SunSirs: This Week, the Market Price of Bromine Was Weak (December 18-22)

Price trend

According to the commodity market analysis system of SunSirs, the price of bromine had been weak this week. At the beginning of the week, the price of bromine was 25,300 RMB/ton, while the average market price over the weekend was 25,000 RMB/ton, a decrease of 1.19% and a year-on-year decrease of 44.93%.

On December 21, the bromine commodity index was 88.07 points, unchanged from the previous day, a decrease of 64.08% from the highest point in the cycle of 245.18 points (2021-10-27), and an increase of 49.47% 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 temporarily stabilized and the mainstream market price in Shandong was around 24,500-25,500 RMB/ton, with market prices consolidating horizontally. There was sufficient inventory in the supply side 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, the domestic sulfur price rose first and then fell this week. The average market price at the beginning of the week was 1,110 RMB/ton, and the average market price over the weekend was 1,106.67 RMB/ton, with a price drop of 0.3% and a year-on-year decrease of 24.2%. This week, the overall price of raw sulfur had stabilized and the market was operating.

Market outlook

Bromine prices had been fluctuating recently, while upstream sulfur prices had been consolidating. Although bromine production had been reduced due to weather conditions, enterprises had sufficient inventory. The downstream flame retardant and intermediate industries of bromine were still mainly purchasing according to demand. Overall, it is expected that the price of bromine will consolidate and operate in the short term, depending on downstream market demand.

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