Sodium thiocyanate

Sodium Thiocyanate: Recent Market Dynamics Report

I. Price Trends
- Base Price: As of May 25, 2026, the Business Network’s (Shengyishe) benchmark price for sodium thiocyanate stands at RMB 8,733.33 per metric ton, down 0.38% from the beginning-of-month level of RMB 8,766.67 per metric ton, and positioned at a mid-to-lower level within the annual statistical range.
- Regional Price Disparities: Prices vary across regions—for example, Hubei Province quotes RMB 8,000/ton (99% purity), Jiangsu Province quotes RMB 9,500/ton (99% purity), and a specific enterprise in Hubei quotes RMB 8,700/ton (99% purity).
- Recent Volatility: Prices remained largely stable throughout May; between May 1 and May 25, 2026, a brief uptick occurred on May 6 to RMB 8,766.67/ton, with all other days holding steady at RMB 8,733.33/ton.

II. Supply-Demand Landscape
- Supply Side:
- Industry Concentration: The industry’s CR5 (combined market share of the top five firms) approaches 55%. Leading enterprises—including Shandong Haihua, Jiangsu Anbang, and Hebei Chengxin—have strengthened cost advantages via vertical integration and expanded into high-end, customized product lines.
- Capacity Expansion: New capacity additions focus on green and high-end production. Traditional sodium cyanide-based production (accounting for 75% of total capacity) is being rapidly phased out due to mounting environmental regulatory pressure, while emerging processes such as ammonia oxidation are currently undergoing pilot-scale testing.
- Demand Side:
- Traditional Applications: Acrylic fiber (acrylonitrile-based) production remains the largest end-use segment, though its share is gradually declining; demand from mining flotation reagents, agrochemical intermediates, and pharmaceutical synthesis remains stable.
- Emerging Applications: Significant growth is observed in new energy battery materials (e.g., solid-state electrolyte interface modulation) and ultra-high-purity electronic-grade products. Demand from pharmaceuticals and new energy sectors is projected to contribute over 70% of incremental consumption in 2026.

III. Cost and Profitability
- Raw Material Prices: Sodium thiocyanate pricing is highly sensitive to fluctuations in key raw material prices—including liquid ammonia, sulfur, and soda ash. In May 2026, liquid ammonia prices rose 2.1% month-on-month, while sulfur prices remained flat, resulting in modest upward pressure on production costs.
- Environmental Compliance Costs: Unit production costs have risen approximately 2.8% annually, driven primarily by increased investments in environmental compliance (e.g., wastewater treatment and exhaust gas purification system upgrades).

IV. Import-Export Trade
- Export Performance: China remains a net exporter of sodium thiocyanate. In 2023, exports totaled 35,000–40,000 metric tons, mainly destined for Southeast Asia, the Middle East, and South America. From January to April 2026, export volume increased 12% year-on-year, with average export prices remaining stable at RMB 8,700–8,800/ton.
- Import Performance: In 2023, imports reached 12,000 metric tons, up 1.7% year-on-year, primarily sourced from Germany, Japan, and South Korea to meet specialized demand in high-end pharmaceuticals and electronic chemicals.

V. Policy & Industry Developments
- Environmental Regulations: National “Dual Carbon” (carbon peak & carbon neutrality) goals and emerging pollutant governance policies are accelerating industry-wide green transformation. Retrofit investment per legacy plant exceeds RMB 200 million, and carbon accounting systems are being progressively implemented.
- Technological Breakthroughs: A Jiangsu-based enterprise has successfully commissioned a 5,000-ton-per-year high-purity production line (99.9% purity), enabling partial substitution of imported products—a milestone signaling the industry’s advancement toward high-end manufacturing.

Analysis & Outlook
1. Price Trend: In the short term, prices are expected to remain stable, supported by cost fundamentals and balanced supply-demand dynamics. Over the medium to long term, upward pressure on the price center is anticipated, driven by robust demand from new energy applications and tightening environmental regulations.
2. Supply-Demand Relationship: Supply-side structural optimization is enhancing high-end product availability; traditional demand remains steady while emerging-sector demand grows rapidly—leading to an overall tightening of the supply-demand balance.
3. Competitive Landscape: Industry leaders are consolidating market positions through technological superiority, cost efficiency, and channel advantages, placing SMEs under increasing competitive pressure and further elevating industry concentration.

Projections
1. Price Forecast: Sodium thiocyanate prices are expected to exceed RMB 8,800/ton in the second half of 2026; under an optimistic scenario—such as a breakthrough in solid-state battery technology—the price could reach RMB 9,000/ton.
2. Demand Forecast: Total market demand in 2026 is projected to reach 213,000 metric tons, representing a compound annual growth rate (CAGR) of approximately 4.2%, with pharmaceutical and new energy applications collectively accounting for over 70% of total demand.
3. Industry Trends: The sector will accelerate its transition toward high-value-added, green, intelligent manufacturing—with technological upgrading, capacity rationalization, and value-chain restructuring emerging as central strategic themes.