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 600.00 yuan / ton, down 4.26% compared with the average ex factory price of 626.67 yuan / ton at the beginning of the week, down 41.94% compared with last year.

2、 Market analysis

Product: this week, the domestic sulfur market was stagnant, the spot supply was tight and the price was on the high side, the port inventory was still high, the external market fell and the information was scarce, and the support in the port was limited. In this week, the enthusiasm of sulfur downstream plants to enter the market is not high and the intention price is low. With the decrease of demand for ammonium phosphate, the later stage of fertilizer export is not clear, the prediction of the future market is not clear, the factory is more wait-and-see mentality, and the refineries in each region will adjust the quotation according to their own shipping situation within the week. As of December 17, Sinopec’s quotation for solid sulfur in East China was 570-680 yuan / ton, while that for liquid sulfur was reduced by 30 yuan / ton and 510-600 yuan / ton; Sinopec’s quotation for North China was temporarily stable, with 530-570 yuan / ton for solid sulfur and 400-450 yuan / ton for liquid sulfur; Sinopec’s quotation for solid sulfur in East Shandong was reduced by 20-30 yuan / ton and 610-620 yuan / ton and 410-460 yuan / ton for liquid sulfur Yuan / ton.

Industrial chain: in terms of downstream sulfuric acid, the domestic market is obviously differentiated, and the price of sulfuric acid is up and down. The main sulfuric acid plant in Shandong Province was overhauled, the overall supply of sulfuric acid was relatively tight, and the enterprise was the main actor in the quotation. At present, the overhaul of acid enterprises is relatively concentrated, and the supply side is significantly reduced. The main downstream phosphate fertilizer enterprises are in the final stage, and the demand side is also weak. In addition, the cost end support is still weak, and the upward space of sulfuric acid market is limited. It is expected that the acid market will be operated in a narrow range in the later stage.

3、 Future forecast

According to sulfur analysts of the business association, at present, the demand for phosphate fertilizer is weakening, the export is not clear, the port inventory remains high, the low price shipping intention of the shippers is not high, and the attitude of the operators towards the future market is mainly stalemate. It is expected that the sulfur market will be light and stable in the later period, waiting for the guidance of market news.