Price trend
According to the Commodity Market Analysis System of Business Society, the sulfur price trend in East China fell first and then rose this week. On May 31st, the sulfur price was 1056.67 yuan/ton, which is a 0.31% overall decrease compared to the sulfur price of 1060.00 yuan/ton on May 25th.
This week, the sulfur market is weak and consolidating. The downstream sulfuric acid market is weak, the market is not operating high, the demand for sulfur is limited, refinery shipments are poor, and sulfur prices continue to decline weakly. In the later stage, there will be refinery equipment maintenance in Shandong region, and the supply of market goods has decreased. The willingness of operators to increase prices has increased, and some refineries have slightly increased their prices based on their own inventory situation. However, during the off-season of downstream demand, there is insufficient support for good sulfur, and the overall market trend is still weak. As of the 31st, the mainstream price of solid sulfur in refineries in Shandong region is between 1050-1070 yuan/ton; The mainstream price of liquid sulfur is between 1000-1110 yuan/ton.
Downstream market trends in the industrial chain
The downstream sulfuric acid market is operating weakly and steadily, with an average domestic sulfuric acid price of 247.50 yuan/ton on May 31, which is unchanged from the price of 247.50 yuan/ton on May 25. The domestic sulfuric acid market is mainly stable, with low production and low enterprise inventory. However, downstream demand is weak, and market trading is not good, which to some extent suppresses the rise of sulfuric acid prices. There is a clear supply-demand game on the market, and the sulfuric acid price trend is temporarily stable.
The downstream market for ammonium phosphate showed a strong upward trend, with an average market price of 55% powdered ammonium phosphate at 3150.00 yuan/ton on May 31, an increase of 3.05% compared to the price of 3056.67 yuan/ton on May 25. The demand for ammonium phosphate summer fertilizer market is strong, with a large amount of factories waiting to be shipped. Manufacturers are in a tight supply situation, and most of them are suspending orders and executing orders waiting to be shipped. The market demand is improving, and at the same time, the raw material phosphate ore market is strong, with stable cost support. The price of ammonium phosphate continues to rise.
Future Market Forecast
According to sulfur analysts from Business Society, the supply pressure in the sulfur market has weakened to some extent, and some refineries have increased their willingness to increase prices. However, downstream demand for sulfuric acid is sluggish, and on-site trading is weak. Although the phosphate fertilizer market is improving, the transmission support for upstream sulfur costs is limited. In addition, the upstream and downstream are affected by buying up but not falling sentiment. Under the supply-demand game, it is expected that the sulfur market will observe and consolidate in the short term, with prices stabilizing slightly. Specific attention will be paid to downstream follow-up.
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