The price of anhydrous hydrogen fluoride in the domestic market has remained stable this week. According to the analysis system of Shengyi Society, as of November 6th, the benchmark price of hydrofluoric acid in Shengyi Society was 12533.33 yuan/ton, which remained stable compared to the beginning of the month.
On the raw material side, the price trend of domestic fluorite has declined, and the support on the cost side has weakened. As of November 6th, the benchmark price of fluorite in Shengyi Society was 3518.75 yuan/ton, a decrease of 0.53% compared to the beginning of this month (3537.50 yuan/ton).
Demand side: Downstream demand side encounters traditional off-season, weak demand, insufficient overall consumption capacity, and mainly relies on on-demand procurement. Maintain a wait-and-see attitude and have low purchasing enthusiasm. Overall, the demand side has weak support for hydrogen fluoride, and it is expected that the hydrogen fluoride market will mainly operate weakly and steadily in the later stage.
Market forecast: The price of raw material fluorite will decrease, and cost support will weaken. In addition, downstream demand will be weak due to the traditional off-season, and rigid demand will be the main focus. Overall, downstream consumption capacity is insufficient. It is expected that the anhydrous hydrogen fluoride market will mainly operate weakly and steadily in the later stage. More attention should be paid to changes in market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, multiple negative factors remained in early November, and the domestic adipic acid market declined. On November 1st, the average market price of adipic acid was 6966 yuan/ton. On November 5th, the average market price of adipic acid in China was 6933 yuan/ton, a decrease of 0.48%.
Negative pressure, domestic adipic acid market declines
At the beginning of November, the market for cyclohexanone, a raw material for adipic acid, and pure benzene raw materials was weak. The demand for terminal rigidity is poor, and the transaction volume in the adipic acid market is average. The ex factory price of manufacturers has fallen, and the adipic acid market continues to weaken. As of November 5th, the mainstream market price in Shandong is around 6900 yuan/ton, and the mainstream market price in Jiangsu is 6700 yuan/ton. The average price in the domestic market has dropped to 6900 yuan/ton, a decrease of 100 yuan/ton.
An analyst from Shengyi Society believes that in mid November, the rigid demand in the terminal industry declined, the raw material market weakened, and the adipic acid market showed weak upward momentum in the future.

According to the commodity analysis system of Shengyi Society, in early November, the hydrogen peroxide market fell and prices went down. On November 1st, the average market price of hydrogen peroxide was 930 yuan/ton, and on November 4th, the average market price of hydrogen peroxide was 896 yuan/ton, a decrease of 3.58% in price.
Negative pressure suppresses the downward trend of hydrogen peroxide market
At the beginning of November, the supply of hydrogen peroxide increased, terminal demand weakened, and negative factors compounded, causing the hydrogen peroxide market to gradually decline and prices to fall. The average price of hydrogen peroxide in the Shandong region is 850-900 yuan/ton, with a price drop of 50 yuan/ton. The average price of hydrogen peroxide in the Anhui region is around 870 yuan/ton. As of November 4th, the average price of hydrogen peroxide in the domestic market has dropped to around 890 yuan/ton, with an overall decrease of 50 yuan/ton.
The hydrogen peroxide analyst from Shengyi Society believes that in mid November, the demand for terminal printing and papermaking industry is average, and the pressure on hydrogen peroxide supply is still present. The market will continue to operate weakly in the future.

The phthalic anhydride market fluctuated and fell in October
According to the Commodity Market Analysis System of Shengyi Society, as of October 31, the price of phthalic anhydride in neighboring countries was 5950 yuan/ton, which fluctuated and fell from the price of phthalic anhydride on October 1, which was 6293.33 yuan/ton, and hit the lowest price of phthalic anhydride since March 2021. The price of phthalic anhydride has been declining for seven consecutive months, with a 5.46% drop in October, marking the largest monthly decline of the year.
In October, the prices of raw materials such as ortho benzene fell, industrial naphthalene prices weakly declined, and the cost of phthalic anhydride decreased. The equipment load of phthalic anhydride slightly rebounded in October, and the operating rate of phthalic anhydride enterprises increased. The supply of phthalic anhydride was sufficient, and the downstream plasticizer market fluctuated and fell. The equipment operating load of plasticizer enterprises decreased, and the demand support for phthalic anhydride weakened. Due to the decrease in costs and weak demand, the price of phthalic anhydride fluctuated and fell in October.
The cost of phthalic anhydride decreased in October
On October 31st, Sinopec quoted a price of 6300 yuan/ton for ortho benzene, a decrease of 100 yuan/ton or 1.56% from the price of 6400 yuan/ton on October 1st. The price of industrial naphthalene has fluctuated and fallen, the price of ortho benzene has fallen, and the cost of phthalic anhydride has decreased. The operating load of phthalic anhydride equipment has slightly increased, and the overall operating rate of phthalic anhydride enterprises has risen, indicating sufficient supply of phthalic anhydride.
Demand side: Downstream production decreases, DOP prices fluctuate and fall
According to the Commodity Market Analysis System of Shengyi Society, as of October 31st, the DOP price was 7009.16 yuan/ton, a fluctuating decrease of 4.86% compared to the DOP price of 7367.50 yuan/ton on October 1st. In October, DOP prices fluctuated and fell, with DOP companies operating at less than 60% capacity, resulting in a decrease in operating rates. Demand for phthalic anhydride was weak, and the downward pressure on phthalic anhydride increased.
Future forecast
The data analyst for phthalic anhydride products at Shengyi Society believes that in terms of demand, the DOP equipment load of plasticizer companies has decreased to less than 60%, resulting in a decrease in plasticizer production and a decrease in phthalic anhydride demand support; In terms of supply, the operating rate of phthalic anhydride enterprises has slightly increased, and the supply of phthalic anhydride is sufficient, but the support for the rise of phthalic anhydride is insufficient; In terms of cost, the price of ortho xylene has fallen, the price of industrial naphthalene has weakened, and the cost of phthalic anhydride has decreased. Overall, the cost of phthalic anhydride decreased in October, with weak demand and sufficient supply, resulting in a volatile decline in phthalic anhydride prices.
In late October, the operating rate of DOP enterprises slightly rebounded, DOP production increased, and demand for phthalic anhydride slightly rebounded. The operating rate of phthalic anhydride enterprises increased, and the expected production of phthalic anhydride increased, indicating sufficient supply of phthalic anhydride. In the future, with strong supply and demand, insufficient cost support, and limited downward space for phthalic anhydride prices, it is expected that phthalic anhydride prices will remain weak and consolidate at a low level.

According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fluctuated and rose this week (10.27-10.31), with an average market price of 283510 yuan/ton at the beginning of the week and 284350 yuan/ton at the end of the week, with a weekly increase of 0.30%.
Recently, the fundamentals of tin prices have remained relatively stable, and their trend is more determined by domestic and international macroeconomic expectations. Especially during periods of concentrated macroeconomic favorable factors, tin prices have shown a relatively strong performance.
Against the backdrop of sustained supply side constraints and widening supply-demand gaps, it is expected that tin prices will exhibit a strong upward trend of oscillation. However, given that the current tin price is already relatively high, the consumer response may limit its further upward potential.
At the mining end, the progress of resuming production in Myanmar’s mines is slow, and it is expected that significant recovery will not be achieved within this year, so the supply of imported minerals is still limited. In the refining process, with the completion of the smelting plant maintenance work in October, the operating rate in Yunnan region has significantly increased, and it is expected that the production will show a significant increase. However, due to the adjustment of Indonesia’s RKAB approval system, the export speed of Indonesia will slow down, which may lead to certain restrictions on China’s import volume from Indonesia. Overall, the supply side is still in a tight state.
On the demand side, the growth rate of domestic refined tin consumption has significantly slowed down since the second half of the year. At the same time, due to the high level of tin prices, the purchasing willingness of downstream enterprises has decreased, and the overall performance of the consumer side is weak, mainly driven by rigid demand. We need to pay attention to whether there will be any improvement in the year-end consumer end due to the impulse effect.
comprehensive analysis
Recently, the fundamentals of tin prices have remained stable overall, and their price fluctuations are more influenced by domestic and international macroeconomic expectations. Especially during periods when macroeconomic favorable factors are concentrated, tin prices tend to show a relatively strong trend. Based on this prediction, tin prices may continue to fluctuate and remain strong in the future.