Price trend
According to monitoring data from SunSirs, the price of bromine was weak this week. The average market price at the beginning of the week was 28,000 RMB/ton, while the average market price at the weekend was 26,000 RMB/ton. The price fell 7.14%, and down 53.43% year-on-year.
The bromine commodity index on March 16 was 91.23 points, down 1.4 points from the previous day, down 62.79% from the cycle's highest point of 245.18 points (2021-10-27), and up 54.84% from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to 2011-09-01 to now)
Analysis review
This week, the overall bromine price continued to be weak. In Shandong Province, the price of bromine was down under pressure, and the downstream flame retardant and intermediate industries had not seen significant increases in recent operating rates. Demand was clearly bleak, and shipments from bromine companies were still sluggish. The production of bromine was sufficient, and the industry was pessimistic. The manufacturers of bromine and downstream flame retardants intended to stabilize their prices, and the price was gradually stabilizing.
In terms of raw materials: The domestic sulfur price was weak this week, with an average market price of 1,222.33 RMB/ton at the beginning of the week and 1,213.33 RMB/ton at the end of the week. The price fell 0.82%, and down 61.07% year-on-year. As of the 17th day, the sulfur market had been sorted out, production of manufacturers was stable. Downstream entered into the market and followed up as needed. Sulfur enterprises had actively shipped, and refineries had adjusted their quotations based on their own shipment conditions.
Market outlook
Analysts from SunSirs believe that the price of bromine had been weak recently, and the price of sulfur in the upstream declined. The demand of downstream flame retardants and intermediates in the bromine industry was slow to follow up. The supply of bromine was sufficient, the supply and demand gamed, and there was no positive support. Overall, it is expected that the bromine price will be weak and consolidated in the short term, depending on the downstream market demand.
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