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SunSirs: The Price of Bromine Was High and Firm This Week (March 8-12)

March 16 2021 13:37:41     SunSirs (John)

Price trend

According to the data monitoring of the major list of SunSirs, the price of bromine operated at a high level this week. At the beginning of the week, the average price of bromine in Shandong was around 34,277.78 RMB/ton. At the weekend, the average price of bromine in Shandong was 34,333.33 RMB/ton. The price rose 0.16% and the price was at high level.

On March 14, the Bromine Commodity Index was 120.47, which was the same as previous day, a decrease of 2.04% from the highest point in the cycle of 122.98 points (2019-02-18), and an increase of 104.46% from the lowest point of 58.92 on October 29, 2014. (Note: Period refers to 2011-09-01 to present)

Analysis review

At present, domestic bromine companies are currently reporting about 34,000-35,000 RMB/ton. The domestic bromine market is consolidating, and the atmosphere of negotiation is general, and the downstream market demand performance is mediocre. There is a certain resistance to the high price of bromine. It is expected that the bromine market will consolidate at a high level in a short period of time.

In terms of raw materials: the domestic sulfur market is temporarily operating steadily, and the price of sulfur is high and strong. At present, the inventory of domestic refineries is low, the supply of on-site supplies is tight, and the downstream phosphate fertilizer export market is improving. Coupled with the domestic spring farming fertilizer, it is good for the sulfur market. The sulfur market in the future will maintain a high level of operation, and more attention should be paid to the downstream follow-up situation.

Market outlook

SunSirs analysts believe that the downstream flame retardant and intermediate industries of bromine are developing well, but they are in a state of resistance to the continuously high price of bromine. The enthusiasm of companies to receive goods is average, and the trading atmosphere is average. At present, the inventory of bromine companies is low, and the intention to raise prices is obvious. It is expected that the short-term bromine price may consolidate at a high level.

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