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SunSirs: This Week's Bromine Market Price Was Consolidating (January 29-February 2)
February 04 2024 14:53:07SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, the price of bromine had been weak this week. The average market price from the beginning of the week to the weekend was 22,500 RMB/ton, a year-on-year decrease of 43.75%.

On February 1st, the bromine commodity index was 78.95 points, unchanged from the previous day, a decrease of 67.80% from the highest point in the cycle of 245.18 points (2021-10-27), and an increase of 34.00% from the lowest point of 58.92 points on October 29th, 2014. (Note: The cycle refers to the period from September 1st, 2011 to present)

Analysis review

This week, the price of bromine had been consolidating and operating, with mainstream prices in the Shandong market ranging from 21,500 to 23,000 RMB/ton, and market prices had been consolidating horizontally. The supply side had recently declined. The downstream flame retardant and intermediate industries were still mainly purchasing on demand recently, and stocking was not active. And due to the approaching Spring Festival, transportation will be limited, resulting in overall poor demand.

In terms of raw materials, domestic sulfur prices havd been operating steadily this week, with an average market price of 933.33 RMB/ton at the beginning of the week and 940 RMB/ton at the weekend, with a price increase of 0.71% and a year-on-year decrease of 20.75%. This week, the overall price of raw sulfur had been consolidating.

Market outlook

The price of bromine had been fluctuating recently, while the upstream sulfur price had been consolidating. The supply of bromine had slightly decreased recently, and the downstream flame retardant and intermediate industries of bromine were still mainly purchasing according to demand. The stocking was not active, and there was no positive support. It is expected that the price of bromine will be consolidating in the short term, depending on the downstream market demand.

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