After a long 2-3 year decline, the domestic adipic acid market stopped falling and rebounded in April. According to the Commodity Market Analysis System of Shengyishe, as of April 30th, the monthly increase in adipic acid was 1.48%, indicating a significant shift in the market’s trading focus. At present, the market quotation range for adipic acid is between 9500-9700 yuan/ton, an increase of about 100-200 yuan from the beginning of the previous month. The main reason is the positive cost boost and the relief of supply pressure.

Industrial chain

The above chart shows that the adipic acid industry chain has significantly improved this month, with a focus on growth. Upstream pure benzene and cyclohexane have seen significant increases, while cyclohexanone has remained relatively stable. Adipic acid is often driven up by costs. Downstream demand is sluggish, and product trends have not changed significantly. PA66 operates in a stalemate. Maintain in a relatively weak range.

Cost side: Both pure benzene and cyclohexane have increased

According to the Commodity Market Analysis System of Business Society, the price of pure benzene has increased this month, with a growth rate of 2.16%. Since the beginning of the month, the price of pure benzene has been rising, and after mid month, the price has remained stable. However, towards the end of the month, the price has fallen slightly. As the end of the month approaches, the price of pure benzene in East China ranges from 8600 to 8700 yuan/ton. The price of cyclohexanone has slightly declined, with a decrease of only 0.06% this month. Overall, the cost side is mostly favorable.

Supply side: Temporary maintenance of equipment, supply pressure relief

From the perspective of market supply: In terms of equipment, the overall operating rate of adipic acid slightly decreased in the first half of this month, especially with some equipment undergoing temporary inspections and scar cleaning, resulting in production damage and a slight decrease in supply. The supply pressure was alleviated, helping adipic acid rebound from the market trend. But as the production of the equipment gradually resumed and the supply increased, the trend of adipic acid did not continue to rise in the latter half of the year.

Demand side: Downstream demand is the biggest constraint on adipic acid

Adipic acid downstream still shows lukewarm and lukewarm behavior. The caprolactam and TPU industries are still performing poorly. Downstream factories are cautious in picking up goods, and there has been no improvement in orders to ensure normal start-up demand. Taking PA66 as an example, according to the monitoring of Business Society, the price of PA66 this month was 0, and the market was hovering at the bottom. At the end of the month, the market price of PA66 in Zhejiang Province was around 22500-23000 yuan/ton. At present, weak demand is the fundamental reason why adipic acid has not been able to continue its upward trend.

Future prospects

Business Society Adipic Acid Analysts believe that on the cost side, there is still geopolitical support for crude oil in the near future, as well as the strengthening of the US dollar due to the decreasing probability of the Federal Reserve’s interest rate cut. Pure benzene has fallen slightly at the end of the month, and it is not ruled out that prices may continue to decline. The cost side may experience a shift from positive to negative in the later period. The supply and demand sides tend to balance in the short term, and a large number of repaired devices will suppress the weak demand. Overall, it is expected that adipic acid will continue to consolidate the market in May, with weak and stagnant fluctuations.

1、 Price trend

According to the commodity market analysis system of Shengyishe, the price of trichloroethylene in barrels decreased in April, while the factory price of loose water increased. On April 30th, the average market price of trichloroethylene in barrels in China was 6500 yuan/ton, and on April 1st, the average market price of trichloroethylene in barrels was 6600 yuan/ton. The market price of trichloroethylene in barrels decreased by 1.52% within the month, and the mainstream ex factory price of trichloroethylene bulk water was quoted at 4800-5000 yuan/ton, increasing by 150 to 200 yuan/ton.

2、 Analysis and Review

In early April, the demand trend in the trichloroethylene market warmed up, and the increase in the factory price of loose water drove the barrel packaging market to narrow rebound, shifting the overall focus of the market upwards. In the middle of the year, the market for trichloroethylene has stabilized, with stable production and a stable trading atmosphere in the market. Downstream demand based procurement is the main focus, and the trichloroethylene market is maintaining stable operation. Manufacturers have a strong mentality of price support. At the end of the month, some dealers sorted out their inventory before the holiday, and the market price of trichloroethylene in barrels was slightly reduced.

The following is the price situation of mainstream manufacturers of trichloroethylene dispersion water in April:

The factory quotation for loose water in Shandong region is 4800-5000 yuan/ton, an increase of 150 yuan/ton compared to the beginning of the month;

The factory quotation for loose water in the southwest region is around 4800 yuan/ton, an increase of 200 yuan/ton compared to the beginning of the month;

The factory quotation for loose water in Inner Mongolia is 4800-5000 yuan/ton, an increase of 150 yuan/ton compared to the beginning of the month.

Cost side:

The market for raw material calcium carbide has stabilized after a decline. After entering April, the domestic calcium carbide market has experienced a continuous decline and has recently stabilized and consolidated. The focus of the ethylene market has slightly shifted downwards. The current average price of ethylene CFR in Northeast Asia is 905 US dollars per ton, while the average price of ethylene CFR in Southeast Asia is 1010 US dollars per ton, and the market remains strong. The domestic ethylene quotation in East China is 7450 yuan/ton, a decrease of 50 yuan/ton from the beginning of the month. The main focus is on pre holiday factory inventory, and the trading atmosphere is average. The liquid chlorine market has a volatile trend, fluctuating up and down. The current factory price in Shandong region is 350 yuan/ton, an increase of 50 yuan/ton from the beginning of the month.

Supply side:

In April, the domestic trichloroethylene plant started normal operation and the supply was stable. Trichloroethylene is a net export product. According to customs data, the export volume of trichloroethylene from China in March 2024 was 2115 tons, a year-on-year decrease of about 3% and a month on month increase of 69%. The total export volume from January to March 2024 was 6102.96 tons, a year-on-year decrease of about 1%.

Demand side:

The market focus of refrigerant R134a remains high. On April 30th, the average price of refrigerant R134a was 31000.00 yuan/ton, an increase of 1.09% from the beginning of the month’s price of 30666.67 yuan/ton, and an increase of 22.37% compared to the same period last year. The market supply is stable, and R134a is mainly used as a refrigerant for automotive air conditioning systems. In the first quarter of 2024, China’s automobile production and sales reached 6.606 million and 6.72 million respectively, with year-on-year growth of 6.4% and 10.6%, respectively. The industry prosperity index has rebounded, and downstream demand remains unchanged. However, the price competition in the automotive industry is exceptionally fierce, with a profit margin of only 4.3%. At present, the refrigerant R134a market will continue to operate steadily.

3、 Future Market Forecast

The trichloroethylene analyst from Shengyishe believes that the downward shift of the cost center is limited, and the demand side is strong at a high level. It is expected that the trichloroethylene market will operate steadily in the later stage.

Domestic cobalt prices fell in April

According to the cobalt market analysis system of Business Society, the cobalt price on April 30th was 213100 yuan/ton, a decrease of 4.87% compared to the cobalt price of 224000 yuan/ton on April 1st. The cobalt market performance in April was weak, with cobalt prices fluctuating and falling.

According to the cobalt market analysis system of Business Society, the cobalt market performance did not fall short of expectations. The cobalt price increase in March was not sustainable, and the cobalt price slightly declined in April.

The proportion of installed capacity of ternary batteries has decreased

According to data released by the China Automotive Power Battery Industry Innovation Alliance, in terms of vehicle installation volume, in March, the installed volume of ternary batteries was 11.3GWh, accounting for 32.4% of the total installed volume, a year-on-year increase of 29.7% and a month on month increase of 62.9%; From January to March, the cumulative installed capacity of ternary batteries was 30.9Wh, accounting for 36.2% of the total installed capacity, with a year-on-year increase of 47.8%. The installed capacity of ternary batteries increased on a month on month basis, but the proportion of installed capacity of ternary batteries decreased. The demand for cobalt in ternary batteries grew less than expected, which is bearish for the cobalt market.

International cobalt price decline

According to the cobalt price trend chart of the London futures trading market, it can be seen that cobalt prices in the LME market fell in mid April. The decline in international cobalt prices is bearish for the domestic cobalt market.

According to the trend chart of MB cobalt prices, it can be seen that there was insufficient support for the rise of MB cobalt prices in April, and cobalt prices fluctuated and fell in the middle and late stages. The decline in international cobalt prices is bearish for the domestic cobalt market.

The import volume of cobalt raw materials has increased significantly

According to data from the General Administration of Customs, the total import volume of cobalt raw materials in March was 48660 tons, equivalent to 14726 metal tons of cobalt. The import volume of cobalt raw materials in March increased by 8.39% month on month. The import volume of cobalt raw materials increased significantly from January to March, and coupled with stable sea transportation in South Africa, the cobalt market continued to experience oversupply.

Overview and Outlook

According to data analysts from Business Society, the proportion of installed capacity of ternary batteries has decreased, and the demand for cobalt in the market has not increased as expected. In addition, the import volume of cobalt raw materials has increased significantly, leading to a decrease in the supply and demand of cobalt in the market; In the international market, the fluctuation and decline of international cobalt prices have a negative impact on the domestic cobalt market. Expected cobalt prices to fluctuate and fall in the future.

According to the commodity market analysis system of Shengyishe, the domestic ammonium nitrate market price trend slightly declined in April. As of the end of the month, the market price of ammonium nitrate was 3870 yuan/ton, a decrease of 0.51% from the initial price of 3890 yuan/ton, and a year-on-year decrease of 10.83%.

In April, the domestic market price of ammonium nitrate slightly declined, and the operation of domestic ammonium nitrate manufacturers was stable. Recently, there has been sufficient supply of goods on site, and downstream procurement has not been active. The market price of ammonium nitrate has mainly declined. Recently, downstream demand for nitro compound fertilizer has been average, and the purchasing atmosphere in the domestic downstream civil explosive industry has cooled down. Domestic ammonium nitrate manufacturers are operating normally, and the price of ammonium nitrate has been mainly fluctuating recently. As of the end of the month, the mainstream negotiation prices in Shaanxi region are 5300-5500 yuan/ton, Shandong region is 3600-3800 yuan/ton, and Hebei region is 3700-3800 yuan/ton.

The price trend of concentrated nitric acid in China increased in April, with an average price of 1856.67 yuan/ton as of the end of the month, an increase of 6.10% compared to the price of 1750 yuan/ton at the beginning of the month. Mainstream enterprises in East China offer a price range of 1800-1900 yuan/ton, while those in the North and Central China offer a price range of 1800-2000 yuan/ton. At present, the supply side of the concentrated nitric acid market is supported, and the cost trend has slightly increased. The market mainly relies on orders, and the market transaction situation has improved. Industry insiders are mostly wait-and-see, and the price of nitric acid has increased. As a result, the price of ammonium nitrate in the market has not changed much.

The price of upstream liquid ammonia slightly decreased in April, with a price of 2983.33 yuan/ton as of the end of the month, a decrease of 2.93% from the price of 3073.33 yuan/ton at the beginning of the month. In April, the maintenance equipment resumed work one after another, and the supply side showed loose performance. Coupled with the downstream urea being partially converted to liquid ammonia, the amount of ammonia released has increased. And downstream procurement enthusiasm is not high, the peak season for agricultural demand procurement is approaching, industrial demand remains in high demand, and the sluggish demand side has suppressed the price of liquid ammonia. At present, the mainstream quotation in Shandong region is between 2950-3100 yuan/ton, and the market price of ammonium nitrate has slightly decreased due to the impact of cost decline.

Recently, the procurement of downstream civil explosive industry has come to an end, and the demand for nitro compound fertilizer has gradually opened up. The price trend of nitric acid has increased, and the liquid ammonia market has risen in late April. Supported by positive factors, ammonium nitrate analysts from Business Society believe that the market price of ammonium nitrate remains mainly volatile.

1、 Price trend

According to the Commodity Market Analysis System of Business Society, the average market price of chlorinated paraffin 52 in China on April 28th was 5666 yuan/ton, which is 0.89% higher than the average price of 5616 yuan/ton on April 1st.

2、 Market analysis

This month, the market price of chlorinated paraffin was initially suppressed and then increased. In early April, the prices of raw material liquid wax and liquid chlorine increased, providing strong cost support. Driven by cost assistance, chlorinated paraffin enterprises have raised their quotations. In mid April, the market price of chlorinated paraffin remained stable. The manufacturer is operating at low load, downstream procurement is required, and actual orders are discussed in detail, with limited market investment. As late April approaches the end of the month, the market for raw material liquid wax weakens, and the market price of chlorinated paraffin falls. As of April 28th, the ex factory price of 52 environmentally friendly chlorinated paraffins in Anhui region is about 6000 yuan/ton, and the market price of 52 national standard chlorinated paraffins in Shandong region is about 5500-5800 yuan/ton.

In terms of raw material liquid wax, the price of liquid wax rose first and then fell this month. At present, the market trend is weak, and liquid wax fluctuates with the crude oil market. In terms of raw material liquid chlorine, the price of liquid chlorine fluctuated this month. At present, the market trend is improving, and the shipment situation is still good. Negotiations on actual orders are the main focus.

According to the weekly ups and downs from January 29, 2024 to April 15, 2024, it can be seen that the domestic chlorinated paraffin cycle saw mixed ups and downs. There was a significant increase in April, with the highest increase of 0.59% in the weeks of April 1st and April 8th.

3、 Future Market Forecast

According to analysts from Shengyishe Chlorinated Paraffin, the prices of raw material liquid wax have continued to decline recently, with average cost support. The downstream demand for chlorinated paraffin is average, with limited market trading. It is expected that the market price of chlorinated paraffin will be weak in the short term, with consolidation and operation being the main focus.

Market analysis for this week

This week, the magnesium ingot market remained stable and stable, with a slight increase in magnesium ingot prices at the beginning of the week, an increase of about 200 yuan/ton. However, in the middle and later stages of the week, there was little overall change in the market, and the downstream high price delivery capacity was insufficient, resulting in a stalemate in the market transaction atmosphere. According to the Commodity Market Analysis System of Business Society, as of April 19th, the average price of magnesium ingots in the domestic market was 18733.33 yuan/ton, an increase of 1.08% compared to the previous week.

In terms of supply and demand

The number of factories reducing production and shutting down has increased, leading to a decrease in inventory pressure and a firm quotation from manufacturers. But currently, the market is mainly focused on purchasing for essential needs. At the beginning of the week, some downstream users made moderate purchases due to the sentiment of “buying up but not buying down”. Downstream users followed up cautiously in the middle and later stages of the week, although there were a small number of transactions, the main focus was still on essential needs users.

In terms of raw materials

This week, the market quotation for ferrosilicon in Ningxia was 6300-6400 yuan/ton, an increase of 150 yuan/ton from last week. There is not much inventory in the factory, and some production orders are mainly scheduled. Recently, bidding prices have been introduced to stop the decline and increase. With the increasing positive information, industry confidence has been significantly boosted, and there is a strong reluctance to sell, leading to an increase in market quotations.

This week, the national blue charcoal market operated steadily with a strong bias. Against the backdrop of high cost pressures and low market inventories, some blue charcoal enterprises increased prices by 20-80 yuan/ton. As of April 19th, the mainstream prices of small and medium-sized materials in the Shenmu market were 740-950 yuan/ton, and the coke surface was 580-650 yuan/ton; The mainstream price of small and medium-sized materials in the Fugu market is 720-900 yuan/ton, and the coke surface is 620-700 yuan/ton.

Future Market Forecast

Overall, the magnesium ingot market is showing a stable and positive trend, with an increase in market inquiry enthusiasm. However, the actual downstream demand has not significantly improved. After the continuous increase in magnesium prices, downstream users have insufficient acceptance of high prices. However, the silicon iron market on the raw material side is gradually rising, and the cost support for magnesium ingots is strengthening, while manufacturers maintain a price mentality. Therefore, it is expected that the domestic magnesium ingot market will consolidate and operate in the short term.

According to the commodity market analysis system of Business Society, the 1 # electrolytic manganese market operated weakly this week (April 15th to April 22nd), with market prices in the East China region dropping 0.37% to 13500 yuan/ton on April 22nd.

In terms of manganese ore: This week, the Tianjin Port manganese ore market saw a significant increase, with manganese ore prices continuing to rise near the holiday, and transactions showing some improvement. In terms of prices, South African semi carbonates were sold at 37.5-38 yuan/ton, South African high-speed railways were sold at 28.5 yuan/ton, Gabon at 40.5-41 yuan/ton, and Australia at 42-42.5 yuan/ton. This week, the sentiment of price support in the Qinzhou Port manganese ore market dominated, with some miners holding back and reluctant to sell. Due to limited demand in the south, the mid week increase was relatively flat. Semi carbonated carbon costs 35.5-36 yuan/ton, Australia 40 yuan/ton, Gabon 39 yuan/ton, South Africa high-speed rail 29-29.3 yuan/ton.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the weekly and monthly electrolytic manganese K-bar charts above, it can be seen that the recent trend of the electrolytic manganese market is relatively weak.

This week, the electrolytic manganese market continued to operate steadily with a weak trend. The mainstream price in the market this week was concentrated between 12000 to 12100 yuan/ton, which was unchanged from last week’s price. Under the mentality of supply-demand competition, the recent fluctuations in the spot market have been limited. In terms of supply, the recent changes in operating rates have been limited, and the supply is relatively stable. Currently, prices are close to the cost line, and production enterprises have average enthusiasm for shipping, with a strong attitude of price support. In terms of demand, downstream enterprises replenish their inventory as needed. As the May Day holiday approaches, most downstream enterprises have pre holiday stocking needs, but overall they tend to have a strong demand. The recent performance of steel recruitment has been weak, with most of the steel recruitment prices currently introduced falling, dragging down market sentiment, and the spot market leaning towards wait-and-see. Under the mentality of supply-demand competition in the future market, it is expected that the electrolytic manganese market will continue to operate weakly in the short term due to the lack of demand support, and the downward space is limited due to cost support.

Related data:

This week, the silicon and manganese market has been fluctuating strongly, and the current increase in spot prices of silicon and manganese still does not match the speed of increase in raw material prices. The first round of increase in coke prices has started this week, with a cumulative increase of 100-110 yuan/ton, and the cost of silicon and manganese has increased by 90 yuan/ton. At the same time, various varieties of manganese ore have shown different ranges of increase, and there is a strong reluctance to sell in mines. High priced ore in the market continues to increase. According to the commodity market analysis system of Business Society, the market price of silicon manganese in Ningxia region (specification FeMN68Si18) was around 5850-5950 yuan/ton on April 19th, an increase of about 150 yuan/ton compared to last week.

Steel recruitment situation:

The bidding price of Jiangsu Shagang Metal Manganese Ingots, including tax, is priced at 12750 yuan/ton for factory acceptance, a decrease of 300 yuan/ton from March. Quantity: to be determined. Delivery date: to be determined.

The bidding price for metal manganese ingots at Baowu Egang in April 2024, including taxes, was priced at 12600 yuan/ton upon acceptance, a decrease of 200 yuan/ton from March. The quantity is 100 tons, and the delivery date is April 30, 2024.

Industry data:

On April 21st, the base metal index was 1293 points, unchanged from yesterday, a decrease of 19.99% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 101.40% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On April 21st, the non-ferrous index was at 1204 points, unchanged from yesterday, a decrease of 21.72% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 98.35% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the 16th week of 2024 (4.15-4.19), there were a total of 9 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were tin (4.79%), copper (3.62%), and lead (2.09%). There are a total of 8 products with a month on month decline, and the top 3 products with the largest decline are aluminum (-1.93%), dysprosium oxide (-1.48%), and cobalt (-1.25%). The average increase and decrease this week is 0.32%.

1、 Price trend

According to the commodity market analysis system of Shengyishe, the NMP market has remained stable this week. On April 15th, the average price of NMP was 11766 yuan/ton, and on April 19th, the average price of NMP was 11766 yuan/ton, with no fluctuations during the cycle.

2、 Analysis and Review

According to the Commodity Market Analysis System of Business Society, the NMP market remained weak this week, with mainstream retail prices in the domestic electronic grade NMP market reaching 11500-12000 yuan/ton as of Friday. The raw material end BDO experienced a narrow decline this week, with weak market performance and a stalemate in consolidation operations. The NMP market quotation is temporarily stable, and there is no significant improvement in the downstream demand market. Trading is weak, and the trading atmosphere is relatively weak.

As of April 19th, the mainstream prices of NMP bulk water in different regions of China are as follows:

Region/ April 19th

East China region/ 11500-12000 yuan/ton

Central China region/ 11500-11800 yuan/ton

Southwest region/ 11800-12000 yuan/ton

Raw materials: The BDO market has experienced a narrow decline. From April 15th to 19th, the average domestic BDO price dropped from 9100 yuan/ton to 9072 yuan/ton, with a price drop of 0.31% during the cycle.

3、 Future Market Forecast

According to NMP analysts from Business Society, the current willingness of NMP factories to maintain prices is evident. With no significant changes in raw materials and demand, it is expected that the NMP market will maintain a low and stable trend.

According to data monitoring by Business Society, as of April 15, 2024, the domestic market price of butanone was referenced at 8016 yuan/ton. Compared with April 1, 2024 (reference price of butanone was 8033 yuan/ton), the price decreased by 17 yuan/ton, a decrease of 0.21%.

In early April, the overall performance of the domestic butanone market fluctuated narrowly with a slight decline. At the beginning of April, the domestic butanone market remained stable and operated steadily. After returning from the Qingming Festival, the butanone market has been fluctuating for 7 days. In some regions, the shipment of butanone in the market is average, but due to the increased inventory pressure after the festival, the shipment has been narrowly discounted. On the 8th, the butanone market experienced a slight correction, with an adjustment range of 50-100 yuan/ton. Subsequently, the overall consolidation and operation of the butanone market were the main focus. As of April 15th, the domestic market price of butanone is around 7900-8400 yuan/ton.

Fundamental analysis

In terms of supply: Currently, some of the early parking devices in the butanone field have been repaired and started operation. In the later stage, the overall supply of the butanone market may increase, but some other devices also have parking and maintenance plans in the future. Therefore, it is expected that the production increment of the butanone market is limited in the short term.

In terms of demand: Currently, in the downstream slurry of butanone, the operation of large factories is relatively stable, and the demand for raw materials is stable. Some small and medium-sized factories have maintained low operation due to insufficient demand orders. In terms of adhesives, the overall order volume in the silicone adhesive market is average, while the downstream raw adhesive market is weak, putting pressure on overall shipments. In the short term, the positive support provided by bottom-up demand for butanone is not significant.

In terms of exports, domestic demand provides limited support for butanone, therefore, the export market will also be the focus of attention for the future butanone market. It is rumored that there may be maintenance plans for Japanese butanone plants in the second quarter, and the export volume of domestic butanone may increase. The boost in exports can greatly drive the domestic butanone market.

Market analysis of butanone

At present, the trading atmosphere on the butanone site is light, and downstream users are mainly on demand for procurement, with limited incremental new orders on the site. Overall, the Butanone Data Analyst from Business Society believes that in the later stage, if the positive effects on the export of Butanone can be gradually released, there is still a slight upward momentum in the Butanone market. However, the support from domestic demand for the Butanone market is generally average, and the overall upward trend of the Butanone market is limited. The specific trend still needs to pay more attention to the changes in supply and demand news.

The antimony ingot market in East China remained stable from April 8th to April 15th, 2024, with prices remaining stable at 91250 yuan/ton this week.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the above chart, it can be seen that the antimony ingot market has not fluctuated much recently.

This week’s European strategic small metal antimony price situation (unit: USD/ton)

Variety/ April 8th/ April 15th/ Rise and fall

European small metal antimony/ 12850./12950./+100

This week, the price of European strategic small metal antimony has slightly increased, reaching $12950/ton as of April 15th, with an increase of $100/ton.

This week, the antimony ingot market continued to maintain a temporary stable operation. From the perspective of supply, smelting enterprises are currently maintaining normal production. The supply of antimony ingots is relatively stable, but the mining end still maintains a tight pattern. As a result, smelters still have a strong mentality of price support, and the market supply is tight. In terms of demand, downstream industries such as antimony oxide have shown a relatively stable trend in recent times. Enterprises are replenishing their inventory according to demand and maintaining essential procurement. As the May Day holiday approaches, it is expected that there will be a wave of stocking demand in the downstream before the holiday. Driven by the rebound in European antimony ingot prices, market sentiment has slightly improved. In the future, Business Society believes that the demand for downstream holiday restocking will drive a brief rise in the market, and the market will maintain a stable, medium to strong trend in the near future. In the future, the focus will be on the consumption situation of the photovoltaic industry and the impact of environmental policies on the market.

This week, the antimony oxide market remained temporarily stable, while the spot market was weak. Downstream demand replenishment was maintained, and market prices were affected by the stability of the antimony ingot market, with most remaining temporarily stable.

Industry data:

On April 14th, the base metal index was 1269 points, unchanged from yesterday, a decrease of 21.47% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 97.66% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On April 14th, the non-ferrous index was 1186 points, unchanged from yesterday, a decrease of 22.89% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 95.39% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the 15th week of 2024 (4.8-4.12), there were a total of 11 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. Among them, there were 2 commodities with an increase of more than 5%, accounting for 8% of the monitored commodities in this sector; The top three commodities with the highest increase were tin (5.64%), zinc (5.22%), and silver (4.32%). There are a total of 9 products with a month on month decline, and the top 3 products with the largest decline are dysprosium oxide (-1.96%), praseodymium metal (-1.89%), and praseodymium neodymium oxide (-1.28%). The average increase and decrease this week is 0.64%.