Price trend

According to the Commodity Market Analysis System of SunSirs, the sulfur price trend in East China continued to rise in August, with a strong upward trend in the market. On August 31st, the average ex factory price of sulfur in the East China region was 1,110.00 RMB/ton, an increase of 30.08% compared to the average ex factory price of 853.33 RMB/ton at the beginning of the month.

Analysis review

During the month, the sulfur market in the East China region operated strongly, with a significant increase in price. The main reason was that the terminal phosphate fertilizer industry had strong demand, high procurement enthusiasm, downstream operating rates increased, and demand for sulfur increased. The sulfur market had good trading, refinery shipments were smooth, the inventory was low, and manufacturer quotations were higher. While downstream demand was steadily following up, boosting the market atmosphere, and under the influence of buying sentiment, the sulfur market continued to rise.

The downstream sulfuric acid market rose significantly in August, with a market price of 160.00 RMB/ton at the beginning of the month and 294.00 RMB/ton at the end of the month, an increase of 83.75% within the month. The operation of domestic mainstream sulfuric acid manufacturers supported, with stable market supply, downstream product started at high levels, and demand support was good. In addition, with good foreign demand, the sulfuric acid market had a positive trading attitude, and the industry had a positive attitude, the sulfuric acid prices were significantly upward.

The market of ammonium biphosphate rose significantly in August, with active stocking in the terminal industry. There were sufficient orders for ammonium biphosphate, and most manufacturers suspended their quotations. Cost support was positive, and downstream demand continued to follow. The market mentality was optimistic, and the focus of ammonium biphosphate transactions continued to shift upward. As of August 31, the average market price of 55% powder ammonium biphosphate was 3,000.00 RMB/ton, compared to the average price of 2,633.00 RMB/ton on August 1st, the price increased by 13.92%.

Market outlook

According to sulfur analysts from SunSirs, the sulfur plant was operating normally, with no inventory pressure from manufacturers. There were sufficient downstream orders on the demand side, and the operating rat continued to be high. The downstream market continued to be bullish, and the operators had a positive attitude. The sulfur refinery was actively shipping. Supported by positive demand, it is expected that the sulfur market may continue to be stronger in the future, and the upward trend will slightly slow down. Specifically, it depends on the downstream acceptance of high prices.

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