Price trend

According to the Commodity Market Analysis System of Business Society, sulfur prices in East China continued to rise in mid November. On November 20th, sulfur prices were at 1050 yuan/ton, an increase of 8.25% compared to 970 yuan/ton on November 11th, and an increase of 11.31% compared to the beginning of the month.

During the cycle, the sulfur market in East China was relatively strong and upward, mainly due to the increase in the construction of the terminal phosphate fertilizer market, and the increasing purchasing enthusiasm of downstream factories and traders. In addition, the operation of refinery units was weak, and the supply of goods was not sufficient. The downstream procurement atmosphere was good, and manufacturers’ shipments were smooth. The refinery quotation was firm and upward. As of the 20th, the mainstream price of solid sulfur in Shandong refineries was around 1050-1080 yuan/ton; The mainstream price of liquid sulfur ranges from 1020 to 1150 yuan/ton.

Downstream market of the industrial chain

Downstream sulfuric acid prices rose significantly in mid November, with an average domestic sulfuric acid price of 298 yuan/ton on November 20th, an increase of 10.37% compared to the price of 270 yuan/ton on November 11th. The maintenance of some enterprise equipment on site has led to a tightening of sulfuric acid supply, active procurement in the fertilizer industry, good demand performance, smooth shipment by acid companies, and a significant increase in the focus of transactions in the sulfuric acid market.

In mid November, the high level of monoammonium phosphate market remained stable, and the average market price of 55% powdered monoammonium phosphate remained at 3466 yuan/ton during the cycle. The winter storage market follows up as needed, and the monoammonium phosphate factory executes pre received orders. The enterprise has sufficient waiting orders, and the prices of raw material phosphate ore and sulfur have increased. Cost support is good, and the monoammonium phosphate market is operating at a high price.

Future Market Forecast

Business Society sulfur analysts believe that the operation of sulfur refining plants is normal, there is no pressure on market supply, downstream purchasing is active, and demand support is positive. Manufacturers have an optimistic attitude and maintain active shipments. It is expected that the sulfur market will narrow down and rise in the future, and specific attention will be paid to downstream follow-up in the future.