SunSirs: The Market Price of Bromine Remained Stable This Week (November 20-24)
November 28 2023 11:32:29 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the price of bromine remained stable this week. The price of bromine from the beginning of the week to the weekend was 25,200 RMB/ton, a year-on-year decrease of 46.38%.
On November 23, the bromine commodity index was 88.42 points, unchanged from the previous day, a decrease of 63.94% from the cycle's highest point of 245.18 points (2021-10-27), and an increase of 50.07% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to the period from September 1st, 2011 to present)
Analysis review
This week, the price of bromine had remained stable, with mainstream prices in the Shandong market ranging from 25,000 to 25,500 RMB/ton, and the market prices had stabilized horizontally. In terms of supply, the supply had been stable recently. The downstream flame retardant and intermediate industries were still mainly purchasing on demand recently, with a strong wait-and-see attitude.
In terms of raw materials, domestic sulfur prices were improving, with an average market price of 1,050 RMB/ton at the beginning of the week and 1,063.33 RMB/ton at the weekend, with a price increase of 1.27% and a year-on-year decrease of 25.12%. This week, the price of raw sulfur had shown an upward trend, and the market trading atmosphere was good.
Market outlook
The price of bromine had been fluctuating recently, with upstream sulfur prices rising and bromine production and supply stabilizing. However, downstream flame retardants and intermediates in the bromine industry still mainly purchased on demand. It is expected that bromine prices will consolidate in the short term, depending on downstream market demand.
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