(May 31, 2026) The domestic white carbon black market has shaken off seasonal fluctuations and is operating in an overall pattern of "cost support, low inventory, stable transactions, and strong sentiment." Unlike previous market trends driven by single downstream demand, this month's white carbon black market was driven mainly by strong raw material costs and the industry's low inventory levels. Coupled with merchants' wait-and-see sentiment and rebounding in actual order trading, the overall industry trend remained stable with resilience, end-user bargaining space continued to narrow, and market operation quality significantly improved compared to previous periods.

The raw material side remains strong, providing solid cost support for the white carbon black market. Production of white carbon mainly relies on basic chemical raw materials such as sodium silicate, sulfuric acid, and liquid alkali. In May, the domestic basic chemical raw material market overall remained stable with a slight increase, with raw material prices in major production areas remaining high. Affected by upstream equipment maintenance, regional logistics controls, and low raw material inventories, raw material procurement costs for manufacturers have risen year-on-year and month-on-month. Continuously rising production costs effectively block the downside in the white carbon black market, allowing industry quotations to maintain a rigid bottom line for a long time and eliminating the chaos of price cuts and volume increases during off-seasons.

Industry inventories remain at low levels, becoming the core driver for market stability. Entering May, domestic silica producers have adhered to a production model of production based on demand and sales orders, strictly controlling finished product inventory backlogs. Compared to previous years in May when the industry experienced inventory accumulation and weak market conditions, this year's inventory structure has been significantly optimized. Mainstream manufacturers maintain finished product inventories at reasonable levels, with no inventory pressure or low-price dumping of inventory clearance. Some high-end specification products have even experienced temporary supply shortages and delayed order scheduling, completely reversing the traditional weak market situation.

Market trading atmosphere continues to improve, and intermediaries are becoming more proactive. At the beginning of the month, market merchants generally maintained a cautious and wait-and-see attitude, with a slow purchasing pace focusing on small orders for restocking and immediate use during purchase. With raw material prices remaining firm during the month and downstream rigid demand steadily released, all negative market factors have basically been eliminated, intermediaries' expectations for the market have gradually improved, and enthusiasm for restocking has clearly increased. In the mid to late period, concentrated market restocking drove an increase in actual order transaction volumes, tightening the structure of market circulation, generally firm bidding sentiment among merchants, and a significant reduction in disorderly bargaining.

Regional market trends diverged, with mainstream production areas offering firm quotes. Production units in core domestic production areas such as Shandong, Fujian, Jiangxi, and Jiangsu operated stably, operating rates remained normal, with no concentrated shutdowns or production cuts. Among them, East and South China, relying on developed downstream industrial clusters, maintained high transaction activity and the strongest market prices; North and Central China regions were affected by regional circulation, with slight price adjustments but minimal overall fluctuations, regional price spreads maintained within a reasonable range, and the overall market operation order was good.

With both raw materials and inventory advantages, the company's profitability environment continues to improve. Previously, the white carbon black industry had long been affected by low-price competition, raw material fluctuations, and inventory backlogs, which continuously squeezed corporate profit margins. This month, supported by stable costs, low inventories, and rebounding transactions, companies have shipped products smoothly, production and sales matching have greatly improved, and with stable premiums on high-end sources, the overall industry gross profit level has steadily recovered. The operating pressure on small and medium-sized enterprises has eased, and the overall business atmosphere in the industry continues to improve.

Regarding the market outlook, industry analysts have comprehensively assessed that the favorable factors for the white carbon black market in June will continue. There is currently no expectation of a sharp decline in raw materials, and cost support remains solid; Meanwhile, downstream end-user production in summer is stable, and there will be no obvious gap in rigid demand, so the low inventory level is expected to continue. Overall, in the short term, the domestic white carbon black market will continue its stable to slightly strong trend, with low probability of sharp price fluctuations. The market will continue to maintain a healthy operation pattern of price stability, volume growth, and quality improvement, further consolidating the industry's stable and healthy development pattern.