SunSirs: Supported by Favorable Costs, the Trend of Silica Was on the Rise
March 19 2024 11:14:52 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, as of March 15th, the average price of high-quality rubber grade silica in China was 5,833.33 RMB/ton. This week, the market price of silica had risen narrowly, with a price increase of 0.57% compared to the same period last week, an increase of about 30 RMB/ton. As of March 15th, the mainstream price of silica in the market was around 6,000 RMB/ton.
Analysis review
This week, the domestic price of silica had slightly increased. As of March 15th, downstream demand was good, the negotiation atmosphere was positive, and the procurement atmosphere was still good. The upstream hydrochloric acid price was dominant, and silica had some support on the cost side. Hydrochloric acid manufacturers temporarily had relatively low inventory, and the supply side was scarce. The price remained dominant, and silica was passively rising in cost. Latest prices from silica manufacturers: Wuhan Hengjiu Chemical Co., Ltd. quoted 6,500 RMB/ton, Jinan Jinrihe Chemical Co., Ltd. quoted 6000 RMB/ton, and Shandong Botao Group Co., Ltd. quoted 5,000 RMB/ton.
Chemical index: On March 14th, the chemical index was 860 points, unchanged from the previous day, a decrease of 38.57% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 43.81% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to 2011-12-01 present).
Market outlook
SunSirs' silica analyst believes that as of March 15th, silica had some support on the cost side, and downstream demand was good. It is expected that the silica market will be stable and stronger in the short term, with mainstream prices around 6,000 RMB/ton.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-23 SunSirs: The Silica Market Had Been Operating Steadily This Week (April 12-19)
- 2024-04-17 SunSirs: The Market for Silica Was Operating Steadily with a Stronger Bias (April 8-15)
- 2024-03-29 SunSirs: The Silica Market Was Weak in March
- 2024-03-25 SunSirs: The Silica Market Had Been Operating Steadily This Week (March 15-22)
- 2024-03-07 SunSirs: Insufficient Momentum for rise, the Silica Market Was Weakly Downward
