Carbon black prices first fell and then rose in January

According to data, the price of carbon black fell first and then rose this month, with an upward trend in the last week. As of now, the domestic N220 carbon black market price is at 9400 yuan/ton.

In terms of raw materials, the price of coal tar in the market has fluctuated this month. As of the 30th, the price of coal tar was 4100 yuan/ton, a decrease of nearly 150 yuan/ton from January 1st, and the decline has narrowed compared to mid month. The price of coal tar in the market has risen back to over 4000 yuan, providing strong support for the cost of carbon black. In the first half of the month, the downstream deep processing and carbon black market had a relatively negative reception sentiment in the early stage, and there was significant pressure on on-site inventory. We spared no effort to suppress the price of coal tar in the market, resulting in a significant decline in coal tar prices. In the second half of the month, the market price of coal tar continued to rise. Currently, the profitability of deep processing enterprises is relatively good, and downstream enterprises have a high enthusiasm for entering the market for inquiries. There are more favorable factors in the market, and the price of coal tar market has significantly increased. The current market situation for high-temperature coal tar is improving, and it is expected to operate stronger in the future, which still provides support for the cost of carbon black.

Starting situation: Based on the previous period, the operating rate of most carbon black enterprises has not changed much, and some enterprises have delivered orders at the end of the year, showing a narrow fluctuation overall.

In terms of terminals: The overall shipment of downstream tire industry is average, still in a seasonal off-season, with a relatively cold trading atmosphere. There is a serious accumulation of inventory on site, and some downstream tire companies have made early holiday arrangements, which limits their production. The market demand is becoming increasingly cold, and the demand for raw material carbon black is flat. The sales pressure in the current tire market is not decreasing, and some companies have launched large-scale promotional policies, mainly focusing on digesting inventory.

Import and export situation: According to customs data, China imported 24000 tons of carbon black in December 2023, an increase of 16.37% year-on-year and 6.47% month on month; From January to December 2023, China imported a total of 274000 tons of carbon black, an increase of 163.55% compared to the same period last year, with imports increasing by approximately 170000 tons. According to customs data, China's carbon black exports in December 2023 were approximately 75300 tons, an increase of 43.03% year-on-year and 20.06% month on month. From January to December 2023, China's cumulative exports of carbon black reached 727000 tons, a decrease of 9.98% compared to the same period last year, and the export volume decreased by approximately 80600 tons.

In the future, the high-temperature coal tar market has improved, providing stronger support for the cost of carbon black; The downstream tire industry is still in a seasonal off-season, and the overall trading atmosphere is relatively cold. Early holiday arrangements have led to slightly flat demand for raw material carbon black, and it is expected that the carbon black market will operate steadily, moderately, and strongly in the short term