SunSirs: Soaring, Domestic Sulfuric Acid Prices Rose by 83.75% in August

Price trend

According to the Commodity Analysis System of SunSirs, the domestic sulfuric acid market prices increased significantly in August. The market price of sulfuric acid increased from 160.00 RMB/ton at the beginning of the month to 294.00 RMB/ton at the end of the month, an increase of 83.75%. The price at the end of the month was increased by 4.26% year-on-year.

Analysis review

From the supply side perspective, the prices of mainstream domestic sulfuric acid manufacturers had significantly increased this month, and the inventory of manufacturers was relatively low. At the end of month, the price of Heze Jiangyuan’s sulfuric acid was 250 RMB/ton, which had increased by 190 RMB/ton compared to the beginning of the month; At the end of month, the price of Zouping Tianlu sulfuric acid was 210 RMB/ton, which had increased by 130 RMB/ton compared to the beginning of the month; The quotation for Changzhou Qinghong’s Sulfuric Acid at the end of the month was 360 RMB/ton, which was an increase of 200 RMB/ton compared to the beginning of the month; The quotation for Changzhou Yangtze River’s sulfuric acid at the end of the month was 400 RMB/ton, an increase of 160 RMB/ton compared to the beginning of the month.

Cost side: The sulfur market significantly increased

The ex factory price of sulfur was increased significantly in August. The price of sulfur increased from 853.33 RMB/ton at the beginning of the month to 1,093.33 RMB/ton at the end of the month, an increase of 28.13%. The price at the end of the month was decreased by 7.08% year-on-year. Overall, the sulfur market had significantly increased, with good cost support, which had a positive impact on the price of sulfuric acid.

On the demand side: The market for hydrofluoric acid had slightly increased

The hydrofluoric acid market slightly increased in August. The price increased from 9,483.33 RMB/ton at the beginning of the month to 9,816.67 RMB/ton at the end of the month, an increase of 3.52%. The price at the end of the month was decreased by 4.03% year-on-year. The titanium dioxide market slightly increased in August, with the price of titanium dioxide rising from 16,000.00 RMB/ton at the beginning of the month to 16,700.00 RMB/ton at the end of the month, an increase of 4.38%. The price at the end of the month was decreased by 4.57% year-on-year. Overall, the downstream market of sulfuric acid had slightly increased, and downstream manufacturers had increased their enthusiasm for purchasing sulfuric acid.

Market outlook

In mid to early September, the domestic sulfuric acid market may fluctuate and rise slightly, with consolidation being the main trend. The downstream market for hydrofluoric acid and titanium dioxide had slightly increased, and downstream enthusiasm for purchasing sulfuric acid had increased. Upstream sulfur prices had significantly increased, with good cost support. SunSirs’ sulfuric acid analysts believe that in the short term, under the influence of various factors such as supply and demand and raw materials, the sulfuric acid market may fluctuate and rise slightly, with consolidation being the main trend.

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