SunSirs: Bromine Prices in Shandong Region Stopped Falling and Rose

https://www.chemnet.com   Aug 07,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of bromine in Shandong region had stopped falling and rebounded, rising. The average market price in early August was 20,300 RMB/ton, and on August 6th it was 20,700 RMB/ton, with a price increase of 1.97% and a decrease of 5.05% compared to the same period last year.

On August 5th, the bromine commodity index was 72.63 points, up 1.05 points from the previous day, down 70.38% from the cycle high of 245.18 points (2021-10-27), and up 23.27% 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

In terms of raw materials, domestic sulfur prices had risen, with an average market price of 1,275 RMB/ton at the beginning of the month and 1,290 RMB/ton on August 6th. The price had increased by 1.18%, which was 45.49% higher than the same period last year. The supply of sulfur was temporarily stable, and downstream factories had a positive purchasing attitude. The purchasing sentiment was stable, with a focus on on-demand procurement.

Supply side: Due to irregular rainfall, brine bromine enterprises had reduced production, and seawater bromine had also reduced production due to rainwater. The rainfall this week was still relatively high, and it is expected that there will be little change in production; In addition, the amount of imported bromine arriving at the port was gradually decreasing, and the domestic bromine inventory was decreasing.

On the demand side: Bromine plant was undergoing maintenance, but downstream stocking was average. The maintenance of the main downstream flame retardant part was weak and dominant overall. Downstream and distributors purchased as needed.

Market outlook

The price of bromine has been rising recently, with upstream sulfur prices rising. Due to reduced inventory during maintenance, downstream flame retardants were operating normally, while agricultural and intermediate demand was average. The supply and demand gamed. Overall, it is expected that the bromine market will continue to consolidate in the later stage. The mainstream average ex factory price of bromine in domestic regions is around 20,000-21,000 RMB/ton, depending on downstream market demand.

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