SunSirs: The Sulfur Market Rose on August 9th

https://www.chemnet.com   Aug 12,2024

Price trend

According to the Commodity Market Analysis System of SunSirs, sulfur prices in East China continued to rise since August. The price of sulfur in August was 1,275 RMB/ton, and on August 9th, it rose to 1,310 RMB/ton, an increase of nearly 35 RMB/ton, with a month on month increase of 2.75%.

Analysis review

Downstream market trends in the industrial chain:

The downstream sulfuric acid prices had risen. On August 11th, the average domestic sulfuric acid price was 375.00 RMB/ton, an increase of 25 RMB/ton compared to the beginning of the month price of 350.00 RMB/ton, an increase of 7.1%. The demand for phosphate fertilizers was strong, downstream production was increasing, and the demand for sulfuric acid was increasing. Acid companies were shipping smoothly, and the price trend wais rising. At the same time, the price of raw material sulfur was rising, and cost support wais favorable. Under the sentiment of buying up rather than buying down, sulfuric acid prices were rising.

Market outlook

The sulfur analyst from SunSirs believes that this week's sulfur production operation exceeded the load level of 70%, which had increased compared to last week. The downstream phosphate fertilizer market was optimistic, and from the perspective of supply and demand performance, after a period of rapid price increase in the market, merchants' mentality had gradually turned conservative, showing a more cautious attitude towards market trends, which had led to a significant calm in the overall trade atmosphere. There was temporarily no pressure on on-site supply, and it is expected that the sulfur market will strengthen and consolidate in the short term. Specific attention will be paid to downstream follow-up in the future.

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