SunSirs: On January 17th, the Sulfur Market Was Consolidated and Declined
January 18 2024 14:11:38 SunSirs (John)
Product name: Sulfur
Latest price: On January 17th, the average sulfur price in East China was 920 RMB/ton, a decrease of 1.08% compared to the previous working day's 930 RMB/ton.
Analysis review
The sulfur market in the East China region had been consolidating and declining, with normal operation of on-site sulfur plants and sufficient supply of market goods. However, the downstream market was weak, with low utilization of unit capacity and weak enthusiasm for sulfur procurement. The market trading atmosphere was poor, and port prices continued to decline, which had a negative impact on the spot market. The bearish sentiment on the market was obvious, and to stimulate shipments, some refineries had lowered their sulfur prices.
Market outlook
The supply side had sufficient supply of goods, downstream demand was weak, and the situation of on-site supply exceeding demand was obvious. It is expected that the sulfur market will continue to be weak and consolidate in the future.
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