SunSirs: Affected by the Negative Factors of Many Parties, the Price of Sulfur Continued to Drop Sharply in the Week

https://www.chemnet.com   Aug 01,2022 SunSirs

According to the price monitoring of SunSirs, the price trend of sulfur in East China has fallen sharply this week. The price of sulfur on July 29 was 940.00 RMB/ton, compared with the price of 1,640.00 RMB/ton on July 23, a decrease of 42.68% in the week. It fell 73.91% from the beginning of the month.

Analysis review

Sulfur prices continued to drop sharply this week. Downstream market fell weakly, the start rate was low, and the demand for sulfur was weak. In the market, there were low-priced sources of goods, and there was great pressure on on-site shipment competition, and the pressure on the inventory of sulfur refineries increased In addition, the market in the port area continued to decline, and the negative sentiment in the market was obvious. Under the sentiment of buying up and not buying down, the sulfur market declined weakly. As of the 29th, the price of solid sulfur in refineries in Shandong was between 850-1,220 RMB/ton, and the mainstream price of liquid sulfur was 750-1,150 RMB/ton.

The downstream sulfuric acid market weakened, and the price fell continuously during the week. On July 29, the price was 682 RMB/ton, a decrease of 12.30% compared with last weekend's price of 778 RMB/ton. The price of domestic mainstream sulfuric acid manufacturers dropped sharply, the market performance was relatively sufficient, the downstream demand was sluggish, the enthusiasm for purchasing in the market was weak, the contradiction between supply and demand in the market was obvious, the focus of market trading shifted downward, and the sulfuric acid market declined weakly during the week.

The downstream phosphate fertilizer market was wait-and-see, and the downstream compound fertilizer operated at a low load, reducing the purchase of raw material ammonium biphosphate. The domestic demand for DAP was basically stagnant, and most manufacturers stopped quoting, mainly exporting. The overall demand in the ammonium phosphate market was sluggish, the industry was cautious, and the focus of traders' transactions dropped. In the short term, the ammonium phosphate market is mainly weak.Market outlook

Sulfur analysts from SunSirs believe that domestic sulfur prices have plummeted, downstream demand is insufficient, low prices exist on the market, and there is obvious pressure on companies to compete in shipments. Coupled with the downturn in the port market, under many factors, the support for sulfur in the market is weak. In the mood of buying up and not buying down, it is expected that the sulfur market will be weak in the short term, and pay attention to the market follow-up.

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