SunSirs: Sulfur Market Continued to Decline (March 25-31)

Price trend

According to the price monitoring by SunSirs, the trend of sulfur prices in East China continued to decline this week. On March 31, the average price of sulfur was 1,066.67 RMB/ton, a decrease of 8.83% compared to the price of 1,170.00 RMB/ton on March 25, and a decrease of 5.33% compared to the beginning of the month.

Analysis review

Sulfur market in East China was weak. During the week, the refinery units operated smoothly, the market supply of goods was relatively sufficient, downstream demand was sluggish, the terminal market entered the off-season, on-site trading was light, and the mentality of the industry was deadlocked. In order to stimulate shipment, refineries reduced their prices one after another, resulting in a significant decline in sulfur prices during the week. As of the 31st, the mainstream price of solid sulfur in refineries in Shandong Province was around 1,100-1,160 RMB/ton; The mainstream price of liquid sulfur was 930-1,220 RMB/ton.

The downstream sulfuric acid market declined weakly, with the average domestic sulfuric acid price at 240 RMB/ton as of March 31, a decrease of 5.88% compared to last Friday's price of 255 RMB/ton.The sulfuric acid plant operated normally, market supply was sufficient, downstream demand was weak, mainly digested the inventory, taking goods into the market was mainly based on demand. Sulfuric acid manufacturers had lowered their prices to stimulate shipments, resulting in weak sulfuric acid market performance.

The market of ammonium biphosphate rose slightly. On March 31, the average market price of 55% powdered ammonium biphosphate was 3,220 RMB/ton. On March 25, the average market price of 55% powdered ammonium biphosphate was 3,200 RMB/ton. The market price of ammonium biphosphate rose 0.63%.Downstream demand was weak, and follow-up was mainly based on demand. There were few new orders in the market, and some manufacturers' shipments were acceptable. The quotation had been slightly increased, and the market situation was sorted and operated.

Market outlook

According to sulfur analysts from SunSirs, the domestic sulfur market had a relatively sufficient supply of goods, with the terminal industry entering the off-season, and downstream purchasing was weak. The market performance was oversupply, resulting in a stalemate among the industry. It is expected that the sulfur market will be sorted weaker in the short term, and specific attention should be paid to downstream follow-up.

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