SunSirs: The Price Trend of Cryolite Operated on a Wait-and-see Basis in May

https://www.chemnet.com   Jun 06,2024 SunSirs

Price trend

According to the commodity market analysis system of SunSirs, the price of cryolite remained stable in May. As of May 31st, the average market price in Henan Province was 7,550 RMB/ton, which remained stable compared to the price of 7,550 RMB/ton at the beginning of the month, and remained unchanged compared to the previous month.

Analysis review

In May, the domestic cryolite market was in a wait-and-see operation, with major cryolite enterprises showing significant stability in their quotations and minor fluctuations. In May, raw material prices continued to rise strongly, putting continuous cost pressure on the cryolite market. Most cryolite enterprises had firm and stable quotations, while some enterprises were affected by costs and manufacturers were under production pressure, resulting in an increase in cryolite prices. Although upstream prices continued to rise, due to strong resistance towards high priced cryolites and limited market trading, downstream enthusiasm for entering the market was not high, and insufficient demand suppresses the rise in cryolite prices. Therefore, most cryolite manufacturers remained stable in their quotations despite strong raw material prices.

The upstream fluorite market continued to rise in May. As of May 31st, the average price of fluorite was 3,806.25 RMB/ton, an increase of 3.57% compared to the beginning of the month price of 3,675.00 RMB/ton. The game situation in the domestic fluorite industry still existed, with upstream mining being tight and backward mines continuing to be phased out. In terms of adding new mines, mineral investigation work remained difficult. In addition, recent national departments had issued price inquiries to rectify fluorite mines, which had restricted fluorite enterprises from starting production. The supply of goods on site was tight, and fluorite prices continued to rise.

Market outlook

The price of cryolite raw materials continued to remain strong, putting pressure on cryolite production and providing favorable raw material support; Downstream resistance was strong, demand for purchasing was light, and cryolite enterprises had poor shipments; The supply-demand game on the market was obvious, and the rise of cryolites was weak. It is expected that the cryolite market will remain stagnant in the later stage, and prices may rise slightly. In the future, attention will be paid to upstream price changes and downstream follow-up.

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