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SunSirs: Demand Exceeds Supply, Domestic Bromine Market Continues to Rise
September 17 2020 07:52:43SunSirs(John)

Price trend

According to the data monitoring of SunSirs’ bulk list, the price of bromine in Shandong has continued to rise recently. As of September 15, the average price in Shandong has been around 29,944 RMB/ton, an increase of 3.26% from the beginning of the month, and an overall decrease of 1.21% from the same period last year.

Analysis review   

At present, the overall supply of bromine in the domestic market is still tight. In addition, the government began to levy resource taxes in September. The price of bromine continues to rise, the overall inventory of bromine companies is low, the downstream market demand is stable, and the bromine market continues to rise. At present, mainstream bromine companies offer around 29,500-31,000 RMB/ton.

In the upstream, the sulfur market is stable and strong, the port arrivals are small, and the market is weak. The main price is stable. The current price is about 796 RMB/ton; the sulfuric acid market is operating steadily, and the downstream market is in demand for purchases, and transportation during the National Day Restricted issues, the market has stabilized recently, currently around 392 RMB/ton; Domestic liquid caustic soda prices are basically stable, mainly due to price stalemates. The weakening of downstream demand causes prices to weaken. The overall supply of caustic soda exceeds demand. The demand has not yet shown signs of improvement, currently about 452 RMB/ton. The main downstream flame retardant market of bromine just needs to be stable, and the stock preparation is active before the holiday; the pharmaceutical and pesticide intermediate industries are starting generally, and the demand side is flat for bromine price support.

Market outlook

Bromine industry analysts of the business agency believe that the current tight balance between supply and demand in the domestic bromine market is difficult to alleviate in a short period of time. The downstream market has a high pre-holiday stocking intention. In addition, some bromine companies have accumulated inventory, and the market supply is still tight. Bromine prices are expected to rise strongly in a short period of time.

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