SunSirs: Bromine Prices Rose Slightly This Week (September 19-23)

https://www.chemnet.com   Sep 26,2022 SunSirs

According to the monitoring data of SunSirs, the price of bromine rose slightly this week. The average market price of bromine at the beginning of the week was 41,800 RMB/ton, and the average market price of bromine at the weekend was 42,000 RMB/ton, up 0.48% and down 10.99% year-on-year.

On September 22, the bromine commodity index was 147.37, the same as the previous day, down 39.89% from the highest point of 245.18 points in the cycle (2021-10-27), and up 150.12% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to 2011-09-01 to the present)

Analysis review

This week, the price of bromine stopped falling and rebounded. The downstream flame retardant and intermediate industry recently stocked up before the holiday due to the approaching National Day, and the market transaction was slightly better than the previous period. Supply and demand gamed, bromine companies intended to pull up. However, bromine companies were more reluctant to sell.

In terms of raw materials: the domestic sulfur price rose slightly this week. The average market price at the beginning of the week was 1,160 RMB/ton, and the average market price at the weekend was 1,240 RMB/ton. The price increased by 6.9% and decreased by 36.41% year-on-year. The downstream sulfuric acid market stabilized, and the quotations in some regions were raised according to the shipment situation. The trading focus of the ammonium phosphate market was slightly raised. The downstream demand improved, the trading atmosphere in the market improved, and the support for the sulfur market was strengthened. The downstream factories of sulfur in Shandong were actively receiving goods, and the refinery's shipments were relatively smooth. In addition, due to the tight supply of goods at the port, the market improved, and the industry's mentality improved, and the price of sulfur increased.

Market outlook

The analyst of SunSirs believes that the price of bromine has been consolidating and running recently, and bromine companies intend to stabilize the price. As the National Day holiday is approaching, the downstream flame retardant and intermediate industries of bromine have been actively stocking up recently, but the supply and demand of the two sides are gaming. Bromine companies are reluctant to sell, and the atmosphere is lingering. It is comprehensively expected that the price of bromine will run well in the short term, depending on the downstream market demand.

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