Refrigerant Market Morning Brief

I. Key Focus Points

1. In November, the reference price for HF procurement tenders at major plants in the East China market was 15,300–15,650 RMB/ton (delivered).
2. The perchloroethylene market remained weak but stable. As of now, the mainstream quoted price in the Shandong market is approximately 3,200 RMB/ton (ex-works cash basis).

Core Logic: Operating rates for R125 refrigerant production units in the East China market have hovered around 40%. Mainstream ex-factory prices in the region remain firm at high levels.