SunSirs: Bromine Prices Were Upward This Week (January 10-17)
According to the data monitoring of SunSirs’ bulk list, the price of bromine rose slightly this week. The average market price at the beginning of the week was 54,142.86 RMB/ton, and the average market price on January 17 was 54,857.14 RMB/ton, up 1.32%.
On January 17, the bromine commodity index was 192.48, an increase of 1 point from previous day, a decrease of 21.49% from the highest point in the cycle of 245.18 points (2021-10-27), and an increase of 226.68%e from the lowest point of 58.92 points on October 29, 2014. (Note: The cycle refers to 2011-09-01 to the present)
Analysis review
At present, the domestic bromine price has risen slightly. The current mainstream price of Shandong enterprises is about 53,000-58,000 RMB/ton. The main reason for the increase in bromine prices is that bromine companies are reluctant to sell when the Spring Festival is approaching, and there is a psychological price increase. However, the main downstream flame retardant industry is still not very motivated to purchase, and is resistant to high-priced bromine. However, because the Spring Festival is approaching, there is a replenishment demand for downstream. And the inventory of bromine companies is low, so there is no rush to ship.
In terms of raw materials: the price of sulfur rose this week. The average market price at the beginning of the week was about 2,060 RMB/ton, and the average market price at the weekend was 2,096.67 RMB/ton, up 1.78% and 108.97% over the same period last year. There was no inventory pressure in domestic refineries, downstream sulfuric acid purchased sulfur on demand in the market, the liquid sulfur market demand was weak, and the price was adjusted slightly; the demand for sulfur in downstream phosphate fertilizers increased, and the company’s shipments were smooth, the good progress of the winter fertilizer storage market promoted the rise of solid sulfur prices.
Market outlook
The analyst of SunSirs believes that the price of bromine is rising, but the downstream flame retardant and intermediate industries of bromine are resistant to high-priced bromine, and more purchases are based on demand. As the Spring Festival is approaching, the quotations of bromine companies are firm, but with the import of bromine to the port in the late of this month, it is generally expected that the short-term bromine price will be mainly consolidated, depending on the downstream market demand.