs' silica analyst believes that in the short term, the silica market will mainly operate steadily, with limited price fluctuations, and the mainstream price is around 6,000 RMB/ton.
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