SunSirs: The Silica Market Showed a Narrow weaker trend (October 10-17)

https://www.chemnet.com   Oct 18,2023 SunSirs

　　Price trend

　　According to the Commodity Market Analysis System of SunSirs, as of October 17th, the average price of high-quality rubber grade silica in China was 6,150.00 RMB/ton. This week, the market price of silica declined narrowly, with an overall decrease of 1.2%. As of October 17th, the mainstream price was around 6,100 RMB/ton.

　　Analysis review

　　This week, the market price of silica remained stable, with the mainstream price of around 6,100 RMB/ton. The negotiation atmosphere was fair, downstream procurement was mainly based on demand and demand was average. The enthusiasm for stocking up was not strong, and manufacturers were mainly willing to offer discounts for sales. The number of new orders was limited. The latest quotation from the enterprises: Jinan Jinrihe Chemical Co., Ltd. offered a price of 6,000 RMB/ton, Shandong Botao Group Co., Ltd. offered a price of 5,800 RMB/ton, and Jinan Century Lianxing Economic and Trade Co., Ltd. offered a price of 6,000 RMB/ton. The overall price of silica was stable and weaker.

　　Chemical index: On October 16, the chemical index was 926 points, a decrease of 5 points from the previous day, a decrease of 33.86% from the highest point of 1,400 points in the cycle (2021-10-23), and an increase of 54.85% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).

　　Market outlook

　　SunSirs' silica analyst believes that in the short term, the silica market will be stable and weaker.

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