SunSirs: Insufficient Momentum for rise, the Silica Market Was Weakly Downward
March 07 2024 16:08:05 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of March 6th, the average price of high-quality rubber grade silica in China was 5,800 RMB/ton. On March 6th, the silica market was mainly weak, with a price drop of 3.33% compared to the previous day, a decrease of about 200 RMB/ton. As of March 6th, the mainstream market price was around 6,000 RMB/ton, and manufacturers were making concessions for sales, putting pressure on the operation.
Analysis review
On March 6th, the price of domestic rubber grade silica showed a downward trend, with a decrease of 3.33% compared to the previous day, a decrease of about 200 RMB/ton. The upstream raw materials hydrochloric acid and sulfuric acid showed a stable and weaker trend, and silica lacked favorable support in terms of cost. As of March 6th, downstream demand was weak, and the purchasing atmosphere was average. The overall inventory of silica was high, and consumption was slow. Downstream manufacturers mainly purchased according to demand.
Silica commodity index: On March 6th, the silica commodity index was 130.63 points, a decrease of 4.51 points from the previous day, a decrease of 15.64% from the highest point in the cycle of 154.84 points (2021-12-06), and an increase of 46.10% from the lowest point of 89.41 points on October 7th, 2016. (Note: The cycle refers to 2011-09-01 present).
Market outlook
SunSirs' silica analyst believes that it is expected that the silica market will be stable and weaker in the short term, with insufficient momentum for price increases.
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