SunSirs: The Market Price of Silica Was Narrowly Upward in May
May 31 2024 11:29:46 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of May 29th, the average price of high-quality rubber grade silica in China was 5,883.33 RMB/ton. In May, the market price of silica was the main trend, with an overall increase of 0.57% this month, with a narrow and strong price range. As of May 29th, the market price of silica remained stable, with a balance between supply and demand, the main focus of negotiations was stable and inventory consumption was normal. The mainstream market price remained around 6,000 RMB/ton.
Analysis review
In May, the silica market showed a narrow upward trend, with limited price fluctuations. The mainstream price continued to remain around 6,000 RMB/ton. As of May 29th, upstream cost support was limited, and downstream demand was average. The main focus was on rigid procurement, with small order and contract customers as the focus. Latest quotations from enterprises: Wuhan Hengjiu Chemical Co., Ltd. offered a price of 6,000 RMB/ton, Hubei Chemical Co., Ltd. offered a price of 6,000 RMB/ton, Jinan Century Lianxing Economic and Trade Co., Ltd. offered a price of 6,000 RMB/ton, and Jinan Xinhou Trading Co., Ltd. offered a price of 5,500 RMB/ton. The company's quotations were mostly stable and had a limited range of fluctuations.
Chemical index: On May 28th, the chemical index was 868 points, unchanged from the previous day, a decrease of 38.00% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 45.15% 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 as of May 29th, downstream demand was average, and upstream cost support was weak. It is expected that the mainstream price will be around 6,000 RMB/ton in the short term.
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