Strong wait-and-see sentiment prevails, with divergent market participant perspectives (September 14, 2026)

1. Today's Summary

① The domestic fluorite market shows strong bullish momentum today. The mainstream price for 97% wet powder in the domestic market is referenced at 3,300–3,800 RMB/ton.

② The mainstream contract price for anhydrous hydrofluoric acid (AHF) for September is currently referenced at 15,050–15,200 RMB/ton, while the spot market price ranges from 15,500 to 16,000 RMB/ton.

2. Spot Market Overview

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

Data Source: Chempricehub Information

The domestic market for 97% fluorite concentrate remains firm at high levels. Currently, trading activity in the fluorite market is sluggish, with strong wait-and-see sentiment among industry participants. Some suppliers completed their inventory transactions early in the month, releasing all stock into the market, primarily driven by concerns over a significant decline in future demand. Conversely, some participants remain bullish, supported by rising transaction centers for HF spot orders and expectations of downstream factory restarts, which are anticipated to increase procurement volumes compared to previous periods. Current delivered spot prices across regions are as follows: Inner Mongolia at 3,300–3,400 RMB/ton; Zhejiang at 3,500–3,600 RMB/ton; Jiangxi and Fujian at 3,700–3,800 RMB/ton; Shandong at 3,500–3,600 RMB/ton; Northwest China at 3,250–3,350 RMB/ton; and Henan and Anhui at 3,250–3,350 RMB/ton. As of press time, the mainstream delivered price for domestic 97% fluorite wet powder is referenced at 3,300–3,800 RMB/ton.

3. Production Dynamics

The monthly capacity utilization rate for anhydrous hydrofluoric acid in August was 56%.

4. Price Forecast

Bullish sentiment prevails in the fluorite market, though upside potential is limited. The anhydrous hydrofluoric acid market receives strong support from cost pressures.

5. Related Products Status

Anhydrous Hydrofluoric Acid (AHF) Market:
Today, the domestic AHF market saw range-bound increases. Spot transaction prices have risen noticeably, although the upward trend varies significantly by region. In northern markets, negotiation and bargaining sentiments are prominent. While higher prices guide market sentiment, participants remain relatively rational. Additionally, continuous declines in sulfuric acid prices have expanded profit margins for HF producers, leading to cautious wait-and-see attitudes. As of press time, the mainstream delivered price for domestic AHF in September is referenced at 15,050–15,200 RMB/ton, with spot market prices ranging from 15,500 to 16,000 RMB/ton.

Sulfuric Acid:
Today, the Chempricehub index for 98% sulfuric acid stood at 1,420 RMB/ton, down 120 RMB/ton from yesterday, aligning with morning expectations. Domestic demand remains persistently weak. The Henan market is operating on the weaker side, while external sulfuric acid markets continue to decline, transmitting bearish sentiment within the province. Demand from downstream fertilizer and chemical industries has underperformed expectations, with procurement largely based on immediate needs ("buy-as-needed") and little willingness to restock. Overall trading activity is quiet, and actual transactions often involve room for negotiation. Small acid plants in the Sanmenxia area continued to see declining tender prices this week. In the short term, downstream demand is unlikely to improve significantly. The Henan sulfuric acid market is expected to maintain its weak pattern, with prices facing downward pressure. Key factors to watch include tender results from medium-sized acid plants in Sanmenxia and changes in downstream operating rates. Hebei Province exhibits a state of weak supply-demand balance with quiet trading activity. Regional operating loads remain relatively stable, with no significant shipment pressure in the short term. Downstream enterprises continue to purchase based on essential needs, showing no decrease in resistance to high prices. Low-priced goods from surrounding markets are impacting local sales, causing some customers to shift purchases elsewhere, thereby diverting volume from Hebei acid producers. Currently, the Hebei market is in a weak equilibrium, with low willingness among enterprises to adjust prices. Wait-and-see sentiment dominates short-term trends, making it difficult to change the weak market pattern. It is expected that the domestic sulfuric acid market will maintain steady but weak operations in the short term.

Refrigerants:
Based on the bulk water market in East China, quotes from major manufacturers for Refrigerant R125 remain firm, consistent with morning market expectations. As of press time, quotes from major East China manufacturers are referenced at 60,000 RMB/ton (coordinated domestic and export), while mainstream East China quotes range from 54,000 to 57,000 RMB/ton (ex-factory, tax included), also consistent with morning expectations. Industry-wide operating load for Refrigerant R125 is near 30%. Restart plans for a specific plant in East China within the month remain undetermined. The industry is primarily characterized by reduced loads and low opening rates, with sales focusing on blended and packaged commodity volumes. Quotes for Refrigerants R410A and R507A in the East China market remain firm. Mainstream transaction price centers are relatively stagnant, with limited bulk shipments. For small packages, active selling strategies involving bundled products are being employed. Chempricehub predicts that in the short term, the Refrigerant R125 market will remain in a wait-and-see battle between supply and demand. Quotes will stay firm, but subsequent prices are likely to undergo weak consolidation.