Price trend

According to the price monitoring of SunSirs, the sulfur price trend in September was stable first and then rose, and the market was consolidated and upward. As of September 30, the average ex factory price of sulfur market in East China was 1,486.67 RMB/ton, an increase of 27.79% compared with the average ex factory price of 1,163.33 RMB/ton at the beginning of the month.

Analysis review

In September, the domestic sulfur market was on the sidelines and consolidating. In the middle and first ten days of September, the price trend was stable, the decline of sulfuric acid in the downstream was weakened, and the support of sulfur market demand was fair. The overall benefit was limited. During this period, the sulfur market did not fluctuate much. The price of sulfur rose sharply in late September, mainly because the National Day holiday was approaching, the enthusiasm of downstream replenishment increased, the enterprise shipped smoothly, and the enterprise quotation rose. In addition, the port sulfur inventory was tight, the market supply of low price goods was limited, and the mentality of the cargo holders was firm, which gave the market some support. The sulfur market continued to rise at the end of the month.

The downstream sulfuric acid market fell first and then rose in September. The market price of sulfuric acid at the beginning of the month was 252 RMB/ton, and at the end of the month was 296 RMB/ton, with an overall increase of 17.46%. In the month, domestic sulfuric acid was mainly operated through consolidation. The on-site operating rate was lower than that of the previous month, the inventory pressure was weakened, the downstream was actively stocking up before the festival, and the enthusiasm for purchasing into the market was increased. The atmosphere of transactions in the market was good, the enterprise shipped smoothly, the quotation was raised, and the focus of the sulfuric acid market was moved up.

In the aspect of ammonium phosphate, the market was consolidated in September. The price of ammonium biphosphate declined as a whole. The downstream demand was not good in the first ten days of September, and the price declined. The price of raw materials rose in the middle and last ten days of September. The cost support was good, and the market price rose slightly. The DAP market fell first and then rose. The overall price fell. In the first half of the month, the downstream demand for DAP was insufficient. In order to digest the inventory, the holders lowered the price one after another. The market was weak. In the second half of the month, DAP finished and operated in a volatile manner, with good market trading and investment. Downstream purchases were made on demand, new orders increased, and prices fluctuated in a narrow range.

Market outlook

The sulfur analysts of SunSirs believe that the main players in the sulfur market, the port inventory was tight, the attitude of the shippers was firm, and the attitude of supporting the market was obvious. The domestic sulfur refineries were smooth in shipping, the quotation had been continuously raised, and the industry was optimistic. However, in the long run, downstream demand is limited, and the price may fluctuate slightly. It is expected that the sulfur price will be sorted up in the short term, and specific attention will be paid to the market follow-up.

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