SunSirs: The Sulfur Price Trend Was Slightly Stronger This Week

Price trend

According to the Commodity Market Analysis System of SunSirs, the sulfur price trend in East China had slightly increased this week. On October 29th, the sulfur price was at 930.00 RMB/ton, and on October 23rd, the sulfur price was at 926.67 RMB/ton, a weekly increase of 0.36% and a decrease of 8.52% compared to the beginning of the month.

Analysis review

This week, the sulfur market in the East China region was relatively stronger, and the downstream winter storage market had not yet opened. Purchasing was mainly based on demand, and the market trading atmosphere was still good. Manufacturers were actively shipping, and some sulfur refineries were shipping smoothly. The inventory of manufacturers had decreased, and the sulfur quotation had slightly increased. The sulfur market was on a wait-and-see basis during the week. As of the 27th, the mainstream price of solid sulfur in Shandong refineries was around 920-950 RMB/ton; The mainstream price of liquid sulfur was between 900-1000 RMB/ton.

Downstream market of the industrial chain

The downstream sulfuric acid price trend was weaker and downward. On October 29th, the average domestic sulfuric acid price was 268.00 RMB/ton, a decrease of 1.47% compared to the price of 272.00 RMB/ton on October 23rd. The demand in the terminal industry was poor, downstream procurement was slowing down, and the confidence of operators was insufficient. Acid companies had lowered prices to stimulate shipments, resulting in a lower focus on market transactions.

The market for ammonium biphosphate continued to remain stable. On October 29th, the average market price for 55% powdered monoammonium was 3,083.33 RMB/ton. On October 23rd, the average market price for 55% powdered monoammonium was 3,083.33 RMB/ton, and the price remained unchanged during the week. The procurement of terminal phosphate fertilizer had recovered steadily, and there were sufficient orders waiting to be issued by the ammonium biphosphate factory. Enterprises had suspended orders, and demand support was still available. At the same time, coupled with cost impact, the ammonium biphosphate market had stabilized.

Market outlook

SunSirs’ sulfur analysts believe that the operation of sulfur refining plants was normal, the market supply of goods was stable, and downstream products were mostly weak, with limited demand support. Under the supply and demand game, it is expected that the sulfur market in the future will be stagnant and organized, with narrow price fluctuations. In the future, specific attention should be paid to the downstream follow-up situation.

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