According to the Commodity Market Analysis System of the Business Society, the price of cryolite in Henan region remained stable this week. On October 15th, the average market price in Henan region was 7875 yuan/ton, which is the same as the average price of 7875 yuan/ton on October 9th, with a year-on-year increase of 1.29%.
The cryolite market remains stable at a high level, and manufacturers’ quotations are firm and operating. The supply of upstream products is tight, prices are rising at high levels, and the cost pressure on cryolite is increasing. The market mentality is bullish, but the downstream power is insufficient. There is resistance towards high priced cryolite, and purchasing in the market follows up as needed. The market trading atmosphere is average, and downstream support is weak, which hinders the rise of cryolite. As of October 15th, the factory quotation for cryolite in Shandong region is 7000-8600 yuan/ton; The factory quotation for cryolite in Henan region is between 7200-9000 yuan/ton.
The upstream fluorite market is relatively strong and rising, with an average market price of 3768.75 yuan/ton on October 15th, an increase of 1.34% compared to the price of 3718.75 yuan/ton on October 9th. It is difficult to start upstream raw ore production, fluorite spot is tight, and supply side support is good. The demand side refrigerant market is rising, and demand is driving the price trend of fluorite market to rise.
Future Market Forecast: The upstream price of cryolite is relatively high, with good cost support. The quotation of cryolite enterprises is high and firm, while downstream demand is weak. Market trading is limited, and there is a game between supply and demand on the market, resulting in a stalemate among operators. It is expected that the cryolite market will operate on a wait-and-see basis in the future, with narrow price fluctuations. Specific attention will be paid to changes in manufacturer inventory and downstream acceptance.
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