[Lead]: With the delivery of previous orders completed and inventory pressure significantly alleviated, the fluorocarbon refrigerant R22 has seen consecutive high-price transactions. Currently, major manufacturers in East China are firmly quoting 22,000 RMB/ton, while agents and channel distributors are offering around 22,500 RMB/ton. A price increase of 1,000–2,000 RMB/ton is expected in the near future, pushing prices to 23,000–24,000 RMB/ton.

By press time, the R22 market in East China had clearly formed a pattern of "production based on sales with limited shipments." Major manufacturers have maintained a coordinated domestic and export quotation of 22,000 RMB/ton, reflecting a generally optimistic outlook on the future market. However, due to factories halting order acceptance before the May Day holiday, channel replenishment resources are limited. Additionally, influenced by the restocking sentiment of secondary and tertiary distributors, channel inventory of R22 has been smoothly reduced. In the final period before the holiday, profit-taking by channel players pushed up quotations, becoming the main driver for further increases in small-package R22. After the holiday, overall trading activity in the R22 market has not yet fully recovered. The industry's operating rate remains stable at 81%, and supply-side control over production pace is quite cautious, with no additional spot resources flowing into the market. This supply-side restraint serves as a key support for the current market uptrend.

The R22 market quotations remain firm, with the mainstream market focus transacting at high levels. Weekly average prices have risen. Combined with the stable monthly pricing of anhydrous hydrogen fluoride in May and the recent weekly average price stability of chloroform, the weekly theoretical profit for R22 has increased, up 2.24% month-on-month. In the short term, the domestic anhydrous hydrogen fluoride market has seen diverging views on bullish and bearish trends due to weakening sentiment in raw materials. Moreover, this week the chloroform market has shown signs of a steady, narrow uptick. Major producers in Shandong, Jiangsu, and other regions maintain reasonable operating rates, with some plants slightly reducing output to regulate delivery pace. Overall enterprise inventories remain low and controllable, with no obvious accumulation pressure. Producers have a strong willingness to stabilize or even raise prices. In the short term, the market lacks strong positive drivers or clear negative factors. With long and short forces interacting, the chloroform market is expected to continue fluctuating within a range, with limited price movement.

In summary, R22 has completed a key transition from "inventory reduction" to "price support." In the short term, under the combined effects of tight supply, cost support, and strong producer willingness to support prices, the market will maintain a strong pattern where prices are likely to rise rather than fall. Key factors to watch going forward include: first, the effectiveness of the "bundled" sales strategy between factories and distributors, and whether a decline in sales of "short-term passive" product models could drag on R22, slowing its shipment pace. Second, the strength of cost support for R22 (both raw material grade and ODS grade) amid uncertainties in raw material trends during the US visit to China. Third, the shift in sentiment between bullish and bearish end-users, and the timing of substantive restocking actions.