SunSirs: The silica market had been operating steadily this week (May 9-16)
May 20 2024 11:10:24 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of May 16th, the average price of high-quality rubber grade silica in China was 5,850 RMB/ton. This week, the focus of negotiations in the silica market remained stable, with prices mainly operating steadily. As of May 16th, the overall market supply and demand was mainly balanced, and the mainstream price remained around 6,000 RMB/ton.
Analysis review
This week, the silica market was mainly stable, with limited price fluctuations. As of May 16th, upstream cost support was insufficient, and downstream demand was poor. The main focus was on rigid demand procurement. Latest quotations from enterprises: Wuhan Hengjiu Chemical Co., Ltd. offered a price of 6,000 yuan/ton, Shandong Haideng New Materials Co., Ltd. offered a price of 6,600 yuan/ton, Jinan Century Lianxing Economic and Trade Co., Ltd. offered a price of 6,000 yuan/ton, and Jinan Xinhou Trading Co., Ltd. offered a price of 5,500 yuan/ton. Most enterprise quotations were mainly stable, with limited fluctuation range.
Chemical index: On May 15th, the chemical index was 871 points, unchanged from the previous day, a decrease of 37.79% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 45.65% 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 the downstream demand was average, and inventory was sufficient to maintain a high level. It is expected that the mainstream price will be around 6,000 RMB/ton in the short term.
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