SunSirs: Refrigerant Prices Had Risen Comprehensively in February
March 04 2024 14:36:56     SunSirs (John)Price trend
According to the Commodity Market Analysis System of SunSirs, as of February 29th, the average price of refrigerant R22 was 23,666.67 RMB/ton, an increase of 9.57% from the beginning of the month's price of 21,600.00 RMB/ton, and an increase of 22.41% from the same period last year.
According to the Commodity Market Analysis System of SunSirs, as of February 29th, the average price of refrigerant R134a was 30,666.67 RMB/ton, an increase of 7.60% from the beginning of the month's price of 28,500.00 RMB/ton, and an increase of 24.32% compared to the same period last year.
Analysis review
In February, the domestic price of chloroform continued to rise, rising by 6.52%. The cost of raw materials continued to rise, and with the issuance of refrigerant quotas, R22 quotas were once again reduced. Most trading entities were bullish on the future market. In addition, the downstream stocking season was approaching, and manufacturers had a strong attitude towards price support, supporting the continuous upward trend of domestic R22 market prices in February.
Entering February, the quota policy for third-generation refrigerants had been implemented, and the refrigerant industry pattern continued to optimize. The price war among manufacturers had weakened, and the refrigerant industry as a whole had entered a business cycle. In addition, with the upcoming peak season for downstream refrigerant stocking in March, manufacturers had maintained a strong price stance, supporting the strong upward trend of domestic refrigerant R134a prices.
In February, domestic hydrofluoric acid prices remained stable with a weaker trend, resulting in an overall decline of 0.5%. The stable and weaker trend in raw material costs will to some extent limit the overall increase in domestic refrigerants in the future.
Market outlook
According to refrigerant analysts from SunSirs, overall, the upstream raw material costs of domestic refrigerants were stable and slightly stronger. Downstream is about to enter the peak stocking season, and with the support of costs and demand, it is expected that the prices of domestic refrigerants R22 and R134a will continue to remain strong in March.
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