Carbon Black Market Oct. 20 Analysis

October 21, 2025, 11:34 AM

TDD-global

3851

Guide

Highlights at a glance

The Carbon Black Index on October 20th remained stable at 6,110.5, according to Tuduoduo data. Prices in key regions showed little movement amid weak market dynamics. Upstream, high-temperature coal tar prices continued to decline, with Shandong and Hebei reporting 3,350 yuan/ton and Shanxi at 3,300 yuan/ton, reflecting sluggish market sentiment and downward pressure on raw material costs. On the supply side, carbon black operating rates dropped as several plants in Shandong and Hebei underwent maintenance, while others operated at low capacity. Demand from downstream sectors remains mixed: some companies reported improved shipment volumes post-holiday due to promotional efforts, but others faced slower sales and rising tire inventories due to price hikes. Overall, purchasing enthusiasm remains low, and inventory replenishment is demand-driven. With sustained cost pressures and narrow profit margins, the carbon black market is expected to remain weak in the near term, trading at low levels amid limited recovery prospects.

01 Carbon Black Index

According to Tuduoduo data, the carbon black price index on October 20th was 6110.5, stable compared to the previous trading day.

02 Carbon Black Market Price

03 Carbon Black Market Impact Analysis

1. Upstream Raw Materials: Coal tar prices in Shandong Province were 3,350 yuan/ton; in Shanxi Province, 3,300 yuan/ton; and in Hebei Province, 3,350 yuan/ton. The high-temperature coal tar market continued its downward trend, and the overall market sentiment was sluggish.

2. Carbon Black Supply: Carbon black companies' operating rates declined. After the holiday, some companies in Shandong Province underwent maintenance, while a major plant resumed operations after maintenance. Hebei Province also underwent maintenance, while companies in other regions maintained low-load operations.

3. Downstream Demand: Currently, production remains generally stable, with some variations in overall shipment performance. Some companies interspersed promotions with sales, resulting in improved shipments compared to pre-holiday levels. Others experienced price increases, slowing shipments and a month-on-month increase in finished tire inventory.

Market Forecast

Currently, the raw material coal tar market is weak, with significant cost drag. Downstream purchasing enthusiasm is low, and price pressure persists. As a result, the market is still trading at a pace driven by demand and inventory replenishment. Looking ahead, carbon black will likely continue to see significant losses, with limited room for profit margins, and will likely remain at a low level.

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