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SunSirs: Sulfur Prices Continued to Rise This Week (March 9-13)

March 17 2020 11:24:28     SunSirs (John)

Price trend

According to the monitoring of SunSirs, the average ex-factory price of the sulfur market in East China this weekend was 646.67 RMB/ton, which was an increase of 7.18% compared with the average price of 603.33 RMB/ton at the beginning of the week, a 43.44% decrease from last year.

 

Analysis review   

Product: The domestic sulfur market talks were slightly quiet this week. In terms of outer disks, the official price of the UAE continued to rise in March, the spot supply of outer disks was tight, and intra-portal offers were high and stable. Sulfur prices continued to rise this week, and the enthusiasm for downstream purchases was weakened and mostly on demand. Buyers and sellers intended to keep the price difference, and the trading on the floor was mostly deadlocked. Refinery shipments in various regions were relatively stable. Except for the stable price operation of individual refineries, refineries in various regions within the week adjusted according to their own shipping conditions. As of the 13th, Sinopec's quotation for solid sulfur in East China was 610-710 RMB/ton, liquid sulphur was quotation at 490-600 RMB/ton; Sinopec North China's quotation for solid sulfur was 530-570 RMB/ton, and liquid sulphur was 410-450 RMB/ton; Sinopec in Shandong offers solid sulfur at 640-650 RMB/ton and liquid sulfur at 430-480 RMB/ton.

Industrial chain: The downstream sulfuric acid market operated steadily and weakly. Shandong's smelting acid supply is sufficient, acid enterprise inventory is high, demand is weak, pressure is slowly released. In addition, the operating load of individual sulfuric acid enterprises has increased, the supply of sulfonic acid has increased but the follow-up has not been sufficient in the downstream, and it cannot be consumed quickly in the short term. In order to ease the pressure on inventory, manufacturers continue to sell profits. Although Hubei phosphate fertilizer manufacturers have started one after another, the surrounding acid factories generally have large inventory and fierce competition for resources. On the other hand, downstream phosphate fertilizer demand is limited, market supply is weak, and acid prices are weak.

 

Market outlook

Sulfur analysts of SunSirs believe that from the performance of current supply, the port inventory is high, the regional refineries are operating smoothly, the downstream phosphate fertilizer supply is increasing, sulfur is purchased on demand, the buyer and seller are in a deadlock when the market is uncertain, and the sulfur market is expected to be narrow finishing, depending on the situation of the factories in the market.

 

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

 

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