Weak supply and demand continue, and sulfur market is consolidated weakly

I. price trend


According to the price monitoring of the business agency, the average ex factory price of sulfur market in East China is 676.67 yuan / ton, up 7.98% month on month. On November 13, the sulfur commodity index was 37.13, unchanged from yesterday, down 64.24% from 103.84 (2011-11-02), the highest point in the cycle, and up 16.69% from 31.82, the lowest point on October 7, 2019. (Note: cycle refers to 2011-09-01 to now)


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II. Market analysis


Products: weak domestic sulfur market consolidation, weak downstream demand, weak enthusiasm of terminal market entry procurement, no news on the outside market, port inventory continued to increase instead of decreasing, and the industry was bearish on the future market. At present, the mainstream price of solid sulfur in East China market is about 570-710 yuan / ton, and the mainstream price of liquid sulfur is about 520-680 yuan / ton; the mainstream price of solid sulfur in Shandong market is about 730 yuan / ton, and the mainstream price of liquid sulfur is about 520-600 yuan / ton; the mainstream price of solid sulfur in North China market is 590 yuan / ton, and the mainstream price of liquid sulfur is 520-600 yuan / ton.


Industry chain: the downstream sulfuric acid market is quiet, the price of acid enterprises is mainly stable, and the market price trend in Shandong is stable. The contradiction between supply and demand in the site remains the same, with strong supply and weak demand, weak and stable trading in acid market, poor mentality of the industry, and parking maintenance of individual acid enterprises, limited support for good news in the market, and expected price stability.


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Industry: from the perspective of demand, the supply and demand performance is weak, and the negotiation is stagnant. Port inventory increases, consumption is slow, market trading is still cold, on-demand procurement based, both sides wait for information guidance. Weak domestic sulfur market consolidation, downstream demand has not improved, and the bearish sentiment of the industry on the future market has increased.


III. future forecast


According to the sulfur analysts of the business society, at present, the sulfur market lacks news support, has no substantial positive factors, and there is no substantial change in demand. It is expected that the short-term sulfur market will continue to be weak.

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