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Fluorite Market Rises in October, Insufficient Upside Momentum in the Future reported on October 31st, 2023

2023/11/02 17:45
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The domestic fluorite prices continued to rise in October. By the end of the month, the average domestic fluorite price was 3750 yuan/ton, a 5.63% increase compared to the price of 3550 yuan/ton at the beginning of the month, and an 18.81% increase year-on-year.


Supply Side: Mine Safety Inspections, Tight Fluorite Spot Supply



The current situation in the domestic fluorite industry still involves a game between supply and demand. Overall, the operating rate of enterprises remains low, mainly due to the tightness in upstream mining operations. Outdated mines are being continuously phased out, and the investigation of new mineral resources remains challenging. Additionally, some regions have experienced mining accidents, leading to increasingly stringent safety and environmental requirements for fluorite mining companies. Some mines are undergoing safety inspections, which have made it difficult for fluorite mines to operate. The shortage of raw materials has limited the production of fluorite enterprises, resulting in increased difficulty in starting operations for fluorite flotation enterprises. As a result, the supply of fluorite spot is tight, and the price increase of fluorite is mainly concentrated in the first half of the month. In the second half, the game between the upstream and downstream intensifies, leading to a slight decline in the fluorite market.


Demand Side: Hydrofluoric Acid Prices Rise, Refrigerant Production Remains Low


The domestic hydrofluoric acid prices rose in October, with mainstream prices ranging from 11,400 to 11,800 yuan/ton in various regions. The price of hydrofluoric acid increased by 8.03% in October. Some facilities are still in a shutdown state, and the supply of hydrofluoric acid spot has not changed significantly. The order situation for hydrofluoric acid manufacturers is relatively normal. The price increase of hydrofluoric acid has to some extent supported the rise in the fluorite market. In addition, with the approach of winter storage, the news has also supported the rise in fluorite prices in October.


The downstream refrigerant products have slightly increased in price, but the operating rate of the refrigerant industry remains low, resulting in a lack of enthusiasm for raw material procurement. The production load of R22 refrigerant manufacturers is not high, and downstream purchases are just following the essential needs. Some companies have already consumed their quotas in advance, and the remaining monthly quotas are relatively small. The price trend of R22 remains stable. Domestic R134a manufacturers are operating at low loads, and actual high-end offers have fallen, dampening the purchasing atmosphere. Currently, the market price of R134a is mostly in the range of 25,000 to 27,000 yuan/ton. The refrigerant industry's off-season demand is insufficient, and transactions are relatively flat, which has somewhat restrained the increase in fluorite prices.


In addition to the traditional demand from the refrigerant industry, fluorite is an important mineral raw material in modern industry. Its demand is continuously developing in emerging fields such as new energy and new materials. It is also used in strategic emerging industries such as national defense and nuclear industry, including lithium hexafluorophosphate, PVDF, graphite anode, photovoltaic panels, etc. With the drive of new energy and semiconductor industries, fluorite applications have received certain support, leading to a rise in the fluorite market.


Market Outlook: 

In the near future, the supply of domestic fluorite mines is unlikely to improve significantly due to some mines being shut down for safety inspections. However, the purchasing sentiment of hydrofluoric acid companies is not optimistic, and the game between the upstream and downstream is intensifying. Analyst Chen Ling from Business Society believes that the upward trend of fluorite prices may be hindered, and fluorite prices may experience a slight decline.