According to the monitoring data of SunSirs, the price of bromine rose this week. At the beginning of the week, the average market price of bromine was 46,400 RMB/ton, and at the weekend, the average market price was 48,200 RMB/ton. The price rose 3.88%, and down 30.65% year on year.
On October 20, the bromine commodity index was 164.21, unchanged from the previous day, 33.02% lower than the cycle's highest point of 245.18 points (2021-10-27), and 178.70% higher than the lowest point of 58.92 points on October 29, 2014. (Note: Period refers to 2011-09-01 to now)
Analysis review
Bromine prices rose this week, and those of major manufacturers in Shandong rose. Most bromine enterprises were reluctant to sell and intentionally drove up prices. However, the downstream flame retardant and intermediate industries were lack of support recently. Supply and demand gamed, bromine mainstream transaction price rose. However, the market transactions were still mainly based on just needed procurement.
In terms of raw materials, the domestic sulfur price fell this week. The average market price at the beginning of the week was 1,510 RMB/ton, and the average market price at the weekend was 1,433.33 RMB/ton. The price fell 5.08%, and 31.2% year-on-year. The downstream sulfuric acid market operated stably, the supply and demand in the market were relatively balanced, and the enterprise quotation was temporarily stable. Ammonium biphosphate market was mainly stable, fertilizer use in autumn was nearing the end, market turnover was weak, overall downstream demand as weak, and support for the sulfur market was insufficient. The shipment of sulfur refinery in Shandong was poor, and the enterprise lowered the quotation according to its own shipment situation.
Market outlook
According to the analysts of SunSirs, the price of bromine rose recently, and the downstream flame retardant and intermediate industries of bromine had average support for bromine recently. The supply and demand sides were playing a game, bromine enterprises were reluctant to sell, and the rising atmosphere was lingering. It is comprehensively predicted that the bromine price will continue to operate well in the short term, depending on the downstream market demand.
