Proceed with caution and await further guidance.

1. Today's Summary

① The domestic fluorspar market remains highly cautious, with prices fluctuating within a narrow range. The mainstream price for 97% wet fluorspar powder in the domestic market is currently referenced at 3,300–3,800 CNY/ton.

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

2. Spot Market Overview

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

Data Source: Chempricehub Information

The domestic market for 97% fluorspar concentrate continues to witness a tug-of-war between supply and demand. Currently, sentiment in southern markets remains tense. The supply side faces persistent constraints due to difficulties in sourcing raw ores and tight release volumes, leaving limited room for price concessions. Meanwhile, major plants in northern regions have resumed production, suggesting a significant increase in downstream output in the future; however, consumption of high-grade fluorspar is expected to decline. The demand side is maintaining its current pace while awaiting further market guidance. Current spot delivered prices across various domestic markets are referenced as follows: Inner Mongolia region at 3,300–3,400 CNY/ton; Zhejiang region at 3,600–3,700 CNY/ton; Jiangxi and Fujian regions at 3,700–3,800 CNY/ton; Shandong region at 3,500–3,600 CNY/ton; Northwest region at 3,250–3,350 CNY/ton; Henan and Anhui regions at 3,250–3,350 CNY/ton. As of publication, the mainstream delivered price for domestic 97% wet fluorspar powder is referenced at 3,300–3,800 CNY/ton.

3. Production Dynamics

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

4. Price Forecast

The fluorspar market remains characterized by strong wait-and-see sentiment. The overall trend for the near future is expected to be weak, with limited fluctuation space. While the AHF market still enjoys strong cost support, market atmosphere has cooled down.

5. Related Products

Anhydrous Hydrofluoric Acid (AHF) Market:
Today’s domestic AHF market shows a cautious wait-and-see attitude. Sentiment within the market has deepened into observation mode. Supply-side output is likely to see a noticeable short-term increase. Recent softness in raw material costs, particularly the declining range in the sulfuric acid market without strong support points, combined with mixed but limited fluctuations in fluorspar prices, suggests a slightly bearish outlook for AHF. On the demand side, consumption patterns remain steady, and the tug-of-war between supply and demand has eased. As of publication, the mainstream delivered price for domestic AHF in November is referenced at 15,300–15,650 CNY/ton, with the Shandong market referencing 15,500–15,600 CNY/ton.

Sulfuric Acid:
Today, the Chempricehub index for 98% sulfuric acid stood at 1,300 CNY/ton, unchanged from yesterday, consistent with morning expectations. The domestic sulfuric acid market is running weakly stable, with the center of gravity shifting downward in Hunan. Major acid plants in the region face no inventory pressure, but low-priced resources flowing in from outside areas are impacting the local market. Overall shipments have weakened compared to previous periods, transaction pacing for new orders has slowed significantly, and negotiated prices for actual deals have dropped accordingly. Additionally, sluggish fertilizer demand from other regions and falling pyrite prices have weakened cost support, while demand lacks positive catalysts, leading to rising bearish sentiment. Consequently, major acid plants lowered prices by 110–140 CNY/ton this week, with small-scale plants in Chenzhou showing notable willingness to negotiate lower prices. In summary, the Hunan sulfuric acid market currently lacks clear drivers on both supply and demand sides: insufficient demand follow-through suppresses price increases, while low plant inventories provide some floor support, limiting short-term declines. In Guizhou, transactions are primarily based on negotiation. Due to earlier drops in sulfur prices, operating rates of local sulfur-based acid units have risen slightly, increasing sulfuric acid supply, while downstream procurement volumes have decreased correspondingly. Both supply and demand sides maintain a cautious mindset. As acid prices enter a downward channel, procurement activity remains subdued, with downstream buyers sticking to rigid demand and small orders, exhibiting strong wait-and-see attitudes and low willingness to stock up proactively. Holders face increased pressure to sell off inventory amid ample supply, causing the center of gravity for actual deal negotiations to drift lower, with some transactions seeing expanded discount margins. Market feedback indicates slower signing of new contracts, cautious operations by traders, and a willingness among acid plants to concede prices to promote sales, although downstream buyers are also aggressively pushing for lower prices, resulting in flexible final transaction prices. Overall, the domestic sulfuric acid market lacks positive support, with bearish sentiment dominating.

Refrigerants:
Based on the bulk liquid market in East China, quotations from major fluorocarbon refrigerant R125 producers in East China remain firm, largely consistent with morning market expectations. As of publication, quotes from mainstream major producers in East China are referenced at 60,000 CNY/ton (aligned for both domestic and export trade), while mainstream market quotes in East China are referenced at 54,000–57,000 CNY/ton (ex-factory, tax-inclusive), also consistent with morning expectations. Industry-wide operating loads for R125 are hovering around 30%. One plant in East China is scheduled for shutdown with no immediate restart plans, and the industry generally maintains reduced loads and low operating rates. Sales of R125 are primarily conducted through blended repackaging and distribution. Recently, quotas for fluorocarbon refrigerant R143a have been nearly exhausted. Supported by costs, quotes for R410A and R507A in East China remain firm, with mainstream transaction centers slightly trending upward while maintaining high levels throughout the week. Bulk liquid shipments are limited, while small-packaging sales employ bundling strategies to actively move inventory. Chempricehub predicts that in the short term, the R125 market will continue to see a standoff between supply and demand, with firm quotes and prices likely stabilizing weakly.