For the Quarter Ending June 2025
North America
• The U.S. Fluorspar Price Index had fallen 2.1% in Q2 2025, underpinned by bearish sentiment worldwide and muted domestic downstream demand.
• The Fluorspar Spot Price had been between USD 450–475/MT FOB Gulf Coast, trending marginally lower month-on-month owing to an inventory overhang and poor consumption in the refrigerant and hydrofluoric acid (AHF) markets.
• The Q2 price decline had been influenced mainly by low demand from AHF and refrigerant producers, combined with high inventory levels and conservative procurement practices.
• The Fluorspar Production Cost Trend had been steady for the quarter, buoyed by flat sulfuric acid input prices. Nevertheless, U.S. dependence on imports—mainly from Mexico and South Africa—resulted in logistics costs continuing to be a major factor.
• Interior domestic fluorspar production had continued to be insignificant, with the U.S. still dependent upon imports. While port operations remained effective, inland trucking limitations and foreign exchange rates had affected cost of delivery.
• The Fluorspar Demand Outlook had weakened as blending activity within the refrigerant market and HVAC servicing needs reduced amidst softer weather and lower automotive maintenance activity.
• While long-term growth potential with regard to clean technology and semiconductors was still good, near-term fluorspar usage had remained poor, restraining any price recovery.
• The Fluorspar Price Forecast for Q3 2025 had pointed to range-bound movement, with minor upside expected only if the AHF and refrigerant sectors recovered after the summer.
Asia-Pacific
• The Fluorspar Price Index in Japan had fallen by 2% in Q2 2025, continuing the downward trend observed since May.
• The Fluorspar Spot Price had been assessed at USD 460–490/MT CFR Tokyo, reflecting weakening demand from refrigerant manufacturers and the semiconductor sector.
• The price decline in Q2 had resulted from muted procurement activity, elevated inventories, and pressure on producer margins in the electronics and refrigerant industries.
• The Fluorspar Production Cost Trend had been adversely affected by the depreciation of the Japanese yen, which had inflated import costs despite global feedstock price relief.
• Japan had remained entirely reliant on imports from China, Mongolia, and South Africa. Spot transactions had been limited, with buyers maintaining a strong focus on cost control.
• The Fluorspar Demand Outlook had remained muted, especially across refrigerants, semiconductors, and fluorochemical production.
• Although growth sectors such as battery materials and hydrogen electrolysis offered long-term demand potential, the current offtake volumes had remained insufficient to support prices.
• The Fluorspar Price Forecast for Q3 2025 had indicated a continuation of the soft price trend unless refrigerant exports recovered or tech-sector demand improved notably.
Europe
• The Fluorspar Price Index in Europe had declined slightly in Q2 2025, influenced by sluggish demand and broader macroeconomic uncertainty.
• The Q2 price reduction had been attributed to low downstream demand in AHF and fluoropolymer sectors, along with persistent inventory buildup.
• The Fluorspar Production Cost Trend had remained steady, underpinned by stable sulfuric acid costs and improved energy management in regional processing units.
• Domestic supply had remained adequate through continued imports from South Africa and China, which had helped maintain inventory balance.
• The Fluorspar Demand Outlook across France, Belgium, and Germany had remained subdued, as the construction and industrial cooling sectors failed to rebound significantly.
• Most refrigerant and chemical manufacturers had adopted short-cycle procurement strategies, refraining from speculative buying due to uncertain downstream demand.
• The Fluorspar Price Forecast for Q3 2025 had indicated a slight downward bias, barring any resurgence in regional auto output or temperature-driven cooling demand.
Middle East & Africa (MEA)
• The Fluorspar Price Index in MEA, particularly South Africa, had declined moderately in Q2 2025, reflecting persistent weakness in international demand and limited downstream activity.
• The Fluorspar Spot Price had ranged between USD 390–415/MT FOB Durban, pressured by reduced exports to key markets such as China, Europe, and Japan.
• The Q2 price drop had been driven by subdued offtake in hydrofluoric acid (AHF) and refrigerant sectors, along with global oversupply and soft procurement sentiment from major buyers.
• The Fluorspar Production Cost Trend had remained mixed—while stable sulfuric acid input prices supported margins, rising inland transport costs and port congestion had constrained export efficiency.
• South Africa’s domestic production had remained steady at key mining hubs in Limpopo and Northwest provinces, though logistics bottlenecks and poor port throughput had limited outbound volumes.
• The Fluorspar Demand Outlook within MEA had stayed weak, as internal consumption remained minimal and exports faced headwinds from trade friction and inventory overhang in destination markets.
• Exporters had shifted to short-term contracts and reduced spot offerings amid profitability concerns and macroeconomic volatility in key buyer regions.
• The Fluorspar Price Forecast for Q3 2025 had suggested continued pressure unless international refrigerant demand recovered or port logistics improved significantly.
For the Quarter Ending March 2025
North America
In Q1 2025, fluorspar prices in the U.S. market moved northwards, experiencing minor fluctuations driven by shifts in demand and supply dynamics. In January, prices remained stagnant despite steady demand expectations, as the broader global market slowed down. Stable raw material costs, such as hexafluoropropylene and sulfuric acid, helped ease production costs.
In February, fluorspar prices decreased by 0.7% to USD 450/MT due to reduced demand from key sectors like hydrofluoric acid production and slower industrial activity in aluminum and steel manufacturing. A surplus in material supply from Mexico balanced the slowdown in domestic production. By March, prices showed slight upward momentum as signs of a recovery emerged in manufacturing and industrial activity, with steady raw material availability helping stabilize the market.
Despite ongoing challenges in the fluorspar industry, particularly the tight upstream mining supply and slow exploration of new deposits, the market outlook began to improve, supported by stable raw material costs and expectations of a gradual recovery in demand. The U.S. fluorspar market is poised for cautious growth moving forward.
APAC
In Q1 2025, fluorspar prices in Japan showed a consistent upward trend, driven by steady demand from key sectors such as hydrofluoric acid (HF) and coatings, alongside strong growth in energy storage and electric vehicle industries. Early in January, prices began to rise due to stable demand expectations, despite the typical post-festive season slowdown. The trend continued into February and March, with prices increasing by 2% and 0.9%, respectively, fueled by higher raw material costs like sulfuric acid and steady demand from downstream industries. Despite the challenges in the fluorspar industry, such as constrained supply due to the closure of outdated mining facilities and slow exploration of new deposits, fluorspar producers demonstrated resilience with improved operational rates. Additionally, reduced fluorspar exports from China, especially acidspar, further tightened supply dynamics in Japan. The demand for high-grade metallurgical spar used in electric vehicle batteries, along with robust demand for acid-grade fluorspar in HF production, continued to support price increases. The overall outlook for fluorspar in Japan remains positive, underpinned by rising demand from critical sectors.
Europe
In Q1 2025, fluorspar prices in the European market remained relatively stable, with slight fluctuations influenced by supply-demand dynamics and raw material costs. In January, fluorspar prices were steady, supported by consistent demand from key sectors such as hydrofluoric acid (HF) production and coatings, despite a typical post-holiday market slowdown. Supply remained tight due to constrained mining operations, and the closure of older mines in some regions added pressure. Prices continued to show minimal change in February as demand from the steel and aluminum industries softened, leading to a slight decrease in consumption. However, stable raw material prices, including sulfuric acid, helped alleviate production cost pressures, maintaining price stability. By March, fluorspar prices showed a modest upward trend, driven by improved industrial activity and steady demand from downstream sectors, particularly the HF and coatings industries. Supply remained constrained, with European producers facing challenges in securing sufficient quantities from mining operations. Overall, fluorspar prices in Europe remained stable with a slight upward bias, supported by consistent demand and stable raw material costs, although supply constraints persisted.
MEA
In Q1 2025, fluorspar prices in the MEA region declined along with the subdued global market and mixed demand conditions. In January, fluorspar prices held steady, supported by consistent raw material costs, such as hexafluoropropylene, sulfuric acid, and fluorite. However, the region's fluorspar industry faced challenges from tight upstream supply, with older mines being phased out and the exploration of new deposits proving difficult. This stability in mining operations, coupled with a steady supply of raw materials, helped producers maintain consistent operational levels. February saw a slight decline in prices, particularly in South Africa, where fluorspar prices dropped by 0.7% to USD 460/MT, driven by lower demand from downstream sectors like steel and aluminum production. This trend continued into March, with market sentiment remaining cautious due to softening demand in key industries and ongoing global uncertainties. Despite the reduced demand, analysts expect prices to stay stable, supported by controlled production levels and consistent raw material costs, with industry stakeholders awaiting signs of recovery in the coming months.
For the Quarter Ending December 2024
North America
In Q4 2024, Fluorspar prices showcased mixed market dynamics impacting in the North American market. The demand for Fluorspar remained robust due to its critical role in the production of AHF, which is essential for manufacturing fluoropolymers, refrigerants, and specialty chemicals. The cost of key raw materials, such as sulfuric acid and hexafluoropropylene, remained stable, preventing significant price fluctuations for Fluorspar.
Despite some challenges faced by the domestic fluorspar industry, such as limited upstream mining supply and regulatory hurdles, U.S. Fluorspar producers managed to maintain steady operations, with production rates remaining relatively stable. The stability in mining operations and consistent demand from AHF and coatings activities helped to stabilize Fluorspar prices. Additionally, the ongoing phased-out production from outdated mines, coupled with the difficulty in exploring new mineral deposits, further constrained supply, but the overall market remained steady.
While there were some shipping challenges due to potential labor disruptions and rising tariffs, these had minimal impact on the domestic market’s price stability, with most prices remaining unchanged throughout the quarter.
APAC
In Q4 2024, the Fluorspar market in the APAC region showed stability, with prices experiencing modest increases, driven by steady demand from key industries such as aluminum production, refrigerants, and anhydrous hydrofluoric acid (AHF) production. The cost of sulfuric acid, a key feedstock in Fluorspar extraction, remained relatively stable in October, easing potential cost pressures on Fluorspar production. Despite earlier price fluctuations in sulfuric acid, their overall impact on Fluorspar prices was minimal.
Market participants remained optimistic, especially with the continued strong demand for AHF, which is crucial for producing fluoropolymers and specialty chemicals, propelling Fluorspar consumption in the region. However, the market faced some logistical challenges, particularly in Southeast Asia, where disruptions at major ports due to seasonal factors and typhoon threats contributed to supply chain difficulties.
Despite these disruptions, demand for Fluorspar remained robust, with growing consumption driven by its role in the manufacturing of fluoropolymers used in sectors like construction and automotive. Analysts expect Fluorspar prices to stay supported by stable raw material costs and controlled production levels, alongside a steady demand outlook from AHF production facilities. While energy price fluctuations and geopolitical tensions in Europe and the rest of the world could influence global Fluorspar dynamics, the outlook for the APAC region remains positive heading into Q4 2024.
Europe
In Q4 2024, the European Fluorspar market experienced bullish behavior, with prices holding steady due to balanced supply and demand dynamics. The demand for Fluorspars remained strong, particularly from wastewater treatment, paper, and textile industries, as tightening environmental regulations and an increasing focus on sustainability continued to drive growth in these sectors.
The water treatment sector saw heightened demand due to industrial activity and seasonal factors like the winter months, which boosted the need for effective water management solutions. The drop in crude oil prices offered relief to production costs, contributing to price stability in the region. The supply chain remained tighter amidst the congestion and the strike throughout the quarter impacting the supply flow.
Despite these positive conditions, the European market faced challenges due to the broader economic slowdown, particularly in the petrochemical sector, which dampened growth prospects. Nonetheless, the ongoing demand for water treatment solutions and sustainability-focused industrial practices helped maintain a stable Fluorspar market across Europe throughout the quarter.
MEA
In Q4 2024, the Fluorspar market in MEA region demonstrated a generally stable performance, with prices experiencing slight increases in October and November before facing a decline in December. Throughout the quarter, stable raw material costs, particularly sulfuric acid and hexafluoropropylene, helped maintain price stability.
The demand for Fluorspar remained strong, primarily driven by key industries such as aluminum production, refrigerants, and the manufacturing of anhydrous hydrofluoric acid (AHF), which provided consistent support to the market. In November, demand from AHF production facilities continued to bolster confidence in the market, contributing to a more optimistic outlook.
However, the MEA region saw a slowdown in December, influenced by the global dip in industrial activity during the festive season. While domestic production remained steady, challenges in upstream mining and logistics, including port disruptions and shipping concerns, impacted the overall market. Despite these challenges, the Fluorspar market in the MEA region ended the quarter on a stable note, with a positive demand outlook for the coming months into 2025.
For the Quarter Ending September 2024
North America
In Q3 2024, the Fluorspar market in North America witnessed a downturn, with prices experiencing a notable decrease of 2%. This decline was primarily influenced by a combination of factors such as weakened demand from key downstream sectors, including refrigerant and battery manufacturing, leading to an oversupply situation.
Additionally, manufacturers in exporting countries faced higher production costs due to rising fluorite prices upstream, further impacting market dynamics. The seasonality factor also played a role, with the monsoon season traditionally affecting demand negatively. The overall supply chain had been functioning at a somewhat slower pace. Mexico remained the U.S.'s top trading partner, though Mexican carriers encountered challenges like capacity limitations and a driver shortage.
To mitigate potential disruptions, logistics teams had to be ready for changes in cross-border transportation programs. Truck freight across North America had steadily increased over the past three years, with only two slight decreases during that time. During the quarter, no major disruptions or plant shutdowns were reported, contributing to the stable supply situation. This, combined with the aforementioned factors, led to a challenging pricing environment characterized by decreasing prices and moderate demand levels.
APAC
In Q3 2024, the APAC region experienced a downturn in Fluorspar prices, with Japan being the most impacted by significant price changes. The market witnessed a negative trend, influenced by various factors such as reduced demand from downstream industries like construction and refrigerants, leading to weakened market fundamentals. Adverse weather conditions in key production areas, disruptions in logistics activities, and operational challenges further contributed to the price decline. The quarter recorded a notable -2% decrease from the previous quarter, reflecting the challenging market conditions. Asian ports had been bracing for Super Typhoon Yagi, one of the most powerful storms of the past decade, which had impacted the container flow. The storm brought strong winds, heavy rain, and coastal flooding. Additionally, adverse weather in southern areas, including high temperatures and heavy rainfall, had further complicated fluorite mining activities. Consequently, raw material shortages had limited the operational capacity of fluorite enterprises, maintaining tight supply despite some downward pressure on prices. In the hydrogen fluoride sector, many production facilities had remained shut down, waiting for improved market conditions to resume operations.
Europe
In Q3 2024, the Europe region saw a notable decline in Fluorspar prices, driven by several contributing factors. Supply limitations, caused by challenges in the global freight industry and port congestion, were inclusive of the impacting factors. Additionally, the eurozone's manufacturing sector showed signs of weakness, leading manufacturers to limit discounts and adjust output charges, which contributed to the overall bullish market sentiment. Seasonal trends and market dynamics played a key role in shaping the price trajectory, with a 2% price variation between the first and second halves of the quarter. Seasonal factors resulted in reduced consumption, while an oversupply—driven by improved production efficiency and capacity expansions—put further downward pressure on prices. High inventory levels and increased exports from the region also amplified the price decline. Despite the EU's efforts to achieve climate neutrality, progress in reducing greenhouse gas emissions from the transport sector has been slow. The strike by port workers at Bremerhaven and the Port of Hamburg had disrupted operations for several days due to a dispute between workers' unions and the Central Association of German Seaport Operators (ZDS) over collective wage bargaining negotiations. As these negotiations entered their third round, there had been the potential for further industrial action by port workers to press for their demands, which could have impacted the fluorspar supply chain.
MEA
The third quarter of 2024 for Fluorspar pricing in the MEA region has been challenging, with prices experiencing a consistent decline. Several factors have influenced this downward trend, including subdued demand from the construction sector, increased supply-side pressures, and weakened sales both domestically and internationally. Despite moderate supply levels, operational disruptions, and longer lead times contributed to the overall negative sentiment in the market. South Africa, in particular, witnessed the most significant price changes, with prices dropping by 2% from the previous quarter. Overall, the pricing environment has been unfavorable, with prices consistently decreasing throughout the quarter, highlighting a challenging period for Fluorspar in the region. Plant shutdowns during the quarter added further strain to an already struggling market. The steady influx of new orders in the domestic construction industry had resulted in a decline in Fluorspar's sales volumes. Despite this, demand for Anhydrous Hydrofluoric Acid had remained weak, according to market participants. Meanwhile, inquiries from European countries had been muted, as ongoing inflationary pressures continued to impact their purchasing.
FAQs
1. What was the Fluorspar Spot Price as of Q2 2025?
o U.S.: USD 450–475/MT FOB Gulf Coast
o Japan: USD 460–490/MT CFR Tokyo
2. Who were the top Fluorspar producers supplying the United States in 2025?
o The U.S. had negligible production. Key suppliers included Mexican miners like Mexichem, South African exporters such as SepFluor, and Vietnam’s Masan Resources.
3. What was the Fluorspar Price Forecast for Q3 2025?
o Prices were expected to remain soft across North America, Asia-Pacific, and Europe, with a potential rebound contingent on refrigerant and electronics sector recovery.
4. What factors influenced the Fluorspar Production Cost Trend globally in Q2 2025?
o The key drivers included sulfuric acid prices, ocean freight rates, energy tariffs, foreign exchange trends, and regional port logistics and trucking costs.
