SunSirs: The Silica Market Was Weak in March
March 29 2024 10:53:41 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, as of March 27th, the average price of high-quality rubber grade silica in China was 5,833.33 RMB/ton. The silica market was mainly weak in March, and the overall silica price fell by 2.78% in March, with a decline of 200 RMB/ton. The overall market supply and demand were balanced, and the previous trend was maintained in the short term.
Analysis review
In March, the weak performance of the silica market was the main trend, with a narrow decline in overall prices. The upstream cost side lacked support, coupled with weak downstream demand, slow inventory consumption, and slow terminal demand. Latest quotations from enterprises: Jinan Jinrihe Chemical Co., Ltd. offered a price of 5,000 RMB/ton, Jinan Xinhou Trading Co., Ltd. offered a price of 5,500 RMB/ton, Jinan Jinjinquan Economic and Trade Co., Ltd. offered a price of 5,200 RMB/ton, and Shandong Botao Group Co., Ltd. offered a price of 5,000 RMB/ton.
Chemical index: On March 26, the chemical index was 848 points, a decrease of 1 point from the previous day, a decrease of 39.43% from the highest point of 1,400 points in the cycle (2021-10-23), and an increase of 41.81% 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, silica had some support on the cost side temporarily, and downstream demand was average. It is expected that the mainstream price will be around 6,000 RMB/ton in the short term.
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)
- 2024-03-25 SunSirs: The Silica Market Had Been Operating Steadily This Week (March 15-22)
- 2024-03-19 SunSirs: Supported by Favorable Costs, the Trend of Silica Was on the Rise
- 2024-03-07 SunSirs: Insufficient Momentum for rise, the Silica Market Was Weakly Downward
