SunSirs: Cryolite Market Continued to Rise Strongly in November

Price trend

According to data from SunSirs’ bulk list, the price of cryolite continued to rise in November. The average market price at the end of the month was 7,200 RMB/ton, an increase of 2.86% from price of 7,000 RMB/ton at the beginning of the month, and an increase of 22.09% year-on-year.

Analysis review

The domestic cryolite market continued to be firm in November. Raw materials were still tight, cryolite companies had increased production costs, reduced production capacity, and reduced inventories. In addition, the shipments on the demand side were acceptable, and the external quotations of cryolite companies were running at a high level, and the market had risen slightly. As of the 30th, the ex-factory price of cryolite in Henan was 6,500-8,600 RMB/ton, an increase of 400 RMB/ton from the previous month; the ex-factory price in Shandong was also increased by 400 RMB/ton, the quotation was around 7,600 RMB/ton, and the actual transaction price was mainly negotiated.

On the upstream side, the domestic soda ash market continued to decline. On November 30, the average price of soda ash was 3,387.50 RMB/ton, a decrease of 7.19% from the previous month's price of 3,650.00 RMB/ton. Soda ash inventory increased, downstream on-demand purchased, the market digested the previous increase in the month, the price of soda ash continued to decline, but due to the large increase in the previous period, the market price of soda ash was still high.

The downstream aluminum prices continued to fluctuate in November. On November 30, the average price of domestic aluminum ingots in the East China market was 18,876.67 RMB/ton, which was a decrease of 6.66% from the average market price of 20,223.33 RMB/ton on November 1. Aluminum social inventory was relatively high, downstream demand was average, and consumption was slow. Due to the impact of building materials during the month, aluminum prices fluctuated frequently, and the market was generally weak.

Market outlook

At present, the domestic cryolite upstream raw materials are tight, the production cost of enterprises continues to be high, the cryolite market continues to be strong, and the downstream demand is still acceptable, cryolite companies are mainly quoting high prices, and there is no possibility of price reduction in the short term. The cryolite market is expected to remain stable in the later stage.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.