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SunSirs: Supply Is Tight, the Bromine Market Firmed up in July
July 29 2020 16:08:05SunSirs(John)

Price trend

According to the data monitoring of SunSirs’ bulk list, after several months of weakness, the price of bromine in Shandong began to adjust. As of July 28, the average price in Shandong was around RMB 27,111/ton, an increase of 3.17% from the lowest price in the month on July 17, and a sharp drop of 14.9% from the same period last year.

Analysis review

Products: At the beginning of this month, the domestic bromine price continued its previous weakness. Affected by poor downstream market demand, the price of bromine continued to decline. After the middle of the month, due to the policy and the arrival of the flood season, the spot supply in the market declined, and the industry's market outlook for the bromine market supply expectations were declining, coupled with the lack of significant corporate inventory pressure, companies hada better intention to raise prices, and the market had strong buying sentiment, but downstream market demand was still weak. At present, mainstream bromine companies offer about 27,000-27,500 RMB/ton.

Industry chain: The sulfur market is consolidating at a high level, and the price is now stable after falling. The overall market trading is still light. The negative sentiment in the industry is spreading. The current price is about 623 RMB/ton; the prices of mainstream manufacturers in the sulfuric acid market have risen slightly, manufacturers have low inventories, and downstream demand is strong. Under the contradiction between supply and demand, the product trend is going up, and the current price is about 427 RMB/ton; Domestic liquid caustic soda prices have been steadily weakening within the month, which coincides with the off-season of demand for caustic soda, and the price stalemate is mainly. The weakening of downstream demand caused prices to weaken. Shandong's performance is stable. Although the northwestern China is driven by maintenance, the caustic soda inventory continues to increase, currently around 497 RMB/ton. The main downstream flame retardant market purchases of bromine are still mainly based on rigid demand, the market is starting to be flat, and industries such as pharmaceutical and pesticide intermediates are starting generally, and the demand side does not support the price of bromine.

Market outlook

Bromine industry analysts of SunSirs believe that the current domestic bromine market is gradually returning to normal, and the market spot supply is stable, but the downstream flame retardant market continues to be weak, and the company's receiving situation is not good. In the long term, there is insufficient support for the price of bromine, and it is expected to remain stable after rising in a short period of time.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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