Price trend

According to the price monitoring of SunSirs, the price trend of sulfur continued to rise in May, and the market was running strongly. As of May 31, the average ex-factory price of sulfur market in East China was 4,043.33 RMB/ton, compared with the average ex-factory price of 3,586.67 RMB/ton at the beginning of the month, an increase of 12.73% in the month.

Analysis review

In May, the domestic sulfur market was on the strong side, and the price continued to rise during the month. Domestic refineries were overhauled, and there was no pressure on corporate inventories. In the early stage, the rise in the downstream sulfuric acid market supported the increase in demand for liquid sulfur. In addition, the spot in the port was tight and the price was high, which supported the domestic solid sulfur price. The quotations of traders on the market continued to rise. At the end of the month, the downstream sulfuric acid market was weak, and the support for sulfur decreased. Shandong Regional logistics were limited, companies were difficult to deliver goods, and the price of sulfur was slightly lowered.

The price of downstream sulfuric acid rose first and then fell in May. The price at the beginning of the month was 1,133.33 RMB/ton, and the price at the end of the month was 1,168.33 RMB/ton, an overall increase of 35 RMB/ton, an increase of 3.31% in the month. During the month, the domestic mainstream sulfuric acid manufacturers produced low-load production, and the inventory was relatively small. The downstream purchases in the market declined compared with the previous month. The shipments of the enterprises were acceptable, and the quotations rose according to the trend, and the market was relatively strong during the month.

In terms of phosphate fertilizers, the market was stable and improved in May. The market price of ammonium biphosphate continued to rise. The number of enterprises to be released was sufficient, and the market was firm at a high level; the DAP market was adjusted at a high level, and the price trend rose slightly. The supply of DAP was tight, and downstream purchased on demand , the market trading was acceptable, traders operated cautiously. The demand of phosphate fertilizer enterprises was stable, and the ammonium phosphate market was generally upward.

Market outlook

Sulfur analysts of SunSirs believe that in terms of supply and demand, domestic refineries have no pressure on inventory, downstream demand is improving, and the market is in short supply. However, due to the impact of the epidemic, transportation is limited, and on-site trading has weakened. In the short term, the market outlook of Sulfur will wait and see, or there may be a rise. Please pay attention to the market transaction situation.

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