SunSirs: Bromine Prices Had Been Consolidating This Week (July 15-19)

https://www.chemnet.com   Jul 23,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of bromine had been consolidating this week. The average market price at the beginning of the week was 20,480 RMB/ton, and the average market price over the weekend was 20,280 RMB/ton, a decrease of 0.98% and an increase of 5.62% compared to the same period last year.

On July 21, the bromine commodity index was 71.16 points, unchanged from the previous day, a decrease of 70.98% from the highest point of 245.18 points (2021-10-27) during the cycle, and an increase of 20.77% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to the period from September 1, 2011 to present)

Analysis review

This week, the price of bromine had been consolidating, with weak prices in the Shandong region. The mainstream market price was around 19,500-20,500 RMB/ton, and the decline in bromine prices had slowed down and gradually stabilized.

In terms of raw materials, domestic sulfur prices remained stable, with an average market price of 1,260 RMB/ton from the beginning of the week to the weekend, an increase of 48.24% compared to the same period last year. Downstream procurement was mainly based on demand.

Supply and demand: Recently, some seawater bromine enterprises had been greatly affected by rainfall, while brine bromine was not significantly affected by weather, but had already begun maintenance due to weather conditions. The import volume of bromine to the port was gradually decreasing. The downstream flame retardant production of bromine was average, with poor demand, and the demand for agriculture and intermediates was average.

Market outlook

The price of bromine had been running to be weaker recently, with sufficient supply and stable upstream sulfur prices. The downstream flame retardant production of bromine was average, and the demand for agriculture and intermediates was average, which resulted in poor demand. Supply and demand gamed. It is expected that bromine may continue to operate to be weaker in the later period, depending on downstream market demand.

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