Price trend
According to the Commodity Market Analysis System of SunSirs, the sulfur price trend in East China continued to decline this week. On April 30th, the average sulfur price was 720.00 RMB/ton, a decrease of 2.70% compared to the price of 740.00 RMB/ton on April 24th, and a decrease of 32.50% compared to the beginning of the month.
Analysis review
The sulfur market in East China has fluctuated and decreased. During the week, the refinery equipment operated smoothly, the market supply of goods was stable, downstream demand was weak, the end market consumption was in off-season, on-site trading was average, and the operator's mentality was pessimistic. The refinery lowered its quotation to stimulate shipments, resulting in a decrease in sulfur prices within the week. As of the 30th, the mainstream price of solid sulfur in refineries in Shandong Province was around 750 RMB/ton; The mainstream price of liquid sulfur was between 640-800 RMB/ton.
Downstream market of the industrial chain
The downstream sulfuric acid market had significantly decreased. As of June 30th, the average price of domestic sulfuric acid was 218.33 RMB/ton, a decrease of 7.09% compared to Monday's price of 235.00 RMB/ton. The sulfuric acid plant was operating normally, the market supply was sufficient and downstream demand was weak. The main enterprises focused on digesting inventory, and followed up on demand when picking up goods on site. The quotation of sulfuric acid manufacturers was lowered to stimulate shipments, resulting in a weak and downward trend in the sulfuric acid market.
The market of ammonium biphosphate went down. On April 30, the market average price of 55% powdered ammonium biphosphate was 3,037.50 RMB/ton. On April 24, the market average price of 55% powdered ammonium biphosphate was 3,086.00 RMB/ton. The market price of ammonium biphosphate dropped 1.57%. Downstream demand was sluggish, there were few new orders in the market, and sporadic purchases were mainly in demand. The focus of market transactions had shifted downwards, and the ammonium biphosphate market was operating in a weak position
Market outlook
SunSirs sulfur analysts believe that the domestic sulfur market had sufficient supply of goods. The trading volume in the terminal industry was sluggish, downstream demand was weak, market supply exceeded demand, and there was a lack of positive news on the market. It is expected that the sulfur market will be weak in the future, and specific attention should be paid to downstream follow-up.
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