The price fluctuations in 2019 are not big and the market has no more big fluctuations. After the Spring Festival in 2020, downstream demand is weak, and prices are currently volatile.

From the perspective of raw materials, since mid-October last year, the coal tar market has shown a downward trend, and prices have reached a low for the year. There was a slight increase at the end of November, but the increase was not large. As of the end of November, prices were still lower than at the end of last month. In the later period, although the coal tar market is tight at this stage, because the downstream carbon black and coal tar (1882, 26.00, 1.40%) are difficult to change the weak situation, it is expected that the coal tar price increase in December will be limited, which will support the price of the carbon black market insufficient.

From the perspective of demand, the starting of tires in December last year was mainly stable. So far this year, the operating rate of tire factories has dropped to about 50%, new orders are limited, and the demand for carbon black is still weak.

Carbon black downturn has not improved at all