Carbon Black Daily Report: Bearish Sentiment Rises
01 Carbon Black Index
According to data from TuDuoDuo, the carbon black price index was 7294.5 on July 20th, remaining stable compared to the previous trading day.
02 Carbon Black Market Price
03 Analysis of the Impact on the Carbon Black Market
1. Upstream Raw Materials: Coal tar prices in Shandong were 4000 yuan/ton; in Shanxi, 4020 yuan/ton; and in Hebei, 4000 yuan/ton. The domestic high-temperature coal tar market is still mainly digesting the price decline. In the short term, with no immediate positive factors for major downstream products, the coal tar market will continue to absorb negative factors.
2. Carbon Black Supply: The operating rate of sample enterprises in the domestic carbon black market declined slightly. Due to the recent pressure on carbon black shipments and the accumulation of inventory, some large factories in the region reduced their operating rates. Meanwhile, a factory in East China is still under maintenance. Overall, the operating rate of carbon black enterprises declined during the week.
3. Downstream Demand: It is understood that companies that underwent maintenance earlier are gradually resuming operations, and production facilities are entering a phase of gradual restart, leading to a recovery in the industry's operating rate. However, some manufacturers are still maintaining controlled production due to factors such as market demand and cost pressures. Furthermore, the load on restarted facilities is still in the process of increasing, resulting in a relatively limited overall increase in the operating rate.
04. Market Outlook
As of now, the raw material coal tar market continues to decline. Under the influence of negative market factors, new order negotiations in the domestic carbon black market are weak, and the expectation of further price declines in new order offers is relatively strong. Coupled with a strong wait-and-see attitude among downstream buyers, their purchasing enthusiasm is low, and many are waiting for the market to bottom out. The new order volume in the carbon black market is expected to continue to decline.
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