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SunSirs: The Silica Market Had Been Operating Steadily This Week (May 17-24)

Time:2024-05-29

system of the commodity market of SunSirs, as of May 24th, the average price of high-quality rubber grade silica in China was 5,883.33 RMB/ton. This week, the focus of negotiations in the silica market remained stable, with prices mainly operating steadily. As of May 24th, the overall market supply and demand was mainly balanced, and the mainstream price remained around 6,000 RMB/ton.

Analysis review

This week, the stable operation of the silica market was the main focus, with limited price fluctuations. As of May 24th, upstream cost support was average, downstream demand was insufficient, and downstream procurement was mainly based on rdemand. Latest quotations from enterprises: Wuhan Hengjiu Chemical Co., Ltd. offered a price of 6,000 RMB/ton, Shandong Haideng New Materials Co., Ltd. offered a price of 6,600 RMB/ton, Jinan Century Lianxing Economic and Trade Co., Ltd. offered a price of 6,000 RMB/ton, and Jinan Xinhou Trading Co., Ltd. offers a price of 5500 RMB/ton. The main focus of enterprise quotations is on stability, with stable price operation.

Chemical index: On May 23, the chemical index was 869 points, a decrease of 2 points from the previous day, a decrease of 37.93% from the highest point in the cycle of 14,00 points (2021-10-23), and an increase of 45.32% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to 2011-12-01 present).

Market outlook

SunSirs' silica analyst believes that as of May 24th, the downstream demand for silica was average, and the upstream cost support was average. It is expected that the mainstream price will be around 6,000 RMB/ton in the short term.

From:SunSirs