SunSirs: The Silica Market Was Operating Steadily This Week (May 3-10)
May 11 2024 13:20:09 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of May 10th, the average price of high-quality rubber grade silica in China was 5,850 RMB/ton. This week, the overall market price of silica remained unchanged, with stable price operation as the main focus, market supply and demand balance as the main focus, normal inventory consumption, and mainstream prices maintained at around 6,000 RMB/ton.
Analysis review
This week, the stable operation of the silica market was the main focus, with limited price fluctuations. As of May 10th, upstream cost support was limited, and downstream demand was average. The main focus was on rigid procurement. The latest quotations from enterprises were: Wuhan Hengjiu Chemical Co., Ltd. offered 6,000 RMB/ton, Shandong Haideng New Materials Co., Ltd. offered 6,600 RMB/ton, Jinan Century Lianxing Economic and Trade Co., Ltd. offered ,6000 RMB/ton, and Jinan Xinhou Trading Co., Ltd. offered 5,500 RMB/ton. Most of the enterprise quotations were mainly stable, with limited fluctuation range.
Chemical index: On May 9th, the chemical index was 870 points, unchanged from the previous day, a decrease of 37.86% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 45.48% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present)
Market outlook
SunSirs' silica analyst believes that the downstream demand was average, and inventory was sufficient to maintain a high level. It is expected that the mainstream price will be around 6,000 RMB/ton in the short term.
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