[Introduction]: Data shows that as of June 18, the domestic trade offers from major factories for R32, a fluorine-based refrigerant commonly used in air conditioners, and R134a, a fluorine-based refrigerant commonly used in new energy vehicles, were reported at 65,500 yuan/ton and 65,000 yuan/ton respectively, with year-on-year increases of 77.03% and 32.65%, and increases from the beginning of the year of 6.00% and 13.00%, reaching new highs for the same period in recent years.

Fluorine-based refrigerant prices in East China remained firm overall, with market activity mainly focused on spot transactions and deliveries. Prices of mainstream varieties were largely stable, with small-package trading more active than bulk supplies, though downstream procurement support was limited. Current channel inventories are under some pressure, but supported by quota controls, companies have a strong near-term inclination to maintain prices. For R32, major factories in East China reported offers of 65,500 yuan/ton (coordinated offers for both domestic and foreign trade). On the supply side, the operating rate for the entire R32 industry remained around 60%, with declining terminal production schedules leading refrigerant factories to control volumes and maintain prices. Channel holders purchased strictly based on demand, with social inventories rising at the beginning of the month, prompting tight inventory control. In the East China market, factories have been ensuring long-term supply to the terminal filling market, but traders showed limited inquiries and procurement. Affected by the domestic and foreign trade environment, terminal production scheduling data shows that air conditioner production scheduling underperformed expectations, with June production expected to decrease by 10%. The export market faced particular pressure, and R32 still needs guidance from demand-side news, being influenced by the terminal.

For R134a, major factories in East China reported offers of 65,000-68,000 yuan/ton (coordinated for both domestic and foreign trade). As of press time, the industry operating rate for R134a was around 60%. Currently, major factories in the East China market have stable production schedules, with limited annual resources. The factories' recent logic of holding firm prices remains unchanged, and production units have increased operating rates to actively realize profits. The R134a market is expected to maintain a wait-and-see game between supply and demand. Due to limited spot volumes, prices are likely to remain at high levels, with factory ex-factory offers ranging from 65,000 to 68,000 yuan/ton.