April Price Trend
According to the Commodity Market Analysis System of the Business Society, the price of cryolite remained stable in April. On April 28th, the average market price in Henan Province was 7825 yuan/ton, which was the same as the price at the beginning of the month at 7825 yuan/ton, and increased by 2.29% year-on-year.
In April, the domestic cryolite market was stable and wait-and-see. During the month, the cryolite enterprises’ quotations were mainly stable. Some enterprises in Shandong Province made a small reduction in their quotations according to their own shipments. The raw material prices were stable at a high level. The upstream costs supported the cryolite price at a high level. The downstream demand was general. The market access was followed up as needed. The cryolite enterprises’ shipments were OK, and the market price was stable.
Analysis of upstream and downstream market conditions
On the upstream side, domestic fluorite remained stable and upward in April. Mining enterprises were affected by safety and environmental requirements, resulting in insufficient production of fluorite and tight spot supply. The price of fluorite remained high, while the demand side hydrofluoric acid price slightly increased, which brought some benefits to the fluorite market. The price trend of fluorite slightly increased, with an average price of 3075.00 yuan/ton as of the end of the month, an increase of 1.23% compared to the price of 3037.50 yuan/ton at the beginning of the month.
The downstream aluminum market fell first and then rose in April. At the end of the month, the average price of domestic aluminum ingots in the East China market was 18490.00 yuan/ton, a decrease of 1.00% compared to the average market price of 18676.67 yuan/ton at the beginning of the month. In April, the social inventory of aluminum ingots significantly decreased, and the export situation was average. Domestic production increased, and under the game of supply and demand, the aluminum market fluctuated.
Future Market Forecast
The cost support of cryolite enterprises is good, the supply of raw materials is tight, and the price of cryolite is operating at a high level. Downstream follow-up is needed, and the enterprise’s shipment is still acceptable. The market supply and demand are stagnant, and it is expected that the short-term cryolite market will operate on a wait-and-see basis.
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