SunSirs: With No Pressure on Sellers, Sulfur Prices Rose Accordingly (January 18-24)

Price trend

According to the price monitoring of SunSirs, the trend of sulfur prices in East China increased slightly this week. The average price of sulfur production on weekends was 1,040 RMB/ton, an increase of 3.65% from 1,003.33 RMB/ton at the beginning of the week and an increase of 106.62% year-on-year.

Analysis review

This week, domestic sulfur prices were stable with small fluctuations. During the week, domestic refinery inventories were low, downstream factories and traders purchased on demand, sellers were not pressured to sell, and some refineries' quotations increased accordingly. Sinopec Jinling Petrochemical’s solid sulfur price in East China increased by 50 RMB/ton, while other companies’ sulfur quotations were temporarily stable; Sinopec’s Shandong area fixed sulfur price was increased by 30 RMB/ton; Sinopec’s North China solid sulfur quotation was stable, and liquid sulphur was delivered to the target market, and liquid sulfur is implemented delivery price.

The downstream phosphate fertilizer market was improving, manufacturers had no pressure on sales, prices continued to rise, and the market trend was upward. In terms of sulfuric acid, the domestic market was down and the price trend was lowered in Shandong. Affected by public health incidents, the supply of goods to Hebei was limited, the downstream demand was weak, the price of mainstream sulfuric acid manufacturers was falling. The holiday is approaching, and it is not ruled out that downstream stocks may be stocked before the holiday, and the sulfuric acid market may rise slightly later.

Market outlook

Sulfur analysts of SunSirs believe that the current inventory of domestic refineries remains low, downstream demand is acceptable, and factory sales are smooth. On the port side, cargo rights are concentrated, holders' offers are stable, and most insiders hold a wait-and-see attitude. In the short term, the sulfur market will temporarily stabilize.

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