Jan. sees most fungicide TC prices drop and weak market persist

Publish time: 2nd February, 2024      Source: CCM
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    Summary: In Jan., the fungicide market sustained weak trend: the ex-works prices of most fungicide TC declined while a few grew due to a tight supply, down by 1.08% MoM or 19.69% YoY on average.   


    In Jan., the fungicide market remained weak, with most TC prices dipping while a few rising for a tight supply, down by 1.08% MoM or 19.69% YoY on average. At present, while part producers limit their production, the production capacity is ample for the supply due to overall soft downstream demand. In the short term, fungicide TC prices are likely to decrease slightly amid a generally stable trend.   






    On the whole, triazole fungicide TC products were weak in demand; the raw material triazole, though operated at low rates, was able to satisfy the TC supply with stocks. In addition to tricyclazole TC, whose price rose a bit in Jan., triazole fungicide TC represented stable or decreased prices MoM, with an average price dropping 1.49% MoM or 22.52% YoY. To be specific, difenoconazole TC and propiconazole TC marked significant MoM declines in ex-works price, as a result of diminishing raw material prices that failed in holding up the cost, as well as weak downstream demand and ample supply; epoxiconazole TC, hexaconazole TC and triadimefon TC were priced down slightly MoM, in which hexaconazole TC experienced weak market trend and tepid demand; and flusilazole TC, myclobutanil TC and tebuconazole TC saw flat prices MoM.   




    As for main producers, Jiangsu Yangnong Chemical Co., Ltd. (Jiangsu Yangnong), Limin Chemical Co., Ltd. (Limin Chemical), Zhejiang Heben Pesticide & Chemicals Co., Ltd., Hangzhou Udragon Chemical Co., Ltd. and Shandong Dongtai Agrochemical Co., Ltd. remained sound operation of difenoconazole TC; Jiangsu Sevencontinent Green Chemical Co., Ltd. maintained stable supply of epoxiconazole, hexaconazole, propiconazole and tebuconazole TCs, and Jiangsu Changqing Agrochemical Co., Ltd. of epoxiconazole TC; Jiangsu Yangnong and Shandong Weifang Shuangxing Pesticide Co., Ltd. retained normal production of propiconazole TC, and Jiangsu Huanghai Pesticide & Chemical Industry Co., Ltd. and Jiangsu Sword Agrochemicals Co., Ltd. of tebuconazole TC.   






    The ex-works price of azoxystrobin TC fell 2.57% MoM, mainly resulting from weak demand, and raw material costs failed to buoy the price albeit with low operating rates; the ex-works prices of kresoxim-methyl TC and trifloxystrobin TC ticked up MoM on short supply triggered by limited production by producers. Regarding major producers, Shanghai Heben-Eastsun Medicaments Co., Ltd., Inner Mongolia Miraculous Crop Science Co., Ltd. and Guangdong Liwei Chemical Co., Ltd. retained normal operation of azoxystrobin TC; Jingbo Agrochemicals Technology Co., Ltd. maintained normal supply of kresoxim-methyl TC under equipment overhauls.   






    With feeble demand and sufficient supply, carbendazim TC (white colour) showed downward price MoM; the price of thiophanate-methyl TC (white colour) flatlined from last month amid a supply-demand balance. With regard to main suppliers, Zhejiang Wynca Chemical Industrial Group Co., Ltd. maintained sound operation of both, and Anhui Guangxin Agrochemical Co., Ltd. kept normal supply of thiophanate-methyl TC.   






    Stable in supply and demand, propineb TC saw the ex-works price levelled with that in Dec. 2023. Due to sluggish demand in downstream, the ex-works prices of thiram TC and mancozeb TC slipped 1.33% and 2.36% MoM, respectively. In terms of main producers, Limin Chemical, Hebei Shuangji Chemical Co., Ltd. and Xi'an MTI Co., Ltd. retained a normal supply, and Nantong Baoye Chemical Co., Ltd. was under device maintenance.   






    A bulk of the other fungicide TC products kept the ex-works price downtrend month on month, resulting from weak demand and adequate supply. Moreover, producers may further cut the price for sales in order to destock as the end of China's lunar year approaches. In addition, hymexazol TC price went up due to tight spot goods, and prices of metalaxyl TC and propamocarb TC levelled from last month on balanced supply and demand.   

  Table Ex-works prices of most fungicide TC in China, Jan. 2024
            Type                        Product                        Ex-works price, RMB/t                        Ex-works price, USD/t                        MoM change                        YoY Change           
            Triazole fungicide                        95% Difenoconazole technical                        102,140                        14,433                        -4.24%                        -38.10%           
            97% Epoxiconazole technical                        373,000                        52,706                        -2.86%                        -13.26%           
            95% Flusilazole technical                        362,000                        51,152                        0.00%                        -11.71%           
            95% Hexaconazole technical                        95,300                        13,466                        -1.55%                        -24.48%           
            97% Myclobutanil technical                        143,000                        20,206                        0.00%                        -1.38%           
            95% Propiconazole technical                        85,400                        12,067                        -3.50%                        -51.48%           
            97% Tebuconazole technical                        45,380                        6,412                        0.00%                        -30.45%           
            95% Tricyclazole technical                        60,000                        8,478                        0.70%                        -4.00%           
            95% Triadimefon technical                        56,100                        7,927                        -1.92%                        -27.85%           
            Strobilurin fungicide                        96% Azoxystrobin technical                        154,520                        21,834                        -2.57%                        -42.77%           
            95% Kresoxim-methyl technical                        283,000                        39,989                        2.54%                        -17.37%           
            96% Trifloxystrobin technical                        345,000                        48,749                        1.47%                        -16.87%           
            Benzimidazole fungicide                        98% Carbendazim technical (white colour)                        35,800                        5,059                        -2.13%                        -14.86%           
            96% Thiophanate-methyl technical (white colour)                        38,700                        5,468                        0.00%                        -10.00%           
            Thiocarbamate fungicide                        90% Mancozeb technical                        23,140                        3,270                        -2.36%                        -8.90%           
            85% Propineb technical                        35,000                        4,946                        0.00%                        0.00%           
            97% Thiram technical                        11,840                        1,673                        -1.33%                        -32.34%           
            Substituted benzene fungicide                        98% Chlorothalonil technical                        17,300                        2,445                        -0.57%                        -16.43%           
            Carboxylic acid amide fungicide                        98% Cymoxanil technical                        67,900                        9,594                        -2.44%                        -28.53%           
            Morpholine fungicide                        98% Dimethomorph technical                        57,200                        8,083                        -1.72%                        -31.90%           
            Dicarboximide Fungicide                        95% Iprodione technical                        179,200                        25,321                        -1.27%                        -17.13%           
            Dithiolane fungicide                        97% Isoprothiolane technical                        30,400                        4,296                        -7.88%                        -25.85%           
            Phenylamide fungicide                        98% Metalaxyl technical                        92,000                        13,000                        -1.08%                        -12.38%           
            Organophosphorus fungicide                        97% Phosethyl Al technical                        25,000                        3,533                        0.00%                        -5.66%           
            Imidazole fungicide                        97% Prochloraz technical                        48,000                        6,783                        -1.03%                        -20.00%           
            Isoxazole fungicide                        97% Hymexazol technical                        92,000                        13,000                        4.50%                        -26.40%           
            Carbamate fungicide                        98% Propamocarb technical                        61,000                        8,619                        0.00%                        -1.61%           
Source: CCM




  More information can be found at CCM Fungicide China Monthly Reoprt.


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