For the Quarter Ending December 2025
North America
• In USA, the Fluorspar Price Index rose by 7.84% quarter-over-quarter, supported by tighter import arrivals.
• The average Fluorspar price for the quarter was approximately USD 518.33/MT, based on CFR Houston.
• Fluorspar Spot Price softened in quarter as inventories accumulated and prompt cargoes faced delayed arrivals.
• Fluorspar Price Forecast shows modest volatility as seasonal demand recovery competes with rising inbound shipments.
• Fluorspar Production Cost Trend stable due to low freight and minimal domestic energy cost pressure.
• Fluorspar Demand Outlook stays positive as hydrofluoric acid and aluminum demand benefits EV battery growth.
• Fluorspar Price Index strength reflected higher offers from Mexican and Chinese exporters during year-end shipments.
• Inventory accumulation at Gulf terminals pressured spot liquidity while buying prompted premium payments by converters.
Why did the price of Fluorspar change in December 2025 in North America?
• Reduced Mexican and Chinese arrivals tightened prompt availability, directly lifting import parity and spot premiums.
• Buyers rebuilt Gulf inventories ahead of first-quarter HF production, increasing procurement and supplier negotiation power.
• Freight cost declines offset higher FOB offers, leaving landed costs elevated and sustaining price momentum.
APAC
• In Japan, the Fluorspar Price Index rose by 7.25% quarter-over-quarter, reflecting stronger import demand and tight prompt availability.
• The average Fluorspar price for the quarter was approximately USD 542.33/MT, weighted on CFR Osaka
• Fluorspar Spot Price eased amid year-end destocking and steady inbound cargoes, pressuring transactional assessments further
• Fluorspar Price Forecast indicates recovery early 2026 as hydrofluoric acid demand and seasonal buying resume
• Fluorspar Production Cost Trend showed upward pressure from stable freight and elevated LNG-linked energy tariffs
• Fluorspar Demand Outlook remains steady with stronger fluorochemicals and battery-related pulls supporting base consumption levels
• Fluorspar Price Index exhibits bearish bias due to accumulating port inventories and subdued restocking demand
• Export availability from China and Mongolia kept supply comfortable, limiting sellers to sustain higher offers
Why did the price of Fluorspar change in December 2025 in APAC?
• Comfortable seaborne inflows and port stocking reduced spot urgency, pressuring transactional levels downward in December
• Year-end destocking by hydrofluoric acid converters lowered demand, while contracted volumes limited immediate restocking further
• Stable freight and weaker yen offset landed cost gains, keeping importer procurement cautious through December
MEA
• In South Africa, the Fluorspar Price Index fell by 0.93% quarter-over-quarter, reflecting inventory accumulation slightly.
• The average Fluorspar price for the quarter was approximately USD 424.33/MT, reflecting muted procurement activity.
• Improved rail movements increased Fluorspar Spot Price availability at Durban warehouses, easing Price Index pressure.
• Eskom tariff rises and intermittent load-shedding influenced the Fluorspar Production Cost Trend, raising beneficiation expenses.
• Fluorspar Demand Outlook stayed subdued as Asian buyers covered quarterly allocations, delaying incremental spot purchases.
• The Fluorspar Price Forecast signals modest near-term softness as inventories rise and sellers offer discounts.
• August exports contrasted with December stock builds, compelling sellers concede discounts again at Durban port.
• Major mines normalised run-rates after maintenance, while rail throughput increased export volumes to Durban hubs.
Why did the price of Fluorspar change in December 2025 in MEA?
• Recovery in mine output and improved rail logistics raised port inventories, easing immediate supply tightness.
• Buyers paused after securing fourth-quarter cargoes, reducing urgent spot demand despite firm overseas benchmark support.
• Fewer beneficiation outages lowered operating costs, reducing seller pricing power and prompting modest port discounts.
Europe
• The Fluorspar Price Index in Europe showed a steady upward bias through Q4 2025, supported by firm demand from HF producers and steel mills.
• Fluorspar Spot Price trends reflected tight supply conditions, as European buyers faced reduced imports amid global supply concentration in China and Mexico.
• The Fluorspar Demand Outlook remained positive, driven by stable steel production, growing refrigerant manufacturing, and rising interest from EV battery material producers.
• The Fluorspar Production Cost Trend increased slightly due to higher mining costs, energy prices, and logistics constraints across major exporting countries.
• The Fluorspar Price Forecast for early 2026 pointed to continued firmness, with expectations of constrained global supply and resilient downstream consumption.
• December 2025 Price Index Movement: Prices increased in December due to tighter winter-season logistics, stronger HF feedstock demand, and reduced Chinese export availability.
Why did the price of Fluorspar change in December 2025 in Europe?
• Winter-related logistics disruptions tightened supply, lifting the Price Index.
• Strong HF and steel sector procurement increased spot market competition.
• Lower Chinese export volumes pushed European buyers to secure higher-priced shipments.
For the Quarter Ending September 2025
North America
• In the USA, the Fluorspar Price Index rose by 3.67% quarter-over-quarter, reflecting tighter imports and caution.
• The average Fluorspar price for the quarter was approximately USD 480.67/MT, CFR Houston basis assessment
• Fluorspar Spot Price tightened as imports fell and freight rose, supporting near-term price firmness levels.
• Fluorspar Price Forecast suggests modest upside while Fluorspar Production Cost Trend rises with freight pressures.
• Fluorspar Demand Outlook stays muted in refrigerant and HF markets, while steel sustains baseline consumption.
• High inventories at US terminals pressured the Fluorspar Price Index, constraining spot negotiations and margins.
• Domestic project developments offer strategic support but limited immediate output, slowly reducing import dependence expectations.
• Port operations remained stable, but rising inland freight increased landed costs, affecting procurement timing decisions.
Why did the price of Fluorspar change in September 2025 in North America?
• Tight import availability from key exporters reduced supply, tightening spot availability, and supporting CFR levels.
• Elevated freight and port handling costs increased landed production cost, transmitting cost-push pressures to prices.
• Soft downstream procurement and inventories prompted buying restraint, muting demand pull for HF and refrigerants.
APAC
• In Japan, the Fluorspar Price Index fell by 3.8% quarter-over-quarter, reflecting weak demand, high inventories.
• The average Fluorspar price for the quarter was approximately USD 505.67/MT, reflecting soft procurement levels.
• Japan's Fluorspar Spot Price volatility narrowed as steady imports persisted, yet port stocks remained elevated.
• The Fluorspar Price Forecast suggests modest upside from seasonal restocking amid constrained exports by buyers.
• Freight increases and yen weakness shaped the Fluorspar Production Cost Trend, lifting landed cost pressures.
• Fluorspar Demand Outlook remains soft as hydrofluoric acid and refrigerant procurement stay subdued across sectors.
• Export variability and port destocking influenced the Fluorspar Price Index trajectory, tempering declines this quarter.
• Major supplier production variability and seasonal mine inspections constrained availability, affecting Fluorspar Spot Price dynamics.
• Downstream selective restocking gradually drew down inventories, providing modest support to the Fluorspar Price Index.
Why did the price of Fluorspar change in September 2025 in APAC?
• Import-dependent supply met softer domestic demand, leaving elevated inventories and reducing spot buying pressure materially.
• Yen depreciation and higher freight increased landed costs, prompting cautious procurement and delaying restocking activity.
• Seasonal mine inspections and variable export flows constrained availability, tightening supply and supporting price rebounds.
MEA
• In South Africa, the Fluorspar Price Index fell by 0.7% quarter-over-quarter, reflecting weaker export demand.
• The average Fluorspar price for the quarter was approximately USD 428.33/MT, reflecting muted export activity.
• Constrained port throughput tightened availability, supporting Fluorspar Spot Price against the Price Index trend short term
• Fluorspar Production Cost Trend showed pressure from inland transport and energy costs, squeezing producer margins
• Fluorspar Demand Outlook stayed subdued as HF producers bought on demand, limiting restocking and offtake
• Inventory build-up at producer sites pressured the Fluorspar Price Index despite export buying from Asia
• Operational maintenance and safety inspections reduced shipments, influencing the Fluorspar Price Forecast for the coming months
• Producers scaled back forward offers amid profitability pressure, moderating export volumes and regional market recovery
Why did the price of Fluorspar change in September 2025 in MEA?
• Port congestion, inland logistical disruptions delayed shipments, reducing export flow, and pressuring September spot availability
• Weak downstream demand from the hydrofluoric acid and refrigerant sectors reduced procurement, lowering the quarterly Price Index
• Elevated transport and energy costs raised production cost base, constraining margins and prompting cautious offers.
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.
