SunSirs: The Market Price of Cryolite Was Consolidated in August
September 04 2023 15:01:01 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of cryolite remained stable and fluctuated slightly in August. As of August 31st, the average market price in Henan Province was 7,850 RMB/ton, which was the same as the price at the beginning of the month at 7,850 RMB/ton, with a year-on-year increase of 2.28%.
Analysis review
In August, the domestic cryolite market was consolidated, and quotations from cryolite enterprises were mainly stable. Upstream prices had risen within the month, leading to an increase in production costs for cryolite. However, downstream consumers were more resistant to high priced cryolite, and their enthusiasm for purchasing in the market was not high. Although cryolite manufacturers maintained rational inventory, it was difficult to increase their prices. Manufacturers negotiated to ship, and the market mentality was wait-and-see, and cryolite prices were stable.
On the upstream side, the domestic fluorite market continued to rise in August, and the gaming situation in the domestic fluorite industry remained. The operating rate of enterprises remained low, and it was difficult to start raw ore operations. The spot supply of fluorite was tight, and the demand side hydrofluoric acid price rose, supporting the rise of the fluorite market. The price trend of fluorite prices increased, and as of the end of the month, the average price of fluorite was 3,168.75 RMB/ton, an increase of 3.68% compared to the price of 3,056.25 RMB/ton at the beginning of the month.
The downstream aluminum market fluctuated and rose in August. At the end of the month, the average price of domestic aluminum ingots in the East China market was 19,173.33 RMB/ton, an increase of 3.10% compared to the average market price of 18,596.67 RMB/ton at the beginning of the month. In August, electrolytic aluminum inventory was relatively low, with tight spot supply and good inventory performance. At the same time, terminal market demand was relatively strong, supporting the upward trend of aluminum prices in the market.
Market outlook
Cryolite enterprises maintained rational inventory, manufacturers actively shipped, downstream demand was average, market trading atmosphere was weak, raw material construction continued to be low, and strong price increases provided support for cryolite. At the same time, the downstream aluminum market was also operating strongly. Supported by costs, it is expected that the cryolite market may be sorted upward in the future, and specific attention should be paid to changes in manufacturers' inventory and downstream acceptance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
