SunSirs: After the Holiday, the Sulfuric Acid Market Continued to Be Sluggish
May 10 2024 11:28:28 SunSirs (John)
Price trend
Since late April, the price of sulfuric acid had significantly declined. According to the Commodity Analysis System of SunSirs, the price of sulfuric acid dropped from 330 RMB/ton on April 20th to 247.5 RMB/ton on May 9th, a decrease of 25.3%, and the price increased by 17.86% year-on-year.
Analysis review
From the supply side, the holiday inventory had increased, and manufacturers had a greater willingness to ship, reducing inventory. The price of Zouping Tianlu sulfuric acid after the holiday was 260 RMB/ton, which was 40 RMB/ton lower than before the holiday; Changzhou Qinghong sulfuric acid was priced at 200 RMB/ton after the holiday, a decrease of 80 RMB/ton compared to before the holiday.
From the demand side, after the holiday, fertilizer companies had seen a decline in production, a decrease in demand for raw materials, and an overall decline in titanium ore, with a decrease of 100 RMB/ton compared to before the holiday. The titanium dioxide market is 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.
From a cost perspective, there was significant upward pressure. In late April, the sulfur market experienced a significant decline, with sulfur prices dropping nearly 5%. Although there was a slight increase in the market after the holiday, the overall increase was not significant, and support for sulfuric acid was limited.
Market outlook
In the future, the short-term sulfuric acid market is mainly sluggish, mainly due to insufficient demand and difficulty in digesting products. In the later stage, it depends on the production situation of terminal fertilizer enterprises.
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