SunSirs: The Domestic Sulfur Market Was Weakly Down This Week (March 30-April 3)

Price trend

According to the price monitoring of SunSirs, the average ex-factory price of the sulfur market in East China this weekend was 626.67 RMB/ton, which was 4.08% lower than the average ex-factory price of 653.33 RMB/ton at the beginning of the week, a decrease of 44.71% from last year.

Analysis review   

Product: The performance of the domestic sulphur market was slightly flat this week. On the external side, the spot supply was tight and prices were high, with limited support within the port. Sulphur quotations were weakly lowered this week. The downstream purchasing enthusiasm was not high and the intentional price was low. Fertilizers for spring cultivation entered the final stage. The export of fertilizers in the later period is not yet clear. Regional refineries adjusted their quotations based on their own shipments. As of the 3rd, Sinopec's quotation of solid sulfur in East China was 580-680 RMB/ton, liquid sulfur was 510-630 RMB/ton; Sinopec's northern China solid sulfur was 530-570 RMB/ton, liquid sulfur was 400-450 RMB / ton; Sinopec Shandong offers solid sulfur at RMB 630-650 / ton, and liquid sulfur at RMB 410-460 / ton.

Industrial chain: In terms of downstream sulfuric acid, the overall domestic market picked up, and sulfuric acid quotations rose. Overhaul of the main sulfuric acid plant in Shandong area, the overall supply is currently reduced, and corporate quotations have been adjusted upward. In April, the acid companies were overhauled, the supply side was significantly reduced, and the acid prices were also intended to drive the market up. The main downstream phosphate fertilizer companies have entered the tail-end, with little boost in demand, coupled with the weak support on the cost side, the upside of the sulfuric acid market is limited, and it is expected that the acid market will be finishing within a narrow range.

Market outlook

Sulphur analysts of SunSirs believe that the current demand for phosphate fertilizers is weakening, the downstream factories are not motivated to enter the market, and the refineries in various regions have adjusted downwards during the week. The stocks in the ports are high, and the industry is waiting to see the market. It is expected that the sulfur market will be calmly consolidated in the later period, waiting for market news guidance.

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

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