Pesticide Daily Review: Wait-and-See Sentiment, Market Holds Stable

The pesticide market overall showed weak sentiment. Downstream demand mainly followed rigid needs, market drivers were insufficient, and the cost-push logic slowed as geopolitical tensions cooled. Some products still have support from rising costs, but due to transmission issues along the industrial chain, high prices continue to trigger negative feedback downstream. The market is temporarily watching whether terminal demand can further absorb supply. In the international market, the Middle East geopolitical situation shows signs of cooling, and expectations for Strait of Hormuz navigation have warmed. However, shipping costs and damage to petrochemical supply chains remain irreversible in the short term, so bottom support may still exist. Overall, cautious sentiment continues in the current market. Price increases in some upstream products continue to face obstacles in transmission downstream, upward drivers have slowed, and wait-and-see sentiment remains evident. Follow-up attention should focus on geopolitical sentiment changes, export momentum, and seasonal demand.

Market Analysis

Herbicides: The herbicide market is currently operating weakly overall, with limited demand follow-up. Cost increases brought by geopolitical risks still exist, but insufficient demand absorption makes it difficult to provide momentum. The United States invoked the Defense Production Act to classify elemental phosphorus and glyphosate herbicides as defense-critical materials and require priority domestic supply, which still supports the domestic market. In addition, Bayer withdrew its application for an anti-dumping and countervailing investigation against Chinese glyphosate, easing sentiment pressure, though actual demand still needs to be watched. Overall, downstream users mainly purchase based on rigid demand. Short-term demand support remains weak and continues to fall back. Follow-up attention should focus on whether exports improve and changes in geopolitical sentiment.

Yellow phosphorus: Today, the yellow phosphorus market atmosphere was generally stable. After recent supply-side disturbances, market sentiment improved, and with upstream enterprise inventories generally limited, price-support conditions still exist. However, after earlier downstream restocking, further buying strength has weakened, slowing the high-price-driven momentum. In the short term, tight supply supports positive market sentiment. Upstream enterprises are shipping relatively smoothly, market sentiment is relatively stable, and downstream buyers are temporarily purchasing as needed while watching the strength of this round of recovery.

Pesticide Market Price List

Herbicides:

98% 2,4-D fell 1000 yuan to 14000 yuan/tonne. 40% diquat mother liquor fell 1000 yuan to 17000 yuan/tonne. 96% clodinafop-propargyl fell 5000 yuan to 160000 yuan/tonne. 96% bispyribac-sodium fell 5000 yuan to 205000 yuan/tonne. 97% haloxyfop-P-methyl fell 5000 yuan to 118000 yuan/tonne. 95% quinclorac fell 5000 yuan to 150000 yuan/tonne.

Insecticides:

70% emamectin benzoate fell 10000 yuan to 550000 yuan/tonne. 95% (9:1) indoxacarb fell 10000 yuan to 400000 yuan/tonne. 97% lufenuron fell 3000 yuan to 115000 yuan/tonne.

Fungicides:

96% difenoconazole fell 2000 yuan to 78000 yuan/tonne. 95% flusilazole fell 10000 yuan to 290000 yuan/tonne. 98% azoxystrobin fell 3000 yuan to 125000 yuan/tonne. 97% hymexazol fell 3000 yuan to 72000 yuan/tonne.