Price trend
According to the data monitoring of SunSirs, the average ex factory price of sulfur market in East China is 676.67 RMB/ton, up 7.98% month on month. On November 13, the sulfur commodity index was 37.13, unchanged from November 14, down 64.24% from 103.84 (2011-11-02), the highest point in the cycle, and up 16.69% from 31.82, the lowest point on October 7, 2019. (Note: cycle refers to 2011-09-01 to now)
Analysis review
Product: Domestic sulfur market is weak, downstream demand is weak, terminal purchasing enthusiasm is weak, there is no news on the outside market, port inventory is not reduced but continues to increase, and the industry is bearish on the future market. At present, the mainstream price of solid sulfur in East China market is about 570-710 RMB/ton, and the mainstream price of liquid sulfur is about 520-680 RMB/ton; the mainstream price of solid sulfur in Shandong market is about 730 RMB/ton, and the mainstream price of liquid sulfur is about 520-600 RMB/ton; the mainstream price of solid sulfur in North China market is 590 RMB/ton, and the mainstream price of liquid sulfur is 520-600 RMB/ton.
Industry chain: The downstream sulfuric acid market is quiet, most of the acid enterprises are mainly stable prices, and the market price in Shandong is stable. The contradiction between supply and demand on the market remains the same, the supply is strong and demand is weak, the acid market is flat and stable, the industry's mentality is not good, and the individual acid enterprises are shut down for maintenance. The market has good news support, and the price is expected to be stable. The market's favorable news support is limited, and the price is expected to be stable.
Industry: From the perspective of demand, the performance of supply and demand is weak, and negotiations are deadlocked. Port stocks increased while consumption was slow, market transactions remained deserted, and on-demand purchases are dominated, buyers and sellers are waiting for news guidance. The domestic sulfur market was weakly consolidated, and downstream demand did not improve. The industry’s bearish sentiment on the market outlook was aggravated.
Market outlook
Sulfur analysts of SunSirs believe that the current sulfur market lacks news support, no substantial positive factors, and no substantial improvement in demand. It is expected that the sulfur market will continue to be weak in short term.
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