SunSirs: The Sulfur Market Experienced a Slight Decline

https://www.chemnet.com   Sep 10,2024 SunSirs

Price trend                               

According to the Commodity Market Analysis System of SunSirs, sulfur prices had slightly decreased this week. On September 6th, the sulfur price was 1,425.00 RMB/ton, a decrease of 2.73% compared to the sulfur price of 1,465.00 RMB/ton on September 2nd, and an increase of 11.76% compared to the beginning of last month.

Analysis review                      

The sulfur market had slightly declined this week. The sulfur production during the week was 216,200 tons, an increase from last week. Manufacturers shipped smoothly, while refineries lowered their prices slightly based on their own shipment situation. In terms of ports, the atmosphere of terminal and trader replenishment gradually weakened, which weakened the support for the spot market. The sulfur market price remained stable with small fluctuations.

Downstream market trends in the industrial chain:

The downstream sulfuric acid market was running sideways. On September 6th, the average price of sulfuric acid in China was 400 RMB/ton, an increase of 50 RMB/ton compared to the price of 350 RMB/ton at the beginning of last month, an increase of 14.29%. The production of on-site enterprises was stable, the market supply was sufficient, downstream demand was insufficient, stocking was followed up as needed, acid companies had average shipments, manufacturers were in a stalemate, and the short-term sulfuric acid market was operating on a wait-and-see basis.

The downstream ammonium biphosphate market was weak and declining. On September 6th, the average price of 55% powdered ammonium biphosphate was 3,323.33 RMB/ton, a decrease of 0.40% compared to the price of 3,336.67 RMB/ton on September 1st. Downstream demand had shown weak performance, new order follow-up was weak, market transactions were insufficient, and manufacturers faced significant sales pressure, resulting in a decline in ammonium prices.

Market outlook

The sulfur analyst from SunSirs believes that the market trading atmosphere was mild, and downstream enthusiasm was average. It is expected that the short-term sulfur market will remain stable and wait-to-see, and specific attention will be paid to downstream follow-up.

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