SunSirs: The Trend of Hydrofluoric Acid Market Had Declined This Week (July 9-12)

https://www.chemnet.com   Jul 16,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the price trend of anhydrous hydrofluoric acid in China had declined this week. On July 12th, the benchmark price of hydrofluoric acid in SunSirs was 11,333.33 RMB/ton, a decrease of 2.16% compared to the beginning of this month (11,583.33 RMB/ton).

Analysis review

Supply side: Recently, the domestic price of hydrofluoric acid had weakened. The mainstream negotiations price for domestic hydrofluoric acid in various regions was 10,500-11,700 RMB/ton. Some enterprises had parked their equipment and were waiting for the market, but the supply of hydrofluoric acid spot was normal.

Cost side: Domestic fluorite prices had slightly declined this week, with an average price of 3,741.25 RMB/ton as of the weekend, a decrease of 0.33% from the early week price of 3,753.75 RMB/ton and a year-on-year increase of 22.16%. The situation of the game in the domestic fluorite industry still existed, and overall, the operating rate of enterprises remained low. The main reason was the tension in upstream mining, the continuous elimination of backward mines, and the difficulty in mineral investigation work for new mines. In addition, the national department will carry out rectification of fluorite mines in the near future, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. Some mines conducted safety hazard inspections, making it more difficult for fluorite mines to operate. The shortage of raw materials had limited the operation of fluorite enterprises, and the supply of fluorite remained tight, limiting the decline in fluorite prices.

Demand side: Recently, the demand for refrigerants in the market had been weak. Entering the off-season of July and August, due to the influence of rainy weather, the demand for hydrofluoric acid by production enterprises has weakened, and their purchasing enthusiasm has declined. The demand for hydrofluoric acid has been suppressed, and it is mainly for essential purchases.

Market outlook

Recently, upstream raw material fluorite enterprises had encountered numerous difficulties in starting production, with a tight supply of fluorite and continued support for fluorite prices; The downstream refrigerant industry had entered the off-season with weak demand, which had weakened the enthusiasm for purchasing hydrofluoric acid. It is expected that the price of hydrofluoric acid will continue to weaken in the later period.

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