Last week, the domestic refrigerant market as a whole showed a stable operating trend, the core varieties of mono-technology refrigerant R32, R134a market prices remain high and firm, leading to the price of related mixed refrigerant products synchronized upward. Market operation presents three major features:
#01
Upstream raw material prices under pressure to decline 
Influenced by the overall production and sales contraction in the fluorine chemical industry, the basic raw material market is weak. The prices of fluorite powder (97% grade), hydrofluoric acid (anhydrous grade), methane chloride (dichloromethane-based) and PCE (trichloroethylene) and other major raw materials have fallen more than rising, and the prices of some of the products have touched the low level of nearly three years. According to the data of China Fluorine Chemical Industry Association, the average price of fluorspar powder in June declined by 12.3% year-on-year, and the price index of hydrofluoric acid dropped by 8.7% compared with the beginning of the year.
#02
Supply-side strategic regulation
Refrigerant production enterprises start load continues to differentiate characteristics, the head of the enterprise through flexible scheduling strategy to balance supply and demand. Currently the industry's average utilization rate is maintained at 68% -72% range, enterprises generally take “production by sales” mode, focusing on strengthening safety production control and implementation of dynamic inventory management.
#03
Structural divergence on the demand side
Air conditioning field: according to industry online data, January-June 2025 domestic air conditioning shipments increased by 8.2% year-on-year, continuing the restorative growth trend; but the export market is affected by the rise in international logistics costs, a year-on-year decline of 3.1%.
Automotive field: new energy vehicle substitution effect continues to appear, January-June new energy passenger car retail penetration rate of 41.7%, driven by the optimization of automotive refrigerant demand structure. Although the overall automobile production and sales growth slowed to 2.8%, but the export market maintained a higher growth rate of 15.3%.
Comprehensive analysis of supply and demand, the current refrigerant market presents “external tightness and internal stability” characteristics: the domestic market in the policy control and end demand support to remain stable, the overseas market by the supply chain adjustments tight supply. It is expected that in the short term, the market will continue to maintain a “stable, cautious” trend, and it is recommended that downstream customers pay attention to core species inventory management.
(Note: the data in the article from the network)
