SunSirs: In November, Domestic Market Price of Sulfur Went Down

　　Price trend

　　According to the price monitoring of SunSirs, on November 30, the average ex-factory price of sulfur in East China was 2,000.00 RMB/ton. Compared with the average ex-factory price of 2,213.33 RMB/ton at the beginning of the month, it was a decrease of 5.81% during the month and an increase of 109.06% year-on-year.

　　Analysis review

　　In November, the domestic sulfur market was dominated by consolidation, and the price trend fell sharply. During the month, domestic refineries in various regions maintained low inventory operations, downstream factories and traders purchased on demand, and corporate shipments were relatively smooth. Domestic sulfur manufacturers adjusted their quotations based on their own sales and the sulfur market was running on the sidelines. In terms of ports, spot resources were tight, and cargo holders were cautious.

　　The downstream sulfuric acid market continued to decline. During the month, mainstream sulfuric acid manufacturers in Shandong slightly lowered the price of sulfuric acid. The inventories of the manufacturers were small, and the downstream purchasing enthusiasm was average. The market was weakly down due to weak supply and demand.

　　In terms of phosphate fertilizer, the winter storage market was progressing slowly. In November, the market for ammonium biphosphate and DAP was weak, the market demand was general and the trading atmosphere on the market was weak. DAP companies maintained their pre-orders and prices were stable, the price trend of ammonium biphosphate declined, which provided weak support for sulfur.

　　Market outlook

　　Sulfur analysts of SunSirs believe that the domestic sulfur price market is weak. Although the current domestic refinery inventories are still low and the company’s shipments are smooth, the phosphate fertilizer market demand is weak and the support for sulfur from end consumption is not enough. It is expected that the sulfur market will wait-and-see and sort out, with specific attention to market transactions.