SunSirs: The Silica Market Was Stable (January 30-February 6)
February 07 2024 09:40:36 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of February 6th, 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 as the Spring Festival approaching, various enterprises had poor stocking intentions and entered a holiday mode. The overall market supply and demand were balanced, and the price fluctuation range was limited. As of February 6th, 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 for immediate needs, with average demand and weak stocking enthusiasm. Manufacturers mainly offered discounts for sales, and the number of new orders was limited. Latest quotations from enterprises: Jinan Jinrihe Chemical Co., Ltd. offered a price of 6,000 RMB/ton, Shandong Botao Group Co., Ltd. offered a price of 5,600 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 mainly stable.
Chemical index: On February 5th, the chemical index was 866 points, an increase of 1 point from the previous ay, a decrease of 38.14% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 44.82% 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 mainstream prices around 6,000 RMB/ton.
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