According to the Commodity Market Analysis System of Business Society, sulfur prices in East China continued to decline in May. On May 31st, the average ex factory price of sulfur in the East China region was 1056.67 yuan/ton, a decrease of 10.70% compared to the average ex factory price of 1183.33 yuan/ton at the beginning of the month.
This month, the sulfur market in East China has been weak and declining. The main reason is weak downstream demand and weak market trading, leading to a continuous decline in sulfur quotations. On the supply side, the sulfur unit on site is operating normally and the market supply of goods is stable; On the demand side, some of the main downstream factories have undergone maintenance, with low operating rates and limited demand for sulfur. The market trading atmosphere is not good, and the shipment of sulfur refineries is limited. In order to stimulate purchasing enterprises to continuously lower their prices, the trend of sulfur continues to be weak due to the sentiment of buying up but not falling down.
The downstream sulfuric acid market stabilized at a low level in May, with a market price of 272.50 yuan/ton at the beginning of the month and 247.50 yuan/ton on May 31, a decrease of 9.17% during the month. The inventory of goods during the May Day holiday has increased, and manufacturers have a strong intention to arrange inventory after the holiday. Manufacturers have lowered their prices to stimulate shipments; In the middle and late half of the year, there was a shortage of new orders in the downstream compound fertilizer industry, limited support for sulfuric acid demand, and poor shipments from acid companies. During this period, some regions experienced a slight increase in sulfuric acid prices due to equipment maintenance and low inventory levels, but there was a clear supply-demand game on the market, and the sulfuric acid market was consolidating at a low level.
The market for ammonium phosphate rose strongly in May, and its price continued to rise due to favorable factors such as cost support, tight supply, and increased demand. Manufacturers often suspend or restrict orders, with a focus on early orders and a high volume of pending orders. As of May 31st, the average market price of 55% powdered ammonium was 3150 yuan/ton, an increase of 10.40% compared to the average price of 2853 yuan/ton on May 1st.
In the future market forecast, sulfur analysts from Business Society believe that the supply of goods in the sulfur market is stable, and the downstream phosphate fertilizer market is improving. The increase in the operation of ammonium phosphate plants may provide support for the transmission of upstream sulfur costs. At the same time, sulfur prices have experienced a significant decline in the early stage, and operators are interested in exploring an increase. It is expected that the sulfur market will consolidate and rise in June.
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