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.
Triazoles
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.
Strobilurins
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.
Benzimidazoles
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.
Thiocarbamates
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.
Others
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.