Hydrofluoric Acid November contracts referenced at RMB 15,300–15,650/ton as fluorite holds steady

1. Today's Summary

① Sentiment in the domestic fluorite market remains predominantly wait-and-see today, with limited upside potential. The mainstream price for 97% wet fluorite powder is referenced at RMB 3,300–3,800/ton.

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

2. Spot Market Overview

Table 1: Domestic Fluorite Price Summary (Unit: RMB/ton)

Data Source: Chempricehub Information

Supply-demand dynamics in the domestic 97% fluorite concentrate market have intensified today. Inquiry sentiment within the market is cautious, with many participants adopting a wait-and-see approach. Prices in Northwest and North China markets have largely stabilized, with trading focus trending lower. In Shandong, inquiry sentiment is also cautious; downstream demand exerts strong pressure on prices, while holders of inventory, despite bearish outlooks, face rising hydrofluoric acid costs, leaving limited room for concessions. In Jiangxi and Fujian, bargaining continues between suppliers holding firm on prices and buyers showing limited acceptance. Current delivered spot price references by region are as follows: Inner Mongolia RMB 3,300–3,400/ton; Zhejiang RMB 3,600–3,700/ton; Jiangxi/Fujian RMB 3,700–3,800/ton; Shandong RMB 3,500–3,600/ton; Northwest China RMB 3,250–3,350/ton; Henan/Anhui RMB 3,250–3,350/ton. As of press time, the mainstream delivered price for domestic 97% wet fluorite powder is referenced at RMB 3,300–3,800/ton.

3. Production Dynamics

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

4. Price Forecast

Fluorite market upward momentum is strong but future upside space is limited. The anhydrous hydrofluoric acid market receives robust support from cost pressures.

5. Related Product Status

Anhydrous Hydrofluoric Acid (AHF) Market:
Sentiment in the domestic AHF market is cautious today. Market atmosphere has cooled compared to previous periods. Regarding raw materials, the fluorite market shows divergent trends; although some regions exhibit strong upward momentum, actual support is limited. Meanwhile, the sulfuric acid market continues to soften, with large-scale maintenance unable to halt the downtrend, resulting in weak cost support. Producers currently enjoy substantial profit margins, supporting high operating rates, and market participants have become desensitized to the previous supply-tightening situation. As of press time, the mainstream delivered price for domestic AHF in November is referenced at RMB 15,300–15,650/ton, with the Shandong market referencing RMB 15,500–15,600/ton.

Sulfuric Acid:
Today, the Chempricehub index for 98% sulfuric acid stands at RMB 1,380/ton, unchanged from the previous period and consistent with morning expectations. Nationwide, insufficient positive drivers support the market, with intense bargaining observed in Henan. In the Jiyuan area, some acid plants have completed maintenance, and restarts are gradually loosening regional supply. However, demand from downstream chemical industries has not significantly recovered, end-user procurement remains cautious, and weak pricing in neighboring Shandong continues to constrain Henan prices, widening negotiation spaces for local producers. Transaction centers in Yunnan have shifted downward. Persistent weakness in the downstream fertilizer market, combined with recent declines in sulfur prices, has reduced willingness among downstream buyers to procure external sulfuric acid. Some enterprises plan upcoming maintenance, leading to further decreases in procurement volumes. Dicalcium phosphate producers are primarily purchasing based on immediate needs, providing insufficient overall demand support. Market sentiment is cautious, with transactions driven by actual orders. To retain existing key clients, major local acid plants lowered prices by RMB 40/ton yesterday; although the main Honghe acid plant plans future maintenance, it will also follow suit with a RMB 40/ton price cut tomorrow due to market weakness. Producers face pressure on shipments with limited new order execution, and traders remain cautious in operations. Supply in Hebei is tight, keeping prices elevated. Ore-based acid plants in Qinhuangdao and Handan remain under maintenance, while sulfur-based producers mainly sell internally, resulting in low overall supply and placing Hebei prices above those of surrounding regions. Meanwhile, low-priced sulfuric acid continues to flow into the region, primarily from Hubei, Inner Mongolia, and Shandong, with potential inflows from Liaoning recently noted. Currently, negative factors dominate the domestic sulfuric acid market, suggesting a slight downward trend in prices in the short term.

Refrigerants:
Based on the bulk liquid market in East China, quotes from major manufacturers for R134a refrigerant remain firm, largely aligning with morning market expectations. As of press time, quotes from major East China manufacturers reference RMB 65,000–70,000/ton (coordinated domestic and export prices), while mainstream market quotes reference RMB 63,500–65,000/ton (ex-factory tax-inclusive), consistent with morning expectations. Market intelligence indicates that quotes for R134a from mainstream East China factories remain firmly high. OEM contracts are being negotiated at elevated levels. Low-cost channel inventories have been largely cleared, remaining quota allowances at tail-end factories are scarce, and production quotas for H2 2026 continue to increase, keeping transaction centers firm. News suggests the fluororefrigerant market adheres to "anti-involution" principles, with rigid quota supply creating scarcity. Domestic quotes remain firmly high, and although export markets have seen slight adjustments, they remain robustly high. Chempricehub forecasts that major East China manufacturers will maintain firm quotes, and the short-term R134a market will likely consolidate at high levels.