Price trend
According to data monitoring from SunSirs, the price trend of cryolite in March decreased. As of March 31st, the average market price in Henan Province was 7,825 RMB/ton, a decrease of 1.88% compared to the price of 7,975 RMB/ton at the beginning of the month, and a year-on-year increase of 3.64%.
Analysis review
In March, the domestic cryolite market was relatively weaker, and the prices of cryolite enterprises were generally lowered during the month. Some enterprises kept their prices stable based on their own shipment situation. The price of fuel coal decreased, the cost of cryolite was lowered, the downstream destocking of terminals was weak, and the demand for cryolite was weak. In order to stimulate shipments, the price of cryolite was lowered.
On the upstream side, the domestic fluorite market rose in March. Due to safety and environmental requirements, mining enterprises had low operating rates and spot supply of fluorite was tight. At the same time, the price of hydrofluoric acid on the demand side had slightly increased, which had brought certain benefits to the fluorite market, and the price trend of fluorite had rebounded. As of the end of the month, the average price of fluorite was 3,037.50 RMB/ton, an increase of 1.89% compared to the beginning price of 2,981.25 RMB/ton.
The downstream aluminum market fell first and then rose in March. At the end of the month, the average price of domestic aluminum ingots in the East China market was 18,676.67 RMB/ton, an increase of 1.41% compared to the average market price of 18,416.67 RMB/ton at the beginning of the month. After the aluminum price rebounded in January, it fell in mid February. After the Federal Reserve raised interest rates in March, the aluminum price stopped falling and stabilized upward. In March, the overall aluminum price walked out of the "V" shape.
Market outlook
Cryolite enterprises had no inventory pressure, and their raw material supply was tight, the support for cryolite was still fair, and downstream followed up on demand. The enterprise's shipments were average, and the market supply and demand were stagnant. It is expected that the cryolite market will consolidate in the short term.
