Price trend

According to the Commodity Market Analysis System of SunSirs, sulfur prices in East China had slightly increased this week. On February 4th, sulfur prices were at 940.00 RMB/ton, an increase of 0.71% compared to 933.33 RMB/ton on January 29th, and a decrease of 8.44% compared to the beginning of the month.

Analysis review

This week, the sulfur market had been consolidating and running. During the week, some refineries in Shandong region reduced production, resulting in a decrease in market supply of goods. Downstream main factories were able to prepare goods before the holiday, and manufacturers shipped smoothly. Refineries raised their prices slightly based on their own shipment situation. In terms of ports, the replenishment atmosphere of terminals and traders gradually weakened, weakening support for the spot market, and sulfur market prices remained stable with little movement. As of the 4th, the mainstream price of solid sulfur in refineries in Shandong region was around 930-970 RMB/ton; The mainstream price of liquid sulfur was between 920-1,000 RMB/ton.

Downstream market trends in the industrial chain

The downstream sulfuric acid market was operating weakly and steadily. On February 4th, the average domestic sulfuric acid price was 187.50 RMB/ton, which was the same as the price of 187.50 RMB/ton on January 29th. On site enterprises had stable production, sufficient market supply, and insufficient downstream demand. They followed up on stocking according to demand, while acid companies had average shipments. The mentality of manufacturers was deadlocked, and the short-term sulfuric acid market was wait-and-see.

The downstream ammonium biphosphate market was weak and declining. On February 4th, the average market price of 55% powdered ammonium biphosphate was 3,133.33 RMB/ton, a decrease of 2.19% compared to the price of 3,203.33 RMB/ton on January 29th. The supply of ammonium biphosphate in the market had contracted, but downstream demand had remained weak, with weak follow-up on new orders, insufficient market transactions, and significant sales pressure from manufacturers. As a result, the price of ammonium biphosphate continued to decline.

Market outlook

According to sulfur analysts from SunSirs, as the Spring Festival holiday approached and the market transaction atmosphere was mild, sulfur companies were actively shipping, while downstream stocking enthusiasm was average. It is expected that the short-term sulfur market will remain stable and operate on a wait-and-see basis, and specific attention should be paid to downstream follow-up.

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