Weak cost support, awaiting further market guidance (Sep 11–17, 2026)

1. Key Market Focus This Week

1. September long-term contract pricing for downstream refrigerant industry: Sinochem Taicang at 15,200 RMB/ton, Shangyu at 15,100 RMB/ton; Juhua at 15,000–15,050 RMB/ton; Meilan at 15,050 RMB/ton; Dongyue at 15,120 RMB/ton.

2. Industry-wide capacity utilization and output are expected to remain stable this week.

3. Fluorocarbon refrigerants maintain firm offer prices, with transactions gradually aligning with these levels.

2. Weekly Market Analysis

Data Source: Chempricehub Information

Weekly Price Table for Domestic Anhydrous Hydrofluoric Acid Market

The domestic anhydrous hydrofluoric acid market exhibited strong wait-and-see sentiment this week. Market participants held conflicted views. From a cost perspective, the sulfuric acid market continued its downward trend within a range, with expectations of further declines before the holiday. Downstream autumn fertilizer demand has yet to pick up, but a rebound is anticipated after the National Day holiday, which is the primary reason for participants' cautious stance. The fluorite market saw limited fluctuations; multi-source supply replenishment combined with resumed operations in Zhejiang to fill gaps suggests stability ahead. Production enterprises currently show limited volatility. Major northern plants have not signaled resumption of operations, leaving supply gaps unfully addressed. Regional tightness in supply and sentiment persists, although the southern market remains generally stable, with enterprises primarily fulfilling contracted orders. While there was some improvement in atmosphere mirroring the northern market earlier in the month, actual transaction realization was limited. On the demand side, market entry sentiment is weak, with significant declines expected later. Approaching holidays led some buyers to lock in inventory early, while logistics restrictions during the holiday period further deepened wait-and-see attitudes. As of press time, the mainstream delivered price for anhydrous HF in East China for September is referenced at 15,050–15,200 RMB/ton, while spot market delivered prices are referenced at 15,500–16,000 RMB/ton.

3. Raw Material Market Analysis:

Weekly Fluorite Market Analysis:

The domestic market for 97% fluorite concentrate exhibited strong wait-and-see sentiment this week as participants awaited direction. Transactions were primarily order deliveries. On the supply side, some fully licensed mines in Zhejiang resumed operations. Although supply injection was limited, it alleviated market tension to some extent. Continuous inflow of Mongolian supplies and batch exports from Xinjiang, with potential future input into East China, significantly eased overall supply tightness compared to previous periods. Demand-side sentiment remains weak. Considering winter stockpiling needs, price suppression pressure is expected to weaken compared to previous periods; however, poor feedback on downstream orders limits room for fluorite price adjustments. Current spot delivered prices across regions: Inner Mongolia 3,300–3,400 RMB/ton; Zhejiang 3,500–3,600 RMB/ton; Jiangxi/Fujian 3,700–3,850 RMB/ton; Shandong 3,550–3,600 RMB/ton; Northwest China 3,400–3,500 RMB/ton; Henan/Anhui 3,400–3,500 RMB/ton. As of press time, the mainstream delivered price for domestic wet fluorite powder is referenced at 3,300–3,850 RMB/ton.

Sulfuric Acid:

Specifically, the average domestic sulfuric acid price this period stood at 1,380 RMB/ton. The market continued its weak trajectory with sluggish trading activity. Downstream acceptance was generally poor, with strong wait-and-see sentiment. On the supply side, major domestic acid producers maintained steady operating rates. Smelter acid continued cross-regional circulation, with low-priced cargoes constantly impacting various regional markets, keeping shipment pressure on enterprises high. Regarding demand, phosphorus fertilizers, titanium dioxide, etc., maintained only rigid procurement, showing weak willingness to actively restock, thus failing to provide effective support. Prices in Central, East, South, Southwest, and Northwest China declined again this week by 90–200 RMB/ton. Overall, cost-side support was limited, intensifying supply-demand games across regions. Short-term downstream demand shows no clear signs of recovery, suggesting the domestic sulfuric acid market may continue to oscillate weakly. Currently, Hubei region 98% smelter acid delivered-to-plant prices hover around 1,250–1,350 RMB/ton, down 3.85%/10.00% week-on-week; Yunnan market 98% smelter acid delivered-to-plant prices are at 1,300–1,350 RMB/ton, down 7.14%/6.90% week-on-week.

R22:

This period, mainstream large factories in East China maintained firm offer prices for fluorocarbon refrigerant R22 for both domestic and foreign trade, with the market continuing a high-level sideways pattern. As of press time, mainstream large factory offers in East China are referenced at 24,000 RMB/ton (coordinated domestic/foreign trade offers); mainstream East China market offers are referenced at 21,000–23,000 RMB/ton, while the mainstream transaction center for R22 (feedstock grade) is referenced at 12,000 RMB/ton. As of press time, bulk demand for R22 (ODS) in the domestic trade market is even quieter, with channel inquiries mainly focusing on small packages, resulting in significantly reduced shipment volumes. Under social inventory pressure, the industry operating rate for R22 (ODS + feedstock grade) remained stable at 69% (unchanged from the previous period). In terms of end-use markets, South China still sees some usage, but seasonal sensitivity in the North leads to significant negative feedback and wide-scale shrinkage in demand. Channel participants mostly adopt a wait-and-see approach, maintaining firm offers while closely monitoring the implementation of official price signals from mainstream large factories. In the short term, mainstream factory offers remain firm, operating loads start low and trend downward, awaiting downstream digestion. Chempricehub forecasts that mainstream factory offers for fluorocarbon refrigerants in East China will remain firm, with R22 (ODS) mainstream factory offers referenced at 24,000 RMB/ton.

R32:

This period, mainstream factories for fluorocarbon refrigerant R32 maintained firm offers, controlling volume to sustain prices. As of press time, mainstream large factory offers in East China are referenced at 65,500 RMB/ton (coordinated domestic/foreign trade offers); mainstream East China market offers are referenced at 63,500–64,500 RMB/ton. As of press time, affected by seasonality, industry demand has softened. Host manufacturers ship according to orders, slowing production pace to control spot output base. During the foreign trade export "window," the supply side actively exports to increase volume, ensuring quota completion rates. Statistics show the R32 industry operating rate remains stable at 44% (unchanged from the previous period), indicating that balancing limited demand space is a better choice than high operating rates leading to inventory accumulation. Market reports suggest that supported by high and firm official offers for R32 and R125, the price range for blended refrigerant R410A remains high and firm. Recent shipments of small-package R410A have been relatively active, stimulating channel price corrections to some extent. Chempricehub forecasts that ex-factory offers for R32 will be referenced at 65,500 RMB/ton (coordinated domestic/foreign trade offers), and ex-factory offers for R410A will be referenced at 59,500 RMB/ton.

5. Next Week's Market Forecast

Based on the above analysis, spot orders in the market have once again reached annual highs. Although this has lifted market sentiment, participants remain rational, and actual transactions are primarily driven by spot orders. Future outlook depends on the resumption of operations at major northern plants and demand performance. Chempricehub forecasts that the domestic anhydrous hydrofluoric acid market will oscillate within a range next week.