SunSirs: On July 11, the Sulfur Market in Shandong Area Was Greatly Reduced
July 12 2022 09:02:01 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the average sulfur price in East China on the 11th was 2,773.33 RMB/ton, down 12.42% from the previous working day. Shandong refinery companies sharply lowered their quotations over the weekend, and individual refineries followed suit on Monday. Compared with last Friday, sulfur fell by 490-600 RMB/ton.
Analysis review
The downstream phosphate fertilizer and sulfuric acid market was weak, the demand for sulfur was limited, the company's shipments were hindered, and the inventory pressure increased. In addition, there was a low-priced supply in the market, which led to increased sales resistance for refineries. The quotations of enterprises fell again and again, but the crude oil price at the raw material side fell, which was indirectly bad for the sulfur market. In view of all factors, the support of sulfur was weak.
Market outlook
It is expected that the short-term sulfur market will run in a weak order, and the price may continue to decrease. Pay attention to the downstream follow-up situation.
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