Xin Lang Cai Jing·2025-09-24 00:25Core Viewpoint - The report from CITIC Securities indicates that the price of SAF in Europe has continuously risen, currently exceeding $2,700 per ton, driven by high subsidy plans and strengthened enforcement of mandatory blending policies, leading to an expected surge in SAF demand [1] Group 1: Price Trends - European SAF prices have surpassed $2,700 per ton [1] - The price of SAF-HVO in Europe is expected to experience a reversal in the first half of 2025 [1] Group 2: Supply Dynamics - Domestic supply and the approval process for export licenses are not meeting expectations, contributing to a tight supply situation for SAF [1] - Recent intensive maintenance activities at major SAF plants both domestically and internationally are exacerbating supply constraints [1] Group 3: Industry Outlook - The trend towards the industrialization of SAF is becoming increasingly clear, suggesting a focus on major players within the industry [1]