[Fluorochemical Industry] Market Trend Briefing on August 29th! Enterprises are under pressure to reduce inventory, resulting in a pullback in PVDF prices

Fluorine chemical raw materials

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The latest average price of fluorite powder in the domestic market is 3230 yuan/ton, which remains stable compared to the previous working day. Recently, the fluorite market has shown strong performance driven by cost push, tight supply, and expectations. The reluctance to sell in the market has increased, and low-priced sources are difficult to find. Some mines and beneficiation plants in the south have tentatively raised prices to around 3400 yuan/ton. In addition, with the decrease in temperature in the northern region, the traditional seasonal supply contraction period is approaching, combined with the traditional peak season of "Golden September and Silver October" and the expected demand for winter storage, forming a positive feedback for the market and driving up prices. Regional price reference: 97% fluorite powder from Jiangxi and Fujian in East China, with a delivery price of 3200-3300 yuan/ton; The delivery price for Henan and Northwest regions is 3150-3250 yuan/ton; Delivery price in Shandong region is 3200-3300 yuan/ton; The price in Inner Mongolia ranges from 3150-3250 yuan/ton. Demand driven and pressure coexist, and although hydrogen fluoride pricing has been raised, some companies are still facing the pressure of cost inversion. The slow recovery of terminal consumption has led to poor inventory turnover in enterprises, which to some extent restricts the release of demand. In the short term, coinciding with the traditional peak season of "Golden September and Silver October", the industry has a strong bullish sentiment, and some downstream enterprises have begun to slightly increase their raw material inventory. However, due to limitations in cash flow, the willingness of enterprises to stock up on a large scale is still weak. It is expected that the price of hydrogen fluoride will remain stable in the short term, while the price of fluorite will maintain a trend of easy rise but difficult fall. The follow-up market trend still needs to focus on the follow-up situation of downstream actual procurement.
The liquid chlorine market is operating weakly, and chlor alkali enterprises in Shandong are supporting downstream negative operations. The export of liquid chlorine may decrease, while downstream demand remains stable. The delivery price of liquid chlorine in Shandong is in the range of (-300) - (-350) yuan/ton, showing a negative price trend. The dichloromethane market is weak and stable, with weak demand highlighted. The confidence of industry players is insufficient, and overall transactions are still weak. Shipping at low prices has led to a bearish market mentality. However, current enterprise inventories remain low, and price expectations continue to operate steadily. The mainstream market price is currently between 2000-2100 yuan/ton. The trichloroethylene market is showing a weak and stable trend. The current downstream demand is weak, and market trading activity is low. The mainstream delivery price remains around 4500-4700 yuan/ton. The market for tetrachloroethylene remains sluggish, with low enthusiasm for downstream procurement and significant inventory pressure on enterprises. It is difficult for demand to rebound significantly in the short term, and the supply-demand imbalance remains significant. The current mainstream quotation is concentrated at 3400-3800 yuan/ton, and it is expected that the market will still have little improvement in the short term. The domestic sulfuric acid market is generally stable, with strong overall supply support. The price of pyrite is stable and upward, while the price of sulfur fluctuates at a high level. Currently, downstream consumers mainly consume existing raw materials and are not actively purchasing sulfuric acid. Acid companies are under pressure to ship, and it is expected that sulfuric acid prices will remain stable in the short term.

Fluoride salt

                                 
                                                            Note: The factory price including tax for the enterprise is for reference only, unit: yuan/ton!

The aluminum fluoride market remains stable, with expectations of an upward trend in the future. The prices of raw materials are gradually rising, and the wait-and-see sentiment of enterprises is increasing, which provides certain support for market prices. However, there has been no substantial improvement in downstream demand, and actual transactions remain sluggish, making it difficult to form a sustained upward trend in the short term. The market's weak situation has not changed. The current continuous rise in costs and low transaction prices have increased the production pressure on enterprises, and they are facing the risk of short-term losses. It is expected that the subsequent cost of raw materials will further push the market center of gravity upward, which will help boost the enthusiasm of enterprises to start production, maintain the stable operation of the industry, and enhance confidence in the future market recovery. The current mainstream quotation range is 9500-10000 yuan/ton. The cryolite market shows a stable to strong trend, with mainstream transaction prices fluctuating widely between 7500-9000 yuan/ton. Other fluoride salt markets show significant differentiation: sodium fluorosilicate maintains stable operation, with limited range due to demand constraints, and prices remain in the range of 2400-2500 yuan/ton; The competition in the sodium fluoride industry is fierce, and it has fallen into price competition. The mainstream offer has dropped to 5600-5800 yuan/ton; Due to a sharp decrease in demand, the price of ammonium hydrogen fluoride has been weakly lowered to 8400-8600 yuan/ton; Ammonium fluorosilicate faces difficulties in price transmission due to the sluggish ceramic glass industry chain; The price of potassium fluoride fluctuates between 10200-10500 yuan/ton, and the addition of new production capacity continues to squeeze the industry's profit margins. At present, the entire fluoride salt market is facing a triple dilemma of "cost rigidity, weak demand, and overcapacity", and the market recovery is under significant pressure.
Fluorocarbon compounds

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As the new moon approaches, the offers of domestic refrigerant trading companies need to be adjusted. Compared to the expected adjustment in August, the outlook for the adjustment has been slightly raised. Currently, overseas exports continue to warm up month on month, boosting the reluctance of the domestic market to sell. New home appliance production bases in Southeast Asia are gradually put into operation, driving demand for imported refrigerants from China. The current downstream continues to purchase on demand, with a focus on replenishing inventory for essential needs. The scope of enterprise maintenance in September has not yet expanded, and some high GWP varieties continue to operate at a low level. From a variety perspective, R32 has shown strong performance under the influence of multiple internal and external factors. The tight market supply has intensified the reluctance of enterprises to sell. Currently, the mainstream transaction price is between 59000-60000 yuan/ton, and it is expected that the price will continue to approach a high level. Long term contract orders in the fourth quarter are expected to remain stable in the current circulating market price. Under the influence of the "anti illegal" policy, R22 enterprises have resolutely supported prices to protect the market. The current quotation range is 39500-40500 yuan/ton, and the market circulation is mainly based on small steel cylinder sources. The R134a domestic trade quota continues to be consumed, and the price remains stable at 50000-51000 yuan/ton. The subsequent concentrated increase in exports will drive the market upward. R410a was driven by the high price of R32 and rose to 50000-51000 yuan/ton. Due to weak downstream demand, companies are controlling their quantity to maintain stable prices for R125; However, due to the concentration of quotas and strong demand, R227ea is being sold sparingly by some enterprises, resulting in a rapid consumption of quotas and a tight market supply. As a result, the price remains between 75000 and 77000 yuan/ton. Overall, as the first to break through the anti involution trend, HFC refrigerant products still maintain an upward momentum.
fluoropolymer

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The PTFE market is operating weakly and steadily, and companies are generally under pressure, but prices remain firm. Recently, raw material prices have fluctuated upwards, bringing some signs of recovery to the market. However, due to sustained weak downstream demand and high enterprise operating rates, the market lacks effective support, and the upward momentum is still insufficient. Currently, companies often quote flexibly based on their own inventory, resulting in significant price differentiation of products. The previous price raising measures were less effective than expected, due to the sluggish downstream rigid demand, poor price transmission, and weak upward momentum. At present, there is still a downside risk in the transaction price, with large price differences between different brands. Low end products continue to fluctuate at a low level, and although some individual prices have slightly increased, the overall market is still in a weak range. Current mainstream price: suspended medium particles 37000 to 4000 yuan/ton, suspended fine powder 40000 to 43000 yuan/ton, dispersed resin 39000 to 4000 yuan/ton, dispersed lotion 2800 to 29000 yuan/ton. The PVDF market is experiencing a fluctuating and downward trend. The trading volume in the paint industry continues to be light, with ample market supply and cautious downstream purchasing intentions. Companies have to lower prices in order to win orders, gradually falling into losses. At the same time, the lithium battery sector is also showing a fluctuating downward trend under the dual pressure of continuously releasing new production capacity and high enterprise inventory. At present, the PVDF market generally adopts the main strategy of reducing prices and inventory, and low price competition has gradually evolved into a vicious cycle, causing significant impact on the healthy operation of the market. In terms of price, the individual quotation for coating grade PVDF is 36000-40000 yuan/ton, while the mainstream price for lithium grade PVDF remains at 43000-55000 yuan/ton.
The overall HFP market is in a volatile and weak pattern, with most companies focusing on stabilizing prices and observing, while some companies have slightly lowered their quotes based on inventory conditions. The current industry supply is still at a high level and lacks favorable factors to support it. Manufacturers generally focus on promoting transactions and adjust their quotations flexibly. The mainstream quotation ranges from 32600 to 34000 yuan/ton, and actual transactions are subject to negotiation. The FEP market as a whole shows a stable to weak trend. The supply of low-end products is sufficient, and some enterprises are flexible in adjusting prices due to inventory pressure, with a clear willingness to trade price for quantity; High end products are also affected by the sluggish industry and weak terminal demand, resulting in downward pressure on prices. Overall, the FEP industry is still in a weak stage, and stabilizing prices has become the mainstream trend in the market. Current quotation: 4210-44500 yuan/ton for extruded materials; The molding material costs 55000-60000 yuan/ton. The FKM market appears to have stabilized on the surface, but in reality, there has been a slight correction in trading volume. Affected by the overall industry environment, market trading is generally weak. Except for long-term customers who maintain orders at low prices, individual transactions mostly maintain high quotes. At present, downstream demand remains weak, and the situation of oversupply has not changed. The industry is operating under pressure, and maintaining stability is already difficult. The current mainstream price for binary adhesive is 55-60 yuan/kg, while the price for ternary adhesive is 57-62 yuan/kg. Actual transactions are subject to negotiation.
Fluorinated electronic chemicals

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The lithium hexafluorophosphate market remains stable, with recent weakening of raw material support and general stability of enterprises. The average price of industrial grade lithium carbonate market in China is 76000 yuan/ton, and the average price of battery grade lithium carbonate market is 77500 yuan/ton. Cost transmission has not yet been fully unimpeded, and the market has a strong wait-and-see sentiment. The current mainstream enterprise quotations for the stable operation of the lithium hexafluorophosphate market remain in the range of 54000-56000 yuan/ton, with slight discounts on actual transactions. The upstream and downstream of the lithium fluoride market have once again fallen into a stalemate game. Currently, the lithium fluoride market is maintaining stable operation, with prices ranging from 133000 to 143000/ton, and is expected to show a consolidation trend in the short term. The price of anhydrous hydrogen fluoride on the raw material side has increased, and the market's bullish sentiment continues. On the demand side, there has been a steady increase in performance and an increase in purchasing willingness, but the production and procurement emotions of enterprises are still rational, and there has been no concentrated rush to purchase. At present, some companies are still executing preliminary orders, and negotiations for new orders have been slightly delayed. Due to overall overcapacity in the industry, short-term prices may face slight downward pressure. The market for perfluorohexane is currently showing an oversupply pattern, with continued weak market demand and current prices ranging from 47000 to 50000 yuan/ton. Overall, under the influence of multiple factors such as sustained supply disruptions, approaching peak demand season, and ongoing cost support, the market is expected to continue its volatile trend.