Price trend
According to the data of SunSirs, the price of sulfur continued to decline in 2019. At the beginning of the year, the average ex factory price of sulfur in East China was 1,360 RMB/ton, and at the end of the year, the average ex factory price was 503.33 RMB/ton, a 62.99% drop in the year. At the end of the year, the price was also the lowest price in 2019, and the highest price in the year was 1,433.33 RMB/ton.
Analysis review
In the first stage: from the beginning of the year to the beginning of March, affected by the long Spring Festival holiday of traditional festivals and the overall downturn of downstream demand, production enterprises all over the country have different pressures on their shipments. In the downstream, due to the poor delivery of compound fertilizer enterprises and the reduced operating rate, the monoammonium market in the ammonium phosphate Market is generally weak, while the new export orders of the diammonium enterprises are slow in progress, stuck in finishing operation, and the demand for sulfur market is weak.
In the second stage: from the middle of March to may, monoammonium in the market of ammonium phosphate rose slightly, and the overall market of diammonium was stable. The buying intentions in the port market has recovered. The firmness of the external price makes the market more stable. The overall trend of the market is upward, and the domestic sulfur market as a whole presents a shock upward trend. However, in May, downstream demand declined, market support was limited, and the market began to fluctuate.
In the third stage: from June to early October, the price of sulphuric acid continued to decline. Strong supporting factors are hard to find, domestic demand is light and continuous, and merchants' negative wait-and-see mood, after a long period of stalemate and consolidation, the domestic sulfur Market can only move downward. The main reasons for the decline of the market are the decline of the external market price, the slow consumption of the port inventory, and the difficulty in boosting the downstream demand.
In the fourth stage: from the beginning of October to the end of the year, the general trend of domestic resources has declined, and the downstream demand in various regions has been weak to varying degrees. In the fourth stage, from the beginning of October to the end of the year, the general trend of domestic resources has declined, and the downstream demand in various regions has been weak to varying degrees. The domestic market has been impacted by port prices, and the pricing has been declining, and the downstream performance is mainly on demand. The port inventory is still high and low consumption, and there is no change. The market atmosphere is low, and the market continues to decline.
Market outlook
According to the sulfur analyst of the business association, the current situation of high port inventory hasn't changed, the downstream demand is weak, the factory purchases on demand and small orders, and there is no substantive good guidance on supply and demand. In addition, the internal and external support is weak, and most of the operators are cautious and wait-and-see. It is expected that the sulfur market will be reorganized and operated in the later stage, depending on the plant conditions in the later stage.
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