Price trend

According to the Commodity Market Analysis System of Business Society, the price trend of sulfur in East China this week first rose and then fell. On May 19th, the average price of sulfur was 786.67 yuan/ton, an increase of 3.06% compared to the price of 763.33 yuan/ton on May 13th, and an increase of 9.26% compared to the beginning of the month.

The sulfur market in the East China region is relatively strong and organized. At the beginning of the week, due to the maintenance of some refinery units, the supply of goods decreased, manufacturers actively shipped, and the market mentality was bullish. In addition, downstream procurement was good, and the sulfur quotation continued to rise. Later, downstream procurement returned to rationality. Just after entering the market, follow-up was needed. Refineries mainly shipped at stable prices, while some enterprises had poor shipments. The sulfur quotation was slightly reduced, and the overall sulfur price rose during the week. As of the 19th, the mainstream price of solid sulfur in refineries in Shandong Province was around 810-830 yuan/ton; The mainstream price of liquid sulfur is between 720-830 yuan/ton.

Downstream market of the industrial chain

The downstream sulfuric acid market remained stable and declining, with the average domestic sulfuric acid price at 192.00 yuan/ton as of June 19th, a decrease of 2.04% compared to last Friday’s price of 196.00 yuan/ton. The sulfuric acid plant is operating normally, the market supply is stable, and downstream demand is sluggish. There are few new orders and transactions in the market, and the on-site pickup follows up on demand. The operator has a wait-and-see mentality, and the sulfuric acid manufacturer reports to follow up on their own inventory and shipment situation to adjust the quotation. The sulfuric acid market is operating in a consolidated manner.

The market of monoammonium phosphate is weak and downward. On May 19, 55% of the market average price of powdered monoammonium phosphate was 2832.50 yuan/ton. On May 13, 55% of the market average price of powdered monoammonium phosphate was 2887.50 yuan/ton. The market price of monoammonium phosphate dropped 1.90%. In the off-season of downstream consumption, demand performance is sluggish, with few new orders and transactions in the market. Sporadic purchases are mainly in demand, with a pessimistic attitude on the market and a weak performance in the monoammonium market.

Future Market Forecast

Business Society sulfur analysts believe that the domestic sulfur market has stable supply, with refineries actively shipping and end industry consumption in the off-season. Downstream entry into the market mainly follows demand, and some sulfur manufacturers adjust their prices slightly based on their own shipment situation. In the long run, downstream support is weak, and there is a game between supply and demand on the market. It is expected that the short-term sulfur market will remain stagnant and the price or range will fluctuate. Specific attention will be paid to downstream follow-up.