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1. Today's Summary

① The domestic fluorspar market is characterized by strong wait-and-see sentiment with limited upside potential. The mainstream reference price for 97% wet fluorspar powder in the domestic market is CNY 3,300–3,750/ton.

② The mainstream contract price for downstream anhydrous hydrofluoric acid (AHF) in November is tentatively referenced at CNY 15,300–15,650/ton.

2. Spot Market Overview

Table 1: Domestic Fluorspar Price Summary (Unit: CNY/ton)

Data Source: Chempricehub Information

Supply-demand dynamics in the domestic 97% fluorspar concentrate market have intensified today. The significant upward adjustment in downstream AHF pricing has boosted confidence among fluorspar traders to push prices higher. However, transaction activity in northern markets has gradually cooled off. Suppliers continue to support prices citing adverse weather and tightened supply, while downstream buyers exhibit strong pressure to lower prices. In southern markets, sentiment remains heated; although suppliers are aggressively calling for price hikes and many traders are coordinating to push prices up, downstream participation is weak as buyers await further market guidance. Current delivered spot price references across various domestic regions are as follows: Inner Mongolia CNY 3,300–3,400/ton; Zhejiang CNY 3,500–3,600/ton; Jiangxi and Fujian CNY 3,700–3,750/ton; Shandong CNY 3,500–3,600/ton; Northwest region CNY 3,250–3,350/ton; Henan and Anhui CNY 3,250–3,350/ton. As of publication, the mainstream delivered price for domestic 97% wet fluorspar powder is referenced at CNY 3,300–3,750/ton.

3. Production Dynamics

The monthly capacity utilization rate for anhydrous hydrofluoric acid in October was 59%.

4. Price Forecast

Pushing momentum in the fluorspar market is strong, but upside potential is limited. The AHF market is supported firmly by costs.

5. Related Products Status

Anhydrous Hydrofluoric Acid (AHF) Market: Sentiment in the domestic AHF market is strongly bullish today. During the bidding period for price setting, cost differentiation between northern and southern regions has become prominent. This round of price adjustments shows northern supplies rising by CNY 400/ton and southern markets rising by CNY 600/ton. Short-term expectations for the sulfuric acid market remain upward, pending further market guidance. As of publication, the mainstream delivered price for domestic AHF in October is referenced at CNY 14,500–14,800/ton, with the Shandong market referencing CNY 14,760–15,000/ton.

Sulfuric Acid: Today, the Chempricehub index for 98% sulfuric acid stood at CNY 1,380/ton, a decrease of CNY 15/ton from the previous period, aligning with morning expectations. The national sulfuric acid market is operating weakly, though local prices in Guangdong are trending slightly higher. In Yunfu, major downstream titanium dioxide enterprises maintain stable demand, allowing acid plants to move goods adequately while keeping inventories low. Additionally, plans for maintenance shutdowns at key acid plants next month have strengthened expectations of reduced supply. Furthermore, the high and stable pricing of pyrite this month continues to provide cost support, leading to a price increase of CNY 50/ton last Saturday. In Shaoguan, some acid plants that were undergoing maintenance earlier have not yet resumed operations. Although resumption is planned, other units in the region face maintenance schedules, resulting in minimal changes to overall supply volume and relatively tight sulfuric acid resources. However, the monthly price of pyrite raw materials decreased by CNY 400/ton compared to the previous month, significantly weakening cost support. Despite previously high costs, acid prices remain temporarily stable, with future trends awaiting observation. Overall downstream demand in Guangdong remains rigid, with no significant change in market sentiment. Due to numerous variables in the recent market, traders are adopting a wait-and-see approach, leading to stalemate-like acid prices in the short term. The Inner Mongolia sulfuric acid market has entered its beginning-of-month price adjustment window, showing clear regional divergence: prices in Western Inner Mongolia remained largely stable, while those in Eastern Inner Mongolia dropped by CNY 70–250/ton, widening the intra-regional price gap. In Western Inner Mongolia, main acid producers in Wuhai and Baotou maintained steady operations. Maintenance units of key smelting acid producers in Bayannur have not yet restarted, limiting the volume of commercial acid available externally. Main acid producers' quotes at the start of the month mostly held at previous levels, with actual transactions seeing slight discounts. Future downstream demand lacks positive support, suggesting the market will continue to operate weakly.

Refrigerants:

Based on the bulk liquid market in East China, mainstream factory offers for refrigerant R22 showed weak stability, with the market experiencing a broad decline. As of publication, mainstream large factories in East China quoted around CNY 24,000/ton (combined domestic and export offers); the mainstream market offer in East China referenced CNY 17,000/ton, consistent with morning expectations. Market intelligence indicates that mainstream factory offers for R22 in East China remain weakly stable, with small-package prices dropping significantly, translating to lower bulk liquid equivalents. Factories and channels continue to face pressure in selling bulk liquids, social inventories remain high, and the sluggish macro environment combined with shrinking demand during the traditional off-season has led to poor order acceptance throughout the month in East China, with weak purchasing willingness. The market's broad decline persists even with low industry quotes failing to stimulate demand, exposing the market's lack of momentum. In the short term, the mainstream price for fluororefrigerant R22 (ODS) is referenced at CNY 17,000/ton, maintaining a state of weak stability and stalemate.