Commodity Price Change Ranking
**Ferrous Metals**
Compared with the previous trading day, the ferrous metals sector showed mixed movements. Imported iron ore market rose. Traders showed limited enthusiasm in offering; steel mills restocked as needed, with few inquiries and almost no market transactions. Silicon steel prices were mostly stable with some increases. Black commodity futures edged up slightly, and some merchants raised their offers. However, new downstream projects remained limited, actual demand release was weak, and traders' willingness to actively purchase was low. Overall trading was subdued. Steel mills reported limited new orders. In summary, silicon steel prices are expected to remain mostly stable in the short term. Stainless steel strip prices declined amid fluctuations. Stainless steel futures retreated. Approaching the month-end and holidays, customers were mostly busy with settlement and closing tasks. Transactions continued to focus on discounts, with decent trading volume for low-priced resources during the day. Welding wire market performed weakly. Black commodity futures remained weak, some steel mills lowered their ex-factory prices, and most market distributors cut their offers. Downstream end-users primarily purchased on demand, leading to a quiet trading atmosphere. The welding wire market is expected to operate steadily in the short term.
**Non-ferrous Metals**
Compared with the previous trading day, the non-ferrous metals sector was mixed. The price of 99.95% doped tungsten bars increased, with mainstream offers at 1,450-1,540 RMB/kg, up by 60 RMB/kg from the previous working day. Tungsten material prices followed adjustments in the raw material market. Pre-holiday restocking demand from downstream was weak, financial pressure continued to build, and consumption resistance downstream persisted. The price of 98% sodium tungstate increased, with mainstream offers at 687,000-692,000 RMB/ton, up by 24,000 RMB/ton from the previous working day. Sodium tungstate prices followed raw material market adjustments. Pre-holiday restocking demand from downstream was poor, financial pressure kept increasing, and downstream consumption resistance remained. Industrial-grade lithium carbonate (mainly 99.2%) market prices ranged between 151,000-157,000 RMB/ton, with a market average of 154,000 RMB/ton, down by 4.35% from the previous trading day. Lithium carbonate futures prices fell significantly today, dragging spot prices lower. The futures-spot basis remained stable, with discounts for industrial-grade and battery-grade (quasi) carbonate at approximately 1,700-5,500 RMB/ton. Lithium salt plants maintained active selling intentions, and trader offers remained lively. Overall industry inventories stayed at relatively low levels, continuing a destocking trend this week. Market sentiment for lithium carbonate has cooled. Industrial-grade carbonate prices are expected to fluctuate within a wide range in the short term.
**Petrochemicals**
Compared with the previous trading day, the petrochemical sector was mixed. Domestic bromine market offer prices rose today. The average market price for domestic bromine was 41,500 RMB/ton (brine bromine, tank packaging, tax-included ex-factory price), up by 2,000 RMB/ton from the previous working day, an increase of 5.06%. The average market price for seawater bromine was 36,500 RMB/ton (tank packaging, tax-included ex-factory price). Spot supply in the market remained tight, and company offers were relatively firm. The bromine market is expected to remain stable at high levels tomorrow. Domestic natural rubber market prices fell significantly. The average natural rubber market price today was 16,089 RMB/ton, down by 298 RMB/ton from the previous working day, a decrease of 1.82%. Currently, the tapping suspension area in overseas production regions is expanding, reducing raw material supply, which is a cost-side positive for the natural rubber market. However, futures prices fell this morning, providing bearish guidance. Simultaneously, downstream purchasing enthusiasm was low, with transactions mainly consisting of small orders for immediate needs. BaiChuan YingFu expects natural rubber prices to fluctuate tomorrow.
**Coal & Coal Products**
Compared with the previous trading day, the coal and coal products sector was mixed. Coking phenol market probed higher at low levels. Coking phenol with 95% content was referenced at 4,700-4,800 RMB/ton. Petroleum phenol prices rose, while new orders for coking phenol were scarce. The price gap with petroleum phenol widened. Coking phenol is expected to consolidate within a narrow range. Crude benzene market pushed higher. Main production regions (Shanxi, Hebei, Shandong) mainstream reference prices were temporarily 4,650-4,950 RMB/ton. During today's session, crude oil opened high and moved lower, affecting pure benzene and styrene futures prices to decline, weakening market sentiment. Although strong price resistance from downstream constrained crude benzene prices, the earlier strength in related products might boost market sentiment. Therefore, crude benzene market is expected to lead gains regionally today, with increases of 50-200 RMB/ton. Anthracene oil market offers declined. Main production regions (Shandong, Shanxi, Hebei, Central China) temporary reference prices were 3,550-3,850 RMB/ton. As raw material coal tar market trended downward, negative factors constraining the anthracene oil market emerged. Trading sentiment in the market weakened, with offers mainly moving lower. Downstream carbon black, still under market pressure, showed strong resistance to anthracene oil feedstock and poor purchasing sentiment. With multiple negative factors, anthracene oil is expected to weaken further in the short term.
**Other Industries**
Compared with the previous trading day, other industries showed mixed performance. Egg prices rose today. The average egg price was 4.22 RMB/jin, up by 0.04 RMB/jin from the previous working day, an increase of 0.96%. Current inventory pressure in production and sales areas is limited, consumption still provides support, and market sentiment is not significantly bearish. Egg prices adjusted slightly stronger today. L-Threonine market rose narrowly. Some factories raised offers to some customers today. Manufacturers' comprehensive contract prices increased to 7,000-7,200 RMB/ton. In the distributor market, previous low prices were hard to find. Downstream restocked based on rigid demand, pushing prices up. Transaction references were 7.15-7.4 RMB/kg (price differences exist for different brands and regions). The L-Threonine market is expected to rise slightly. Based on cost calculations, the domestic lithium battery electrolyte market reference average price was 35,000 RMB/ton, down 4.11% from the previous trading day. Market sentiment was flat. Main raw material market prices frequently hit lows, weakening cost support for electrolyte. Some order prices were lowered. Coupled with lackluster electrolyte market demand and no significant increase, manufacturers mainly produced orderly based on orders. Electrolyte market prices are expected to run steadily tomorrow. The cost reference price range for lithium battery electrolyte tomorrow is expected to be 28,000-40,000 RMB/ton.