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.
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.
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.