1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic PVC spot market fell last month in December. As of December 31st, the average price of PVC in China was 4960 yuan/ton, a decrease of 3.27% for the whole month.

2、 Market analysis

This month, the PVC spot market continued its downward trend, with a slight narrowing of the decline. On the one hand, it was affected by weak upstream crude oil and ethylene, coupled with pressure from the futures market, resulting in a general bearish trend in the PVC spot market. On the other hand, there is a certain pressure on supply and demand, and the spot market has not yet escaped the downward channel. There is basically no rebound trend after a decline in the market during the month, and the operating rate continues to be high. Production continues to increase, and there is a slight surplus of supply. At present, there is no signal of bottoming out and stabilizing in the market. Downstream procurement is mainly based on spot prices, with low enthusiasm for inquiry based procurement and a sluggish market atmosphere. The hanging order price is relatively low. Overall, it is still mainly driven by basic needs, and the trading atmosphere is average. As of December 31st, the mainstream price range of PVC SG5 electrical aggregate in China is mostly around 4800-5050 yuan/ton.

In terms of upstream calcium carbide, since November, the price of calcium carbide has stopped rising, but this month the price has continued to decline. According to data monitored by Business Society, the price of calcium carbide has increased by 5.1% since December. Overall, calcium carbide lacks positive guidance and has limited support. With downstream PVC falling back into a downturn, the price of calcium carbide may not stabilize or improve in the near future.

3、 Future forecast

The PVC analyst from Shengyi Society believes that the supply and demand of PVC will continue to remain weak in the short term, mainly due to the sustained high operating rates of manufacturers and the high inventory levels of both enterprises and the market. On the cost side, the upstream price of calcium carbide is unlikely to rebound, and the cost support is average. From the perspective of the futures market, the PVC futures market has shown weak performance in the later stage, which has affected the confidence of the spot market, and the spot market is generally bearish. Combined with the approaching holiday, the market atmosphere is light, and it is expected that the PVC spot market will continue to remain weak and volatile in January 2025. We will closely monitor changes in the news.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of December 30th, the reference average price of the domestic urea market was 1811 yuan/ton, a decrease of 8.56% from the reference average price of 1981 yuan/ton on December 1st.

2、 Market analysis

market conditions

This month, the domestic urea market prices have been weak and declining. In the first half of this month, domestic urea prices fell. The supply and demand in the urea market are weak, with a decrease in market supply, weak downstream purchasing enthusiasm, weak market transactions, and a poor trading atmosphere. In the second half of this month, domestic urea prices continued to decline. The increase in urea supply has led to an increase in market inventory. Downstream procurement is relatively cautious, with a focus on low-priced purchases, and there is currently no positive market support.

market conditions

As of December 30th, the ex factory price of urea in Shandong region is around 1630-1660 yuan/ton, in Hebei region it is around 1700 yuan/ton, in Henan region it is around 1680 yuan/ton, and in Liaoning region it is around 1810 yuan/ton.

Supply and demand situation

In terms of supply, urea supply has been tight and then loose this month, and currently the market supply is still acceptable. In terms of demand, downstream procurement is relatively cautious, market trading has decreased, transaction atmosphere is light, and the demand side needs to be improved.

3、 Future forecast

Business Society’s urea analyst believes that the urea market has been declining recently. At present, there is a strong bearish sentiment in the market, with downstream low-priced purchases being the main focus, and there is currently no positive news emerging in the market. It is expected that the short-term domestic urea market prices will continue to operate weakly.

In December, the domestic fluorite price trend slightly declined. As of the end of the month, the average domestic fluorite price was 3635 yuan/ton, a decrease of 1.09% from the beginning of the month at 3675 yuan/ton, and an increase of 2.57% year-on-year.

Supply side: Limited mining operations and tight availability of fluorite in stock

The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has not changed much. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. Although the rectification action is coming to an end, the affected area has not narrowed. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. The supply of fluorite remains tight. With the supply shortage and winter storage season, the domestic fluorite price market has not fallen significantly.

Demand side: Hydrofluoric acid market declines, refrigerant production is sluggish

The pricing of hydrofluoric acid in China declined in December, with mainstream prices ranging from 10800-11500 yuan/ton negotiated in various regions. The downstream hydrofluoric acid equipment is still in shutdown, and there is little change in the spot supply of hydrofluoric acid. Manufacturers mainly purchase hydrofluoric acid on demand, and the overall production of hydrofluoric acid remains at around 50%. Downstream hydrofluoric acid enterprises are not actively purchasing, resulting in poor fluorite sales and a slight decline in the fluorite market.

The downstream refrigerant market is on the rise, with continuous destocking of refrigerants within the year. Fluorine chemical companies within quota control have strong confidence in maintaining stability and price stability in the refrigerant market. Currently, foreign trade market prices are gradually increasing, and enterprise spot prices remain tight towards the end of the month. The circulation market is digesting inventory, and new purchase prices are based on factory quotes. However, the operating rate of the refrigerant industry has remained low recently, and upstream product purchases are not active, with fluorite market prices mainly fluctuating.

In addition to the traditional demand in the refrigerant industry, fluorite, as an important mineral raw material for modern industry, is constantly developing in emerging fields. It is also applied in strategic emerging industries such as new energy and new materials, as well as in national defense, nuclear industry and other fields, including lithium hexafluorophosphate, PVDF、 Graphite negative electrodes, photovoltaic panels, etc., with the demand driven by new energy and semiconductor fields, the application of fluorite has received certain support, and the fluorite market still has support.

Market forecast: In the near future, it is difficult to improve the supply of domestic fluorite mines, and some mines have stopped production for safety inspections. The tight supply of fluorite mines is a major positive support for the fluorite market. Recently, the downstream refrigerant product market has risen, but the downstream hydrofluoric acid market has fallen, and the refrigerant industry has been sluggish. Overall, the fluorite market price is mainly fluctuating.

According to the Commodity Market Analysis System of Shengyi Society, the toluene market fluctuated and rose from December 16 to December 23, 2024. On December 16th, the benchmark price of toluene was 5910 yuan/ton, and on December 23rd, the benchmark price of toluene was 6050 yuan/ton, an increase of 2.37% during the cycle. The overall trend of the toluene market this week is strong, while the overall trend of crude oil this week is stable with a slight increase, which has led to an improvement in the atmosphere of the spot market. The demand for gasoline in Shandong has improved, and the purchasing enthusiasm of diversified enterprises has also rebounded to some extent. The overall ex factory prices of refineries in Shandong have risen, and the atmosphere in the spot market is good. Under the boost of the Shandong market, prices in other regions have also slightly increased.

Cost aspect: Currently, the crude oil market is mixed with bearish factors, and geopolitical instability continues to affect the market. The protection of OPEC+production reduction atmosphere still exists, but the pessimistic demand will still suppress oil prices. Overall, the international crude oil market is mainly volatile. As of December 20th, the settlement price of the main international crude oil futures contract was $69.46 per barrel, an increase of $0.08 or 0.1%. The settlement price of the main Brent crude oil futures contract was $72.94 per barrel, an increase of $0.06 or 0.1%.

Supply side: Sinopec’s toluene quotation is stable, and the company is currently operating normally. The production of the equipment is stable, and the products are mostly for personal use, with stable production and sales. As of December 20th, East China Company quoted 6000 yuan/ton, North China Company quoted 6050 yuan/ton, South China Company quoted 6000-6050 yuan/ton, and Central China Company quoted 6100 yuan/ton.

On the demand side, the external market for xylene has slightly rebounded, and demand support is still acceptable

On December 23rd, the price of xylene in the petrochemical sales company was temporarily stable, with a current execution price of 7150 yuan/ton. This price was implemented in East China, North China, Central China, and South China. Yangzi Petrochemical, Zhenhai Petrochemical and other units operated stably and sold normally, with prices unchanged from December 16th. The PX price continued to decline both inside and outside the cycle. As of December 20th, the closing prices of the Asian xylene market were $805-807/ton FOB Korea and $830-832/ton CFR China, an increase of $25/ton compared to December 13th.

Market forecast: The recent trend of crude oil is stable, moderate, and strong, with limited impact on the toluene market. The demand side has performed well recently, boosting the upward trend of the toluene market. However, downstream procurement has basically come to an end, and there is little intention to continue following up. Therefore, the sentiment of the spot market has slightly declined, and the lack of demand support has led to insufficient upward momentum in the toluene market. It is expected to maintain a stable, medium, and weak operation in the short term.

1、 Price trend

Taking the sulfuric acid method gold red stone titanium dioxide with a large volume of goods in the domestic market as an example, according to data monitoring by Business Society, the domestic titanium dioxide market price has remained stable this week, with an average price of 14960 yuan/ton.

2、 Market analysis

The domestic titanium dioxide market has remained stable this week. Internationally, there is significant pressure on enterprises to export. On the domestic front, the titanium dioxide market is sluggish, and downstream markets have a strong wait-and-see attitude, with cautious actual orders. The price of titanium ore on the raw materials is high, and the cost pressure of titanium dioxide is significant, resulting in strong market quotations. As of now, the domestic quotation for sulfuric acid based pyrite type titanium dioxide is mostly between 14000-15700 yuan/ton; The quotation for rutile titanium dioxide is around 13000-13200 yuan/ton. The actual transaction price is negotiable.

In terms of titanium concentrate, the price of titanium concentrate in the Panxi region is weakly stable. Downstream cost pressure is high, on-site inquiries are average, and actual orders are mostly cautiously observed, with a focus on first-time purchases. The upstream and downstream markets are mainly wait-and-see, and it is expected that the titanium ore market will stabilize and operate in the short term.

3、 Future forecast

The titanium dioxide analyst from Shengyi Society believes that the domestic titanium dioxide prices have remained stable this week, and downstream demand continues to be weak. Market procurement is cautious and cautious. It is expected that the market will maintain stable operation in the short term, and the actual transaction price will be negotiated one by one.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of December 17th, the reference average price of domestic urea market was 1851 yuan/ton, which is 1.07% lower than the reference average price of 1871 yuan/ton on December 10th.

2、 Market analysis

market conditions

This week, the domestic urea market has weakened and declined. As of December 17th, the factory price of urea in Shandong region is around 1720-1735 yuan/ton, in Hebei region it is around 1760 yuan/ton, in Henan region it is around 1740 yuan/ton, in Hubei region it is around 1750-1770 yuan/ton, and in Liaoning region it is around 1850 yuan/ton.

Supply and demand situation

This week, both supply and demand in the urea market have been weak. On the supply side, urea production has decreased this week, resulting in a decrease in market supply. In terms of demand, downstream procurement is relatively cautious, market trading has decreased, transaction atmosphere is light, and the demand side needs to be improved.

3、 Future forecast

The urea analyst from Shengyi Society believes that the domestic urea market has been weak recently. At present, the market is mainly wait-and-see, with poor downstream demand. It is expected that the short-term domestic urea market prices will continue to operate weakly.

According to the commodity analysis system of Shengyi Society, the domestic maleic anhydride market has recently risen. As of December 16th, the average market price of n-butane oxidation maleic anhydride remained at 6380 yuan/ton, an increase of 1.92% from 6380 yuan/ton on December 9th.

On the supply side: Last weekend, the production unit of maleic anhydride in Yantai unexpectedly shut down, causing a significant decline in the supply of liquid anhydride in the market. At the beginning of the week, the main factory price of maleic anhydride increased by 1000 yuan/ton, and dealer quotations followed suit. As of December 17th, the ex factory price of solid anhydride in Shandong region is around 7000 yuan/ton, and the ex factory price of liquid anhydride is around 6700 yuan/ton.

Upstream: Recently, the international crude oil market has risen, and the overall n-butane market has slightly increased. As of December 16th, the price in Shandong is around 5250 yuan/ton.

Downstream: Recently, the prices of styrene and maleic anhydride, raw materials for unsaturated resins, have continued to rise, putting pressure on the cost of unsaturated resins. In addition, unsaturated resins are mainly purchased for immediate downstream needs, which limits their support for unsaturated resins. Currently, unsaturated resins are cautious about pursuing higher prices for maleic anhydride and focus on demand.

The analyst of Shengyi Society’s maleic anhydride products believes that downstream unsaturated resins maintain a strong demand and provide limited support for the maleic anhydride market; At present, Yantai Wanhua is expected to shut down for about two weeks, resulting in a decrease in the supply of liquid anhydride and an increase in the ex factory price of maleic anhydride. Dealers are following up on prices, and it is expected that the maleic anhydride market will continue to have an upward trend in the near future.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on December 13th was 813 yuan/ton, which is 0.41% lower than the average price of 816 yuan/ton on December 9th.

2、 Market analysis

The price of ammonium sulfate in the domestic market has slightly decreased this week. The operating rate of coking enterprises remains stable, while the operating rate of domestic enterprises has slightly decreased. This week, downstream demand is average, with price cutting procurement being the main focus and weak market transactions. The international market for ammonium sulfate is still weak, with no short-term improvement, which is bearish for the domestic market. As of December 13th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 750 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 820-850 yuan/ton.

3、 Future forecast

An ammonium sulfate analyst from Shengyi Society believes that the ammonium sulfate market has recently undergone a narrow adjustment. At present, the domestic and international market conditions are not good, and market trading is average. Without any favorable factors, it is expected that the domestic ammonium sulfate market price will remain stable with a weak trend in the short term.

1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, the average price of ammonium sulfate in the domestic market on December 9th was 816 yuan/ton, which is 1.80% lower than the average price of 831 yuan/ton on December 2nd.

2、 Market analysis

The price of ammonium sulfate in the domestic market has slightly decreased this week. The operating rate of coking enterprises remains stable, with a slight increase in the operating rate at the domestic level. This week, downstream demand has weakened and purchasing intentions are not strong. Currently, market confidence is insufficient, and the transaction price of ammonium sulfate market has fallen. The international market for ammonium sulfate has not improved yet and remains mainly weak. As of December 9th, the mainstream ex factory quotation for coking grade ammonium sulfate in Shandong region is around 780 yuan/ton. Domestic grade ammonium sulfate, the mainstream ex factory quotation in Shandong region is around 820-845 yuan/ton.

3、 Future forecast

An ammonium sulfate analyst from Shengyi Society believes that the ammonium sulfate market has been weak in recent days. At present, domestic market shipments are sluggish, and international market demand is sluggish. It is expected that the short-term domestic ammonium sulfate market price will continue to operate in a weak trend.

This week, the domestic fluorite price trend remained mainly stagnant. As of the weekend, the average domestic fluorite price was 3678.75 yuan/ton, an increase of 0.10% from the beginning of the week at 3675 yuan/ton, and a year-on-year increase of 2.90%.

Supply side: Limited mining operations and tight supply of fluorite

The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has not changed much. Upstream mining is tight, and backward mines will continue to be eliminated. In terms of new mines, mineral investigation work is still difficult. In addition, the national department needs to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. Although the rectification action is coming to an end, the affected area has not narrowed. The difficulty of fluorite mining operation has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. The supply of fluorite remains tight, and the inventory of fluorite enterprises is low. With the supply shortage combined with the winter storage season, the atmosphere of factory price increases is strong. In addition, with the decrease of temperature in the north, the fluorite supply has decreased. This week.

Demand side: The price of hydrofluoric acid has declined, and the refrigerant market is still acceptable

The price trend of hydrofluoric acid has declined this week, and the mainstream price for hydrofluoric acid in various regions of China has been negotiated at 10800-11300 yuan/ton recently. The downstream hydrofluoric acid equipment is still in shutdown, and there is little change in the spot supply of hydrofluoric acid. Manufacturers mainly purchase hydrofluoric acid on demand, and the overall production of hydrofluoric acid is around 60%. In December, the pricing of hydrofluoric acid manufacturers decreased, and the price of fluorite remained stagnant due to this news.

The downstream refrigerant market in the terminal is still in good condition, and the demand for after-sales service in summer is quickly digested. The inventory will continue to be depleted throughout the year. Fluorine chemical enterprises within quota control have strong confidence in maintaining stable prices in the refrigerant market. Currently, the prices in the foreign trade market are gradually increasing, and upstream products are mainly purchased on demand. The market price of some refrigerant products has risen, which has led to a slight increase in the domestic fluorite market price.

In addition to the traditional demand in the refrigerant industry, fluorite, as an important mineral raw material for modern industry, is constantly developing in emerging fields. It is also applied in strategic emerging industries such as new energy and new materials, as well as defense and nuclear industries, including lithium hexafluorophosphate, PVDF, graphite negative electrode, photovoltaic panel, etc. With the demand driven by new energy and semiconductor fields, fluorite applications have received certain support.

Market forecast: In the near future, it is difficult to improve the supply of domestic fluorite mines, and some mines have stopped production and undergone safety inspections. The tight supply of fluorite mines is a major positive support for the fluorite market. The recent downstream refrigerant product market is still acceptable, but the price trend of hydrofluoric acid has declined, and overall demand has not improved. Overall, the domestic fluorite market trend is mainly volatile.