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SunSirs: Bromine Prices Were Temporarily Stable This Week (March 20-24)
March 24 2023 14:36:28SunSirs(John)

Price trend

According to monitoring data from SunSirs, bromine prices temporarily stabilized this week. The average market price from the beginning of the week to the end of the week was 26,000 RMB/ton, down 53.43% year-on-year.

The bromine commodity index on March 23 was 91.23 points, unchanged from the previous day, down 62.79% from the cycle's highest point of 245.18 points (2021-10-27), and up 54.84% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to 2011-09-01 to now)

Analysis review

This week, the mainstream of bromine prices remained stable. The inventory pressure of bromine enterprises had eased and prices were intentionally stabilized. The downstream flame retardant and intermediate industries had not seen a significant increase in recent operating rates, and they still mainly purchased on demand. There was no inventory pressure on bromine enterprises, and the mindset of the industry was improving. Bromine manufacturers intended to stabilize prices, and prices gradually tended to stabilize.

In terms of raw materials: The domestic sulfur price was weak this week, with an average market price of 1,213.33 RMB/ton at the beginning of the week and 1,170 RMB/ton at the weekend. The price fell by 3.57%, and down 63.25% year-on-year. Sulfur enterprises were actively shipping, and downstream demand was weak. They purchased in the market and followed up as needed. Sulfur enterprises' shipments were poor, and the sulfur market was sorted out to be weaker.

Market outlook

Analysts from SunSirs believe that the mainstream price of bromine maintained stable operation recently, while the upstream sulfur price declined. The demand of downstream flame retardants and intermediates in the bromine industry had followed up relatively slowly. There had been no inventory pressure on bromine recently, but there was also less room for profit-cutting. It is comprehensively estimated that the bromine price will consolidate and operate in the short term, depending on the downstream market demand.

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