Price trend
According to the Commodity Market Analysis System of Business Society, sulfur prices in East China fluctuated and fell this week (5.20-5.24). On May 24th, sulfur prices were at 1060.00 yuan/ton, a decrease of 2.45% compared to 1086.67 yuan/ton on May 20th.
This week’s sulfur market is generally weak. The operation of refinery facilities in Shandong region is normal, with sufficient market supply and insufficient new orders in the terminal market. Downstream procurement enthusiasm is average, and the market trading atmosphere is weak. The shipment of sulfur refineries is hindered, and the decline in external sulfur prices has a negative impact on the domestic sulfur market. Some enterprises have continued to lower their purchasing prices to stimulate procurement. As of the 24th, the mainstream price of solid sulfur in refineries in Shandong region is around 1050 yuan/ton; The mainstream price of liquid sulfur is between 1000-1170 yuan/ton.
Downstream market trends in the industrial chain
The downstream sulfuric acid market is operating weakly and steadily. On May 24th, the average domestic sulfuric acid price was 242.50 yuan/ton, which is unchanged from the price of 242.50 yuan/ton on May 20th. The domestic sulfuric acid market has remained stable with little movement, and the downstream compound fertilizer industry has average demand. The intention to purchase sulfuric acid is not high, and the demand for immediate follow-up is mainly high. Acid companies have poor shipments, but in some areas, equipment maintenance and low inventory have provided some support for sulfuric acid prices. Under the game of supply and demand, the sulfuric acid market is consolidating at a low level.
The downstream market for monoammonium phosphate showed a strong upward trend, with an average market price of 55% powdered monoammonium on May 24th at 3056.67 yuan/ton, an increase of 2.56% compared to the price of 2983.33 yuan/ton on May 20th. The demand for ammonium phosphate summer fertilizer market has increased, and the market supply is tight. Many manufacturers have suspended orders and mainly executed pending orders. Market demand is improving, and the price of ammonium phosphate continues to rise.
Future Market Forecast
According to sulfur analysts from Business Society, the current supply of sulfur in the market is stable, and the downstream phosphate fertilizer market is good. The increase in plant operation may improve the demand for sulfur, but at the same time, port inventory will also affect domestic sulfur procurement to a certain extent. The external price is low, and the rise of sulfur in refineries is limited. The mentality of on-site operators is conflicted, and it is expected that the short-term decline in sulfur prices will narrow. The market situation will remain stagnant and consolidated, and specific attention will be paid to downstream follow-up.
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