【Lead】Since downstream anhydrous hydrogen fluoride (AHF) pricing was set in July, the fluorite market has been locked in a tangled standoff. AHF prices rose 500–750 yuan/ton amid regional supply tightness, and fluorite players watched eagerly, seeking to capture profit margins during the prolonged bottoming-out. Market sentiment briefly peaked.
In mid-April this year, the fluorite market entered a downward cycle. Although some fluorite mines in major producing areas had successively halted operations since May due to multiple safety accidents, blocking continuous supply and forcing beneficiation plants to process accumulated run-of-mine ore inventories, upward pricing sentiment had already begun to build. However, downstream demand kept weakening, downstream pricing continued to fall, and the sulfuric acid market remained in a wait-and-see mode with upward expectations. At the same time, imported Mongolian supply flowed in smoothly, and southern buyers turned to northern supply sources to ease supply gaps. Downstream consumers resisted fluorite price hikes, limiting actual gains.
Mongolia’s Naadam holiday, a fixed national celebration from July 11 to 15, triggered a full five-day closure of the core fluorite clearance ports of Erenhot (Zamyn-Uud) and Ganqimaod under the bilateral China–Mongolia port agreement. Road and rail freight were completely suspended, and mine loading, cross-border transport, and port clearance processes all ground to a halt, directly cutting off Mongolian fluorite flows into China. Even where some smaller ports opened briefly, Mongolian mine workers were all on holiday, leaving mine loading and fleet dispatch nearly idle and sharply reducing freight turnover.
Meanwhile, domestic major fluorite producing areas in Zhejiang, Fujian, and Henan simultaneously carried out special mine safety inspections. Many mines were required to rectify operations and cut output, leaving domestic run-of-mine supply already tight. The contraction in Mongolian imports further widened the raw material gap, and market spot inventories kept declining. Miners and traders became increasingly reluctant to sell, and their price-support sentiment intensified.
The AHF market rose unexpectedly in July during the off-season, further supporting fluorite market sentiment. Producers prepared shutdown or rotating maintenance plans in advance for the upcoming peak season. Early in the month, a major northern plant halted operations temporarily, opening a supply gap and prompting some spot orders to re-enter negotiations. Regional supply tightness significantly pushed up trading levels in the northern and Jiangsu markets. Some end users turned to southern supply for inquiries, and prices rose across the board, adding further momentum to fluorite price-hike calls.
In recent days, Mongolian supply has continued to flow in, and the strong price-hike sentiment in the northern market has cooled from earlier levels. Supply on the demand side has now shifted from mining enterprises to traders, and major downstream plants have entered the market for staged restocking. Trading levels have risen rationally by 150–200 yuan/ton. In the southern market, however, price-hike sentiment remains strong, with high-priced transactions gradually clearing and guiding market sentiment. Market participants remain sensitive: downstream enterprises with inventory pressure are making small, need-based purchases, while some have limited tolerance for high prices. Downstream demand continues to transmit bearish signals, and most buyers believe current prices are inflated. Supply and demand sides remain in a standoff.
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