Price trend
According to the Commodity Market Analysis System of Business Society, the sulfur price trend in East China continued to decline this week. On January 5th, the sulfur price was 1013.33 yuan/ton, a decrease of 5.00% compared to January 1st, which was 1066.67 yuan/ton, and a decrease of 4.40% compared to the previous month.
This week, the sulfur market continued to decline, and the demand side of the terminal consumer market came to an end. Downstream procurement enthusiasm weakened, and most factories focused on demand, resulting in a sluggish market trading atmosphere; On the supply side, some refineries in Shandong region have increased their burden on equipment, leading to an increase in factory inventory and sufficient supply of goods in the market. At the same time, there is a high expectation of goods arriving at the port this month, leading to a strong bearish sentiment in the market and an increasing intention to discharge inventory. As a result, the sulfur prices of refineries continue to decrease. As of the 5th, the mainstream price of solid sulfur in refineries in Shandong region is around 950-1040 yuan/ton; The mainstream price of liquid sulfur ranges from 900 to 1130 yuan/ton.
Downstream market trends in the industrial chain
The downstream sulfuric acid market has significantly declined, with the daily average price of domestic sulfuric acid on January 5th at 252.50 yuan/ton, a decrease of 7.85% compared to the price of 274.00 yuan/ton on January 1st. The on-site equipment operates stably, the market supply is sufficient, and enterprises are actively shipping. However, downstream demand is sluggish, and the market trading atmosphere is bearish. Acid companies have poor shipments, forcing the price of sulfuric acid to be lowered. At the same time, raw material prices have fallen, and cost bearish effects have weakened the sulfuric acid market.
The downstream ammonium phosphate market is operating weakly, with an average market price of 55% powdered ammonium phosphate at 3303.33 yuan/ton on January 5th, a decrease of 1.98% compared to the price of 3370.00 yuan/ton on January 1st. The utilization rate of ammonium phosphate production capacity has decreased, and the market supply has decreased to some extent. However, downstream demand continues to be weak, with fewer market inquiries and weak on-site transactions. As a result, the sales pressure on enterprises has increased, and the price of ammonium phosphate has continued to decline.
Future Market Forecast
The sulfur analyst from Business Society believes that the sulfur plant on site is operating normally, the market supply of goods is stable, and with the continuous entry of port resources into the market, the pressure on sulfur sales is high. The terminal market transactions are flat, downstream demand is limited, and there is a lack of positive supply and demand. It is expected that the short-term sulfur market will continue to operate weakly, and specific attention will be paid to downstream follow-up in the future.
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