SunSirs: The Sulfur Market Continued to Rise This Week (August 12-16)

https://www.chemnet.com   Aug 20,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the overall price of sulfur in East China continued to rise in August. On August 16th, the average ex factory price of sulfur in the East China region was 1,370 RMB/ton, an increase of 7.45% compared to the average ex factory price of 1,275 RMB/ton at the beginning of the month.

Analysis review

The sulfur market continued to rise this week. The load rate of the sulfur industry this week was around 65%, which had decreased compared to last week. The market supply was low, some refineries were shipping smoothly, inventory was decreasing, sulfur prices continued to rise, and the overall sulfur market situation was mainly stable.

Downstream market trends in the industrial chain:

The downstream sulfuric acid prices had risen. On August 16th, the average domestic sulfuric acid price was 400.00 RMB/ton, an increase of 50 RMB/ton compared to the beginning of the month price of 350.00 RMB/ton, an increase of 14.29%. The manufacturer's quotation rose significantly, downstream terminal procurement was active, and the market trading atmosphere was improving. With the dual benefits of supply and demand, the price of sulfuric acid had once again increased.

Market outlook

The sulfur analyst from SunSirs believes that sulfur manufacturers had no inventory pressure, and the favorable factors on the demand side became the key force supporting the sustained improvement of the sulfur market. However, with the continuous rise in sulfur prices, the market had also begun to pay attention to the downstream industry's acceptance of high priced sulfur. For the prediction of the future sulfur market, we need to closely monitor the reactions of downstream industries.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.

 Print  |    add to Favorites  |    Close