SunSirs: Supply and Demand Remained in a Continuous Tug-of-War, and Bromine Prices Were on the Rise

Price trend

According to the commodity market analysis system of SunSirs, domestic bromine prices have risen. On March 23, the average market price stood at 56,000 RMB/ton; this represents a 35.59% increase compared to the average market price of 42,300 RMB/ton recorded at the beginning of the month, and a 133.33% increase compared to the same period last year.

On March 22, the SunSirs Bromine Index registered 178.95 points, remaining unchanged from the previous day. This figure represents a 27.01% decline from the cycle's peak of 245.18 points (recorded on October 27, 2021), while marking a 203.72% increase from the cycle's low of 58.92 points (recorded on October 29, 2014). (Note: The defined cycle spans from September 1, 2011, to the present.)

Market analysis

Bromine prices in the Shandong region remained firm. Market prices for bromine in Shandong have risen, with manufacturers citing reference prices ranging from 50,000 to 60,000 RMB/ton; manufacturer quotations remained robust, and a strong bullish sentiment prevailed. On the supply side, industry operating rates were steadily increasing, while spot inventories were being replenished at a gradual pace. However, amidst tense overseas geopolitical conditions, many manufacturers were reluctant to sell. Regarding demand: downstream enterprises were showing only moderate enthusiasm for procurement; they exhibited resistance toward the rising bromine prices and were largely limiting their purchasing to immediate, essential needs. 

Regarding raw materials: Domestic sulfur prices remained generally firm last week. The average market price at the beginning of the month stood at 3,910 RMB/ton; by March 23, it had risen to 4,966.67 RMB/ton—an increase of 27.02%, and a year-on-year rise of 104.03%. Downstream sectors largely continued to engage in purchasing driven solely by immediate, essential needs.

Market outlook

Bromine prices have recently maintained a firm trend. Upstream sulfur prices have also remained robust, and while bromine supply has gradually begun to recover, downstream buyers are largely adhering to a "buy-on-demand" strategy and exhibit resistance to price hikes. Based on the interplay between supply and demand, it is broadly anticipated that bromine prices will continue to hold firm in the near term; however, future market direction will ultimately depend on the global geopolitical landscape and downstream market demand.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.