Overall Market Observation

Last week, the domestic pesticide market maintained an overall sluggish trend, with continued weak downstream procurement demand, light market trading, and a further decline in transaction volume. In terms of price performance, the market showed clear differentiation: prices of mainstream bulk varieties basically stabilized, with fluctuation amplitudes generally controlled within ±2%; some conventional products, due to the recovery of upstream supply and increased enterprise operating rates, had ample market supply and continued a downward price trend, with weekly declines reaching 3-5%. However, supply-constrained varieties like Clethodim saw mainstream manufacturers raise quotations by about 3% due to tight spot availability caused by centralized maintenance by production enterprises, becoming a rare highlight in the current market. From an industry perspective, the pesticide market has entered a stage of full competition, with significantly improved price transparency, continuously narrowing regional price differences, and intensified homogenous competition further compressing enterprise profit margins.

Herbicides

The herbicide market remained generally stable, with steady price trends and price fluctuations in only a few products:

• 90% Clethodim: Increased by 30,000 Yuan, to 120,000 Yuan/ton.
• 95% Quinclorac: Decreased by 5,000 Yuan, to 170,000 Yuan/ton.

Insecticides

Prices for several insecticide products decreased, with stable supply:

• 97% Thiamethoxam: Decreased by 2,000 Yuan, to 68,000 Yuan/ton.
• 97% Chlorfenapyr: Decreased by 2,000 Yuan, to 138,000 Yuan/ton.
• 96% Etoxazole: Decreased by 3,000 Yuan, to 165,000 Yuan/ton.
• 95% Malathion: Decreased by 1,000 Yuan, to 29,000 Yuan/ton.
• 90% Malathion: Decreased by 1,000 Yuan, to 28,000 Yuan/ton.
• 97% Lufenuron: Decreased by 3,000 Yuan, to 130,000 Yuan/ton.

Fungicides

Prices for several fungicide products decreased, with stable supply:

• 97% Tebuconazole: Decreased by 1,000 Yuan, to 50,000 Yuan/ton.
• 96% Prochloraz: Decreased by 2,000 Yuan, to 50,000 Yuan/ton.
• 97% Pyraclostrobin: Decreased by 2,000 Yuan, to 156,000 Yuan/ton.
• 96% Kresoxim-methyl: Decreased by 5,000 Yuan, to 240,000 Yuan/ton.
• 95% Trifloxystrobin: Decreased by 5,000 Yuan, to 195,000 Yuan/ton.
• 95% Boscalid: Decreased by 10,000 Yuan, to 330,000 Yuan/ton.
• 98% Fludioxonil: Decreased by 10,000 Yuan, to 510,000 Yuan/ton.

Market Summary and Outlook

Last week, the pesticide market continued its sluggish trend. Demand-side performance was weak, downstream purchasing willingness was insufficient, overall trading was light, and transaction volume continued to shrink. Price trends showed a differentiated pattern: prices of bulk products generally stabilized with limited fluctuations; some conventional varieties faced downward price pressure due to supply recovery, while supply-tight products like Clethodim saw counter-trend price increases. The current market has entered a stage of full competition, with high price transparency and severe homogenization, compounded by the impact of environmental policies, continuously compressing industry profit margins.

Market Forecast

In the short term, the traditional off-season叠加 high inventory pressure may cause the market to continue its weak operation. It is recommended to focus on the following variables: first, the transmission of raw material price fluctuations to the cost side, and second, changes in the operating rates of mainstream enterprises and their impact on the supply pattern. In the medium to long term, accelerated industry consolidation may become a trend, and leading enterprises with technological advantages, environmental compliance, and complete industrial chains are expected to gain a more favorable position in the competition. Enterprises are advised to strengthen inventory management, flexibly adjust production and sales strategies, and at the same time, pay attention to market opportunities for differentiated products.