SunSirs: The Trend of Hydrofluoric Acid Market Declined This Week (August 12-16)

https://www.chemnet.com   Aug 20,2024 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. As of August 16th, the benchmark price of hydrofluoric acid in SunSirs was 10,900 RMB/ton, a decrease of 3.11% compared to the beginning of this month (11,250 RMB/ton).

Price influencing factors:

Supply side: Recently, due to the continuous rise in raw material sulfuric acid prices, the production costs of enterprises had been under pressure, and the market trend of hydrogen fluoride had declined. The mainstream price for hydrofluoric acid in various regions of China was 10,500-11,500 RMB/ton, and some enterprises' equipment was still parked and waiting for the market. The release of hydrofluoric acid production was limited, and the industry's profits were low, resulting in increased losses.

Cost side: The domestic fluorite prices had remained weak and stable this week, with some manufacturers experiencing price declines. As of August 16th, the benchmark price of fluorite in SunSirs was 3,462.50 RMB/ton, a decrease of 3.59% compared to the beginning of this month (3,591.25 RMB/ton). The domestic fluorite industry was in a game situation, and overall, the operating rate of enterprises had not changed much. The main reason was that upstream mining was tight, backward mines will continue to be eliminated. As for new mines, mineral investigation work was still difficult. In addition, recent national departments need to rectify fluorite mines, and fluorite mining enterprises were facing increasingly strict safety and environmental protection requirements. Some mines have conducted safety hazard inspections, making it more difficult for fluorite mines to operate. The shortage of raw materials has limited the operation of fluorite enterprises, and the supply of fluorite sources was still tight. The price trend was declining.

On the demand side: During the off-season of demand, the refrigerant market continued to be in a stalemate due to poor demand transmission. After entering the off-season of production, the market production demand weakened. In addition, the recent rainy weather led to poor inventory of refrigerant companies, and they were not actively purchasing upstream products. The market for some refrigerant products had declined, and as a result, the market for hydrofluoric acid was weak and difficult to change.

Market outlook

The supply of upstream raw material fluorite remained tight; The price of sulfuric acid continued to rise, and the production cost pressure of hydrofluoric acid was significant. The downstream refrigerant industry 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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