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HCl prices in China weakened sharply in second week of February **** as market sentiment swung from late-January volatility into a rapid correction. Early half of February activity showed a sudden downward impulse despite earlier signs of tight merchant availability driven by higher feedstock costs and resumed export liftings to Southeast Asia. HCl domestic demand patterns were mixed: electronics and pigment feedstock exports supported selective absorption while construction-related pullback and a cold spell in late January trimmed pickling demand for HCl. Broader manufacturing data also pointed to softer activity, with the NBS manufacturing PMI at **.* in January ****, signaling mild contractionary momentum heading into the month.
Sector dynamics were bifurcated through January and into February H*. Electronics-grade pickling and printed-circuit-board plants remained strong; polyurethane plants also provided robust offtake. In contrast, construction-linked PVC demand and some galvanized-sheet pickling weakened. Nickel-laterite operations re-entering the market provided moderate...
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