1 Market Condition Monitoring

With the continuous advancement of new pesticide regulations, both domestic and foreign markets focused on essential restocking this week. Inquiries for various products continued to increase, but due to the weak market trend, purchasing sentiment remained cautious. Simultaneously, products like glufosinate-ammonium experienced renewed fluctuations influenced by adjustments to export tax rebate policies.

On January 18, 2026, the Zhongnong Lihua Technical Material Price Index was reported at 70.58 points, down 2.88% year-on-year and down 1.90% month-on-month. Among the over one hundred tracked products, 73% decreased year-on-year, 8% remained flat, and 19% increased; 38% decreased month-on-month, 54% remained flat, and 8% increased.

2 Herbicide Market

On January 18, 2026, the Zhongnong Lihua Herbicide Technical Material Price Index was reported at 77.35 points, down 2.43% year-on-year and down 2.79% month-on-month.

Glyphosate technical material saw restocking for export orders while the domestic market remained watchful. Factories halted quoting again towards the end of the week, with tentative quotes of 24,000 RMB/ton for 95% content and 24,500 RMB/ton for 97% content. Glufosinate-ammonium technical material was positively affected by export tax rebate policy adjustments, with quotes rising to 46,000 RMB/ton. Glufosinate technical (high-purity) saw mainly essential purchases; influenced by the upstream glufosinate-ammonium price increase, quotes (converted to 100% basis) were 57,000 RMB/ton. Diquat technical (mother material) prices were maintained by manufacturers at 17,000 RMB/ton, influenced by raw materials like bromine.

Cyhalofop-butyl technical material faced cost pressure, with market conditions consolidating. Terminal winter stocking commenced gradually, with quotes at 105,000 RMB/ton. Fenoxaprop-P-ethyl technical material winter stocking policies were announced, with market quotes at 170,000 RMB/ton. Bensulfuron-methyl technical material saw weaker domestic demand, quoted at 46,000 RMB/ton. Pretilachlor technical material was quoted at 31,000 RMB/ton. Butachlor technical material supply was stable, quoted at 18,000 RMB/ton. Penoxsulam technical material was quoted at 950,000 RMB/ton. Oxadiargyl technical material saw increased domestic demand, market stocking began, with manufacturer quotes at 290,000 RMB/ton. Oxadiazon technical material was stable and consolidating, with domestic and export purchases based on demand, quoted at 148,000 RMB/ton. Bentazone technical material was mainly for export, market stable, quoted at 75,000 RMB/ton. Bentazone 480 g/L AS was mainly stable, quoted at 29,000 RMB/ton. Clomazone technical material capacity released, prices declined, quoted at 56,000 RMB/ton. Oxyfluorfen technical material was mainly for export, market stable, quoted at 132,000 RMB/ton. Bensulfuron-methyl technical material market was mainly stable, spot supply tight, quoted at 150,000 RMB/ton.

Topramezone technical material market competition continued, manufacturers successively issued winter stocking policies, quoted at 490,000 RMB/ton. Tembotrione technical material new capacity increased, competition intense, quoted at 230,000 RMB/ton. Mesotrione technical material was quoted at 83,000 RMB/ton. Isoxaflutole technical material domestic stocking gradually underway, reported at 320,000 RMB/ton. Nicosulfuron technical material was quoted at 165,000 RMB/ton. Rimsulfuron technical material was quoted at 620,000 RMB/ton. Atrazine technical material market quotes were 22,500 RMB/ton. Acetochlor technical material market consolidated, quoted at 20,000 RMB/ton. Propisochlor technical material was quoted at 22,000 RMB/ton. S-metolachlor technical material was quoted at 23,000 RMB/ton.

Fomesafen technical material new stocking cycle gradually started, quoted at 106,000 RMB/ton. Quizalofop-P-ethyl technical material market seesawed, quoted at 140,000 RMB/ton. Haloxyfop-P-methyl technical material export volume increased, domestic demand limited, quoted at 116,000 RMB/ton. Clethodim technical material capacity recovered, prices continued weak, current quotes at 78,000 RMB/ton. Sethoxydim technical (mother material) market stabilized, quotes (converted to 100% basis) at 155,000 RMB/ton. Flumioxazin technical material was quoted at 145,000 RMB/ton.

Pendimethalin technical material manufacturers issued winter stocking policies, new stocking cycle began, quoted at 42,000 RMB/ton. Trifluralin technical material mainly stable, quoted at 30,000 RMB/ton. Thidiazuron technical material was quoted at 105,000 RMB/ton.

Diuron technical material was quoted at 35,000 RMB/ton. Ametryn 80% WP was quoted at 28,500 RMB/ton.

2,4-D technical material upstream raw material capacity released, quoted at 15,000 RMB/ton. Fluroxypyr-meptyl technical material mainly for export, domestic market focused on essential order replenishment, manufacturers raised quotes to 85,000 RMB/ton. Clodinafop-propargyl technical material mainly for export, quoted at 168,000 RMB/ton. MCPA-Na was quoted at 24,000 RMB/ton. Diflufenican technical material market mainly stable, market quotes at 158,000 RMB/ton. Florasulam technical material was quoted at 360,000 RMB/ton.

3 Insecticide Market

On January 18, 2026, the Zhongnong Lihua Insecticide Technical Material Price Index was reported at 62.61 points, down 2.20% year-on-year and down 1.50% month-on-month.

Chlorantraniliprole technical material stocking started, inquiry activity increased, spot inventory declined, quoted at 190,000 RMB/ton.

Abamectin refined powder circulating supply decreased, but manufacturers showed strong willingness to raise prices, quoted at 430,000 RMB/ton. Emamectin benzoate technical material manufacturer quotes were 630,000 RMB/ton, low-priced channel supply decreased.

Lambda-cyhalothrin technical material supply eased slightly, downstream essential restocking, quoted at 115,000 RMB/ton. Beta-cypermethrin technical (mother material) was quoted at 37,500 RMB/ton. Bifenthrin technical material supply relatively stable, quoted at 131,000 RMB/ton. Cypermethrin technical material market supply stable, quoted at 76,000 RMB/ton.

Imidacloprid technical material market mainly stable, quoted at 65,000 RMB/ton. Acetamiprid technical material was quoted at 60,000 RMB/ton. Thiamethoxam technical material faced cost pressure due to rising raw material prices like oxadiazine, quoted at 51,500 RMB/ton. Clothianidin technical material, influenced by rising raw material methylnitroguanidine prices and the start of the downstream medicinal fertilizer season, was quoted at 63,000 RMB/ton. Dinotefuran technical material intermediates remained tight, inventory low, quotes raised to 108,000 RMB/ton. Nitenpyram technical material was quoted at 120,000 RMB/ton.

Flonicamid technical material terminal cost-effectiveness improved, demand increased, quoted at 215,000 RMB/ton. Spirotetramat technical material market stable, quoted at 360,000 RMB/ton.

Profenofos technical material was quoted at 47,000 RMB/ton. Chlorpyrifos technical material was quoted at 40,000 RMB/ton. Malathion technical material market stable, quoted at 32,000 RMB/ton. Phoxim technical material was quoted at 32,000 RMB/ton. Fosthiazate technical material, a mainstream nematicide, market consolidated, high-end technical quoted at 290,000 RMB/ton. Dichlorvos technical material was quoted at 24,000 RMB/ton. Diazinon technical material was quoted at 47,000 RMB/ton.

Chlorfenapyr technical material overseas formulation orders delivered successively, domestic essential restocking, market weak, quoted at 126,000 RMB/ton. Fipronil technical material manufacturers focused on export, quoted at 380,000 RMB/ton. Chlorfluazuron technical material market quotes at 380,000 RMB/ton. Hexaflumuron technical material production highly concentrated, quoted at 390,000 RMB/ton. Lufenuron technical material new cycle started, terminal essential stocking, quoted at 120,000 RMB/ton. Indoxacarb technical material supply side increased output, prices slowly adjusted downward, quotes (converted to 100% basis) at 450,000 RMB/ton. Diafenthiuron technical material was quoted at 95,000 RMB/ton. Tebufenozide technical material was quoted at 220,000 RMB/ton. Methoxyfenozide technical material was quoted at 200,000 RMB/ton.

Pymetrozine technical material raw materials mainly stable, costs declined, quoted at 103,000 RMB/ton. Carbosulfan technical material was quoted at 96,000 RMB/ton. Buprofezin technical material was quoted at 58,000 RMB/ton.

Cyflumetofen technical material domestic terminal formulations successively certified, domestic and export demand increased, production capacity simultaneously expanded, price competition continued, quoted at 330,000 RMB/ton. Pyridaben technical material domestic capacity concentrated, market stabilized, quoted at 122,000 RMB/ton. Bifenazate technical material stocking cycle started, factory inventory under pressure, market competition intense, prices fell to 145,000 RMB/ton. Spirodiclofen technical material market stable, quoted at 130,000 RMB/ton. Propargite technical material mainly stable, quoted at 57,000 RMB/ton. Etoxazole technical material market weak, prices fell to 150,000 RMB/ton.

Monosultap technical material was quoted at 23,000 RMB/ton. Cartap technical material was quoted at 92,000 RMB/ton.

4 Fungicide Market

On January 18, 2026, the Zhongnong Lihua Fungicide Technical Material Price Index was reported at 69.64 points, down 4.19% year-on-year and down 0.68% month-on-month.

Difenoconazole technical material focused on essential restocking, factory quotes at 85,000 RMB/ton. Propiconazole technical material was quoted at 66,000 RMB/ton. Prothioconazole technical material stocking cycle gradually started, supply capacity gradually released, but high-quality supply remained tight, quoted at 125,000 RMB/ton. Epoxiconazole technical material market mainly stable, quoted at 242,000 RMB/ton. Flusilazole technical material market demand stable, technical market consolidated, quoted at 282,000 RMB/ton. Triadimefon technical material was quoted at 56,000 RMB/ton. Tricyclazole technical material was quoted at 61,000 RMB/ton. Hexaconazole technical material was quoted at 85,000 RMB/ton. Tebuconazole technical material this year's market stocking cycle started later, channel spot supply prices declined, factory quotes at 50,500 RMB/ton.

Pyraclostrobin technical material market consolidated in phases, market in essential restocking, quoted at 137,000 RMB/ton. Azoxystrobin technical material focused on essential restocking, quoted at 138,000 RMB/ton. Kresoxim-methyl technical material market stable, quoted at 200,000 RMB/ton. Trifloxystrobin technical material market attention increased, supply and market demand increased simultaneously, quoted at 170,000 RMB/ton.

Boscalid technical material production highly concentrated, export market gradually expanded, quoted at 270,000 RMB/ton. Thifluzamide technical material supply tight, inquiries increased, quoted at 230,000 RMB/ton. Fluopyram technical material domestic market attention high, capacity gradually released, manufacturer quotes at 360,000 RMB/ton. Fluopicolide technical material terminal market mixture formulation layout active, market demand gradually expanded, quoted at 490,000 RMB/ton.

Iprodione technical material market stabilized, quoted at 180,000 RMB/ton. Diethofencarb technical material was quoted at 150,000 RMB/ton.

Metalaxyl technical material was quoted at 95,000 RMB/ton. Metalaxyl-M technical material was quoted at 135,000 RMB/ton, mainly stable. Dimethomorph technical material market stabilized, terminal market demand released as needed, quoted at 60,000 RMB/ton. Cyazofamid technical material operating rate low, demand started, supply tight, quotes above 420,000 RMB/ton. Fluazinam technical material terminal market mixture product layout active, market demand gradually expanded, quoted at 125,000 RMB/ton.

Hymexazol technical material market supply and demand consolidated, market weak and declining, quoted at 66,000 RMB/ton. Fludioxonil technical material was quoted at 470,000 RMB/ton.

Prochloraz technical material factories delivered export orders, domestic market focused on essential restocking, quoted at 46,500 RMB/ton. Carbendazim technical material was quoted at 35,000 RMB/ton. Thiophanate-methyl technical material market stable, quoted at 30,000 RMB/ton.

Chlorothalonil technical material, due to special reasons at upstream factories, supply tightened, quoted at 30,000 RMB/ton. Oxine-copper technical material intermediates remained high, technical cost support obvious, coupled with stocking start, quoted at 83,000 RMB/ton. Propineb technical material was quoted at 31,000 RMB/ton. Thiram technical material intermediate prices remained high, cost support, quoted at 16,000 RMB/ton.

5 Intermediate Market

Upstream intermediates and raw materials experienced fluctuations successively, with supply and demand in contention. Close attention should be paid to the dynamics of key intermediates for each product.

This week, 2-chloro-5-chloromethylpyridine was mainly stable, quoted at 58,000 RMB/ton. Affected by rises in the upstream calcium carbide industry chain, methylnitroguanidine was quoted at 23,000 RMB/ton and oxadiazine at 24,000 RMB/ton this week. For pyrethroid intermediates, methyl 3,3-dimethyl-4-pentenoate upstream supply reduced, quoted at 60,000 RMB/ton. K acid, affected by rising methyl 3,3-dimethyl-4-pentenoate prices, saw increased costs, quotes rose to 115,000 RMB/ton. Anisaldehyde was quoted at 68,000 RMB/ton. O,O-Diethyl thiophosphoryl chloride was mainly stable, quoted at 20,000 RMB/ton.

6 Market Forecast

The current market focuses on essential restocking. Continued price declines for some products have intensified market观望情绪 (watchful sentiment). With the ongoing implementation of new pesticide regulations and adjustments to export tax rebate policies, some product markets show a rebound trend. Supply-demand relationships remain a crucial factor influencing market trends.