Market Summary

Last week,the domestic market for pesticide technicals continued its weak consolidation trend.The release of enduser demand was sluggish,and purchasing intent from downstream channels was generally weak,resulting in limited overall trading activity as most market participants adopted a wait-andsee attitude.Against this backdrop,the internal market divergence became more pronounced:a few products found price support due to supply-side contractions,while the majority continued their downward trend under the pressure of a supply-demand imbalance.

Analysis of Upward-Trending Products

Driven by supply-side factors,including the effective digestion of previous inventories and low operating rates at manufacturing plants,a shortage of available goods in the market led to a counter-trend price increase for a few products.

Oxyfluorfen (96%): The supply shortage intensified, Oxyfluorfen rose by $1,401, from $17,514 per ton to $18,915 per ton.

Chlorfenapyr (97%): Facing a persistently tight market supply, the price rose by $280, from $18,635 per ton to $18,915 per ton.

Tebuconazole (97%): The price showed signs of stabilizing and rebounding, the price rose by $70, from $7,146 per ton to $7,216 per ton.

Analysis of Downward-Trending Products

In contrast,the majority of products continued on a downward trajectory.This was due to ample market supply,ongoing issues with overcapacity,and sluggish enduser demand,which left prices without upward momentum.

Herbicides:

Cyhalofop-butyl (97%): dropped by $280 to $15,132 per ton.

Metolachlor (96%): Decreased by $140 to $3,363 per ton.

Insecticides:

Chlorantraniliprole (96%): Remained under pressure with a significant drop of $701 to $33,627 per ton.

Chlorpyrifos (97%): Saw a minor adjustment downward by $71 to $5,534 per ton.

Fungicides:

Boscalid (95%): Experienced the most significant decline, falling by $1,401 to $42,034 per ton.

Cyproconazole (95%): Dropped by $420 to $21,718 per ton.

Thifluzamide (96%): Decreased by $280 to $31,245 per ton.

Difenoconazole (96%): Fell by $140 to $12,190 per ton.

Carbendazim (97%): Dropped by $140 to $4,904 per ton.

Market Outlook

Looking ahead,with no significant signs of marginal improvement in either domestic or international demand,the market as a whole lacks a strong driver for a reversal.

Overall Trend:Prices for mainstream pesticide technicals are expected to enter a sideways trading channel.Most products will likely remain stable with limited volatility.

Structural Divergence:Market polarization is expected to remain the dominant theme.For oversupplied products,there remains a risk of further slight price declines in the absence of a substantial demand boost,though the potential for a deeper drop appears limited.

Supply-Driven Resilience:Conversely,for the few products where supply-side factors dominate,prices have shown considerable resilience.If manufacturers' operating rates remain lowthere is a possibility of further price stabilization and rebound,supported by production costs.

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