1、 Price trend
According to the price monitoring of the business agency, the average ex factory price of sulfur market in East China this weekend was 646.67 yuan / ton, up 7.18% compared with the average ex factory price of 603.33 yuan / ton at the beginning of the week, down 43.44% compared with last year.
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2、 Market analysis
Product: this week, the domestic sulfur market negotiation atmosphere was slightly quiet. In terms of external market, the official price of UAE continued to rise in March, the external market was short of spot supply, and the offer in Hong Kong was high and stable. This week, the sulfur price continued to rise, and the lower reaches of the market purchase enthusiasm weakened and mainly on demand. The buyer and the seller intend to keep the price difference, and the on-site trading and investment are mostly stuck on the sidelines. The refinery shipments in various regions are relatively stable. In addition to the stable price operation of individual refineries, refineries in each region will adjust the quotation according to their own shipping situation within the week. As of December 13, Sinopec’s quotation for solid sulfur in East China is 610-710 yuan / ton, and that for liquid sulfur is 490-600 yuan / ton; Sinopec’s quotation for solid sulfur in North China is 530-570 yuan / ton, and that for liquid sulfur is 410-450 yuan / ton; Sinopec’s quotation for solid sulfur in Shandong is 640-650 yuan / ton, and that for liquid sulfur is 430-480 yuan / ton.
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Industrial chain: the downstream sulfuric acid market is stable and weak. The supply of smelting acid in Shandong is sufficient, the stock of acid enterprises is high, the demand is weak, and the pressure release is slow. In addition, the start-up load of some sulfur and acid enterprises increased, the supply of sulfonic acid increased, but the downstream follow-up was insufficient, and it could not be consumed quickly in a short period of time. In order to relieve the inventory pressure, the manufacturers continued to sell at a profit. Although Hubei phosphate fertilizer manufacturers started one after another, the surrounding acid plants generally have large inventory and fierce competition for resources. On the other hand, the downstream phosphate fertilizer demand is limited, the market supply is strong and weak, and the acid price rise is weak.
3、 Future forecast
According to the sulfur analyst of the business association, in terms of the current supply and demand performance, the port inventory is high, the refineries in various regions are mainly in stable operation, the downstream phosphate fertilizer supply is increased, the sulfur is purchased on demand, the market is not clear, and the negotiation between the buyer and the seller is deadlocked. It is expected that the sulfur market will be narrowed in the later stage, and the situation of the factories in the future will be seen specifically.
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