Price trend
According to the Commodity Analysis System of SunSirs, the domestic furfural (national standard, industrial grade, 250KG/barrel) market fluctuated and declined this week. As of May 11th, the average quoted price of furfural was 9,575.00 RMB/ton (including tax), a decrease of 0.78% from May 1st's 9,650.00 RMB/ton.
Analysis review
Cost side:
Cost side: As of May 11th, the main production of furfural in China was corn cobs, and sulfuric acid was generally used as the catalyst. The domestic sulfuric acid market prices had fallen this week. According to monitoring data from SunSirs, the average price of sulfuric acid in China was 272.5 RMB/ton on May 1st, and 247.5 RMB/ton on May 11th, indicating a decrease in price. After the holiday, fertilizer companies had seen a decline in production, leading to a decrease in demand for raw materials. As a result, titanium ore had overall declined, with a decrease of 100 RMB/ton compared to before the holiday, and the market for titanium dioxide was sluggish. From the perspective of the chemical industry, post holiday products had seen more declines and less increases, with an overall sluggish market. There was poor demand for raw materials, with primary demand for essential goods and insufficient market transactions.
On the demand side, the domestic furfuryl alcohol (national standard, industrial grade, 250KG/barrel) market had declined this week. As of May 11th, the average quoted price of furfuryl alcohol was 1,0175.00 RMB/ton (including tax), an increase of 0.49% from May 1st's 1,0125.00 RMB/ton.
Market outlook
According to Furfural Products analysts from SunSirs, the upstream sulfuric acid market for furfural continued to decline, while the downstream furfural alcohol market fluctuated slightly. Furfural support was limited, and it is expected that furfural may be weak in the near future.
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