China Carbon Black Market Q1 2026
Chapter 1 Analysis of China's Carbon Black Market
1.1 Overview of China's Carbon Black Market
The carbon black market in the first quarter exhibited an inverted "V" trend. The initial surge was significant, with the highest price approaching the peak of 2025. However, the subsequent decline was similar to that of the same period in 2025. Taking carbon black N330 as an example, the highest price in the first quarter was 8004 yuan/ton, and the lowest was 5881 yuan/ton, showing a significant overall upward trend.
Carbon black prices began to rise in January. During this period, the price of raw materials increased significantly, leading to a substantial increase in new orders for carbon black. However, the downstream tire market resisted high prices, and previous low-priced orders were still being fulfilled. The actual price increase in the market was limited, resulting in losses for the carbon black market. Cost pressures kept market prices high, and the operating rate of production facilities declined slightly during the month, reducing supply pressure in the market.
In February, carbon black prices remained relatively stable, with limited overall price fluctuations. New orders were gradually negotiated. The continuous rise in raw material market prices during the period drove up carbon black market prices. However, after the price surge before the Spring Festival holiday, actual carbon black transactions were limited.
Downstream tire manufacturers had largely completed new orders, and pre-holiday replenishment orders decreased. Upon returning from the holiday, raw material coal tar prices rose, and carbon black market prices followed suit. Furthermore, downstream enterprises that had undergone maintenance during the holiday gradually resumed production and entered the market to inquire and purchase, providing support for a willingness to raise carbon black market quotations.
In March, carbon black market prices exhibited a trend of rising first and then falling. During the month, raw material market prices rose sharply, driving carbon black product quotations to their highest level for the year. However, after the price increase, downstream resistance emerged, and high-level transactions were limited. As raw material prices fell from their highs, bearish sentiment emerged in the market, and new orders turned downward. Meanwhile, downstream tire manufacturers maintained their pressure on the market during new order negotiations, resulting in a significant decline in market transaction prices.
1.2 Average Monthly Prices of Carbon Black in Different Regions
1.3 Profit Analysis of China's Carbon Black Industry
The overall profit and loss margin of the carbon black industry continued to narrow in the first quarter, reaching profitability by the end of the quarter. Taking N330 carbon black enterprises in Shandong Province as an example.
