Dye Intermediate Prices Rise: Analysis of Domestic H-Acid Capacity Landscape

English summary

### Dye Intermediate Prices Rise: Analysis of Domestic H-Acid Capacity Landscape Time: 2026-07-29 20:24:24 Content: 1. Driving Logic (1) Price Side According to Baichuan Yingfu, on July 28, the average price of dye intermediate H-acid in the industry rose to 80,000 yuan/ton, up 150% since the beginning of this year, tying the historical high. According to Ranjiangfang, the price of intermediate reducing agent has remained at a high of 100,000 yuan/ton for a long time, far higher than the 2025 level of 25,000 yuan/ton. The previous loosening of dye prices may be mainly due to the game between high-cost new orders and low-cost inventory. Currently, traders and dye factories' low-price old inventory is gradually being consumed, and companies may be forced to switch to high-price raw materials. (2) Capacity Side Due to the difficulty of wastewater treatment in H-acid production and the involvement of high-risk processes such as sulfonation, nitration, and hydrogenation, the industry has long faced high environmental protection and safety production pressure, and small and medium capacity has been gradually eliminated. Since 2025, affected by accidents and production halts, the effective supply of H-acid has continued to shrink. Currently, the effective domestic H-acid capacity is less than 60,000 tons, with a supply-demand gap of over 10%. 2. ...