New Materials Price Trend Report — July 7, 2026

Price Overview

Key Price Movements

Carbon Fiber (T300/T700): -2%–4% (Oversupply + Weak Demand)

Domestic carbon fiber capacity continues to expand, with major producers like Jilin Chemical Fiber maintaining normal operating rates and inventory levels elevated across the market. This week, T300 12K transaction prices dropped to ¥75–85/kg, while T700 12K fell to ¥100–130/kg. Wind turbine blades, the primary downstream sector, are releasing demand below expectations; emerging applications in low-altitude economy and NEVs have not yet compensated for the supply overhang. Prices are expected to remain under downward pressure in the near term.

Tungsten-based Ceramic Raw Materials: -13%–18% (Sharp Decline in Upstream Tungsten Concentrate)

Zhangyuan Tungsten’s July 1H 2026 long-term order quotes: Black tungsten concentrate at ¥448,000/dmtu (-13.8% WoW), ammonium paratungstate (APT) at ¥660,000/MT (-15.4% WoW). Drivers include looser supply from Russian imports and domestic mines, combined with weakening manufacturing procurement demand. Tungsten-based ceramic input costs are expected to ease in the near term.

PTFE Resin: Steady-to-firm (Maintenance Support + Peak Season)

Shandong suspension medium grain quoted at ~¥31,800/MT, Fujian dispersion resin at ¥50,000/MT, broadly stable. The fluorspar-R22 chain remains firm, PTFE plant maintenance continues across producers, and traders are holding firm on offers. Downward pressure is limited; upside is capped by tepid end demand.

PI Film: Steady-to-firm (Strong Demand + High Import Dependence)

Electronic-grade PI film remains in the ¥1,000,000–¥3,000,000/MT range. High-end grades rely heavily on imports from DuPont, Ube, and SK Kolon. Domestic substitution is in progress but slow. Sustained demand from 5G, NEVs, and semiconductor packaging keeps supply tight.

Impact Analysis

On Procurement Costs

Positive (Cost Relief):

• Crude oil sharply lower (WTI breaking below $68/bbl, Brent ~$72/bbl), weakening cost support across the petrochemical chain
• Tungsten-based inputs down significantly (-15.4% APT), easing cost pressure for tungsten-based ceramic manufacturers
• Carbon fiber sustained at low levels benefits composite material producers reducing raw material spend

Negative (Cost Rigidity):

• PI film import dependence exceeds 60%; RMB/USD rate and import tariffs sustain cost floor
• High-end PEEK grades (medical/aerospace) remain at ¥1,500–2,000/kg
• PTFE constrained by fluorspar supply, limiting downside

On Supply Chain

• Carbon Fiber: Oversupply + destocking pressure — extended supplier payment terms; preferred treatment for long-term contract customers
• PI Film: Domestic substitution accelerating (Ruihuatai capacity expansion), but electronic-grade still import-dependent
• PEEK: Domestic substitution improving (Zhongyan Stock, Junhua Special Materials expanding), long-cycle orders may consider locking domestic suppliers
• Special Ceramics: Sharp tungsten-based price drops may trigger upstream hold-and-wait behavior; watch price transmission pace

Actionable Recommendations

Data Sources: SCI99, Longzhong, Chemicalbook, CBC Metal, CNGold (Crude), Guidechem
Report Date: July 7, 2026