1、 Price trend

According to the sample data monitored by the business agency, as of March 18, the average price of domestic BDO market was 9760 yuan / ton, with a 1.91% month on month drop in price and a 7.77% year-on-year increase.

2、 Market analysis

Products: the domestic BDO market is in a stalemate. The factory’s starting load is low, but the inventory pressure is high. Some manufacturers are still willing to ship at a low price. The downstream construction is limited, the demand recovery is slow, the market entry conflicts with the high price, and the focus of on-site single negotiation is slightly down.

In terms of market, BDO market in North China has a lower focus, limited on-site favorable support, weak downstream demand, increased market entry prudence, small order inquiry for some of the on-site memory, and relatively cold negotiation atmosphere for large orders. The BDO market in East China is weak, the downstream construction is limited, and the enthusiasm for entering the market is weak. The enterprise inventory is still difficult to digest, some manufacturers continue to let the interest shipping intention, and the focus of on-site actual single negotiation is slightly lower. The BDO market in South China is weak, the plant load is low, and the intention to support the market is still there. However, the downstream construction is limited, the market entry depresses the high price, and the focus of spot market negotiation is slightly weak.

Industrial chain: in terms of raw materials, methanol and domestic methanol market as a whole maintained a weak trend, and prices in some regions continued to decline. In terms of the mainland market, the demand side is light, the supply-demand contradiction is dependent on each other, and the new price decline in the northwest is conducted, which leads to a continued decline in some parts of the mainland. In terms of port market, the narrow amplitude is mainly fluctuating, and the overall amplitude is not large. It is reported that the basis is slightly stronger, and the short-term market trends such as crude oil still need to be paid attention to.

Calcium carbide: the calcium carbide Market in Inner Mongolia fluctuates, and the main factory price of the local first-class calcium carbide is about 2700-2850 yuan / ton. The plant of the local manufacturer is generally started, and the downstream reception is acceptable. Based on the overall analysis, it is predicted that the short-term market price will fluctuate in a narrow range.

3、 Future forecast

On the positive side, the manufacturer’s offer is firm, and the factory starts at a low level. On the negative side, the downstream demand is weak, and the negative mood is obvious. BDO analysts predict that the short-term domestic BDO market will focus on narrow range consolidation, focusing on downstream commencement and actual single transaction.

1、 Trend analysis

As shown in the figure above, on the 18th, the spot copper price was 41395 yuan / ton, down 1.62% compared with the previous day’s quotation, down 17.32% year on year. Shanghai copper’s main contracts fell sharply, with a drop of 6.26% to 39960 yuan.

2、 Market analysis

In the afternoon, the hedge funds under chuanqiao water were redeemed in large quantities after a sharp fall, which caused further panic in the market due to the doubt of liquidity. In the afternoon, the market pessimism rose sharply. Shanghai copper fell to the limit in a straight line, and Luntong also fell below the $5000 threshold. LME copper inventory increased by 40600 tons to 220325 tons. Goldman Sachs lowered its average copper price forecast for the next three months to $4900 from $5900 per ton, while Standard Chartered Bank forecast an average copper price of $5420 per ton in the second quarter. According to the National Bureau of statistics, China’s refined copper output rose 2.8% to 1.527 million tons from a year earlier. Downstream consumption is still weak, and overall market trading is weak.

3、 Future prospects

Based on the above situation, copper analysts of the non ferrous branch of the business society think that: the macro expectation is poor, the inventory is accumulated, and the short-term copper price is still weak.

The TDI commodity index on March 17 was 58.38, flat with yesterday’s record low in the cycle, down 76.46% from the highest of 248.02 on October 19, 2016. (Note: cycle refers to 2011-09-01 to now)

According to the data of the business club’s bulk list, on the 18th, the TDI market price in East China was 11033.33 yuan / ton, the market was weak, the downstream demand continued to be low, and the intention to take the goods was not good. Under the pressure of shipping, some enterprises made profits to ship, the actual transaction price was low, the overall downstream raw material inventory was too rich, the purchase and follow-up intention was particularly low, the market volume of trading was little heard, and the atmosphere was on the market The surrounding becomes more and more light. At present, the quotation of domestic goods with bills in East China is 10500-10700 yuan / ton, and that of Shanghai goods with bills is 10800-11000 yuan / ton. In terms of toluene, compared with the previous trading day, Sinopec’s South China enterprises today lowered the price of toluene by about 100 yuan / ton. The listing price of Shandong refining enterprises fell today, and the quotation of traders in East China fell. Affected by health concerns, the international crude oil market continued to fall last night, and the price of toluene in the domestic market also fell.

According to the analysis of the data division of the business club: at present, the atmosphere in the market tends to be cold, the downstream inventory is high, the demand continues to be low, the intention to take the goods is not good, the pressure of the enterprise’s shipment is large, the downstream market is less, and the transaction volume is insufficient. It is expected that the trend of domestic TDI market in the later stage is hard to be optimistic, and the company will pay close attention to the policy guidance of the later stage of the plant and the actual trading situation of the market.

1、 Price trend

On March 17, NBR commodity index was 70.64, unchanged from yesterday, 42.88% lower than the highest 123.67 points (2017-02-20) in the cycle, and 36.85% higher than the lowest 51.62 point on March 8, 2016 (Note: the cycle index is 2012-09-01 to now). According to the monitoring of the business agency, the price of NBR was 15566 yuan / ton at the beginning of March, and 15000 yuan / ton as of March 17. Since March, the overall price has declined by 3.64%.

2、 Market trend analysis

In March, OPEC and OPEC + failed to negotiate on the reduction of crude oil production. Saudi Arabia and other countries continued to increase production, which led to a sharp drop in crude oil prices, and formed a strong pressure on the entire chemical industry chain from the source. According to the business news agency, WTI’s April contract price fell to 28.69 US dollars / barrel on March 16 from 47.52 US dollars / barrel on March 2, down 39.63% on the whole.

The price of raw material butadiene acrylonitrile is lower, and the cost of butadiene acrylonitrile rubber is negative. On the one hand, the price of raw material acrylonitrile has declined sharply. According to the monitoring of the business association, the outgoing price of Shanghai Secco acrylonitrile was 8950 yuan / ton at the beginning of March, which was reduced to 8300 yuan / ton as of March 16; the outgoing price of Anqing Petrochemical acrylonitrile was reduced from 9500 yuan / ton at the beginning of March to 8500 yuan / ton as of March 16. On the other hand, the price of raw material butadiene fluctuates at a low level. According to the monitoring of the business agency, the price of domestic butadiene has been in a low and slightly fluctuating trend since March, and as of March 16, the price of domestic butadiene was 6256 yuan / ton.

The number of domestic units returning to work and production is increasing gradually, and the downstream rubber hose and belt industries of nitrile are also returning to work, but the overall unit construction is still insufficient. According to the business association, at present, the return rate of downstream industry is close to 90%, but the overall operating rate is still not high, and the purchase of NBR is mostly on demand, with no significant breakthrough in the purchase volume.

3、 Future prospects

Business analysts believe that at present, on the one hand, crude oil, butadiene, acrylonitrile prices are still at a low level, from the cost of NBR formation negative. On the other hand, domestic enterprises return to work and production, and there is still room for demand to rise. According to the situation of upstream and downstream, in the later stage, the NBR was mainly subject to concussion.

1、 Price trend

According to the data monitoring of the business agency, the zinc market has recently been adjusted by shocks, and the zinc price fell slightly in March. As of March 17, the spot price of zinc was 15756.67 yuan / ton, down 3% from 16243.33 yuan / ton at the beginning of the month. Zinc price fell slightly and zinc market was negative.

2、 Market trend analysis

Domestic zinc stock market

Time inventory (ton) change (ton)

March 17 96928 10043

March 13 86885 504

March 12 86381 1067

March 11 85314-2620

March 10 87934-552

March 9 88486 399

March 6 88087 1079

March 5 87008 669

March 4 86339 153

March 3 86186-233

March 2 86419 331

According to the data released by Shanghai futures market, zinc stock rose in March, and the growth rate of zinc stock slowed down significantly. With the gradual recovery of downstream construction, the demand of downstream is rising, and the demand of domestic zinc market is rising; although the domestic logistics and transportation are gradually recovering, the zinc ingot trade is generally not recovered from the previous market. Generally speaking, the supply of zinc is sufficient, and the demand has recovered in the near future. The supply of zinc exceeds the demand, and the market is negative.

Added value of industries above Designated Size dropped by 13.5% from January to February

According to the data of the National Bureau of statistics, from January to February, the added value of industries above Designated Size actually decreased by 13.5% year-on-year. From a month on month perspective, in February, the added value of industries above designated size decreased by 26.63% compared with the previous month. From the perspective of industry, from January to February, the non-ferrous metal smelting and rolling processing industry decreased by 8.5%, automobile manufacturing industry by 31.8%, railway, ship, aerospace and other transportation equipment manufacturing industry by 28.2%, electrical machinery and equipment manufacturing industry by 24.7%; from the perspective of products, from January to February, 10 non-ferrous metals by 9.35 million tons, up 2.2% year-on-year; 2.05 million vehicles, down 45.8%. From the data of industries and products, it can be seen that from January to February, the domestic non-ferrous metal smelting industry was less affected, and the non-ferrous metal production had a slight increase; however, the automobile manufacturing, railway, ship, infrastructure, machinery manufacturing and other industries were seriously affected, and these industries are the main users of zinc downstream, among which the automobile industry was directly cut back, down 45.8%, and the downstream demand for zinc ingots Sharp decline, negative for domestic zinc market.

Productivity trends of several zinc mines

Lunding mining company suspended construction and commissioning activities directly related to Neves Corvo zinc mine expansion project, with recovery time to be determined.

Implsora minera Santa Cruz, a mining company, decided to suspend the operation of the silver lead zinc mine of the same name in the state of sacatecas, Mexico, because the federal environmental protection agency is conducting an environmental investigation.

Silvercorp metals Inc (TSX: SVM), a silver lead zinc miner in Vancouver, Canada, said that up to now, its Ying mine in Henan Province, China and GC mine in Guangdong Province have recovered 94% of the planned capacity, and its inventory can meet the production demand for more than one month.

As the Italian government has now ordered, activities in all parts of the country will be restricted. Alta zinc has suspended drilling for the country’s gorno zinc project.

Zinc concentrate processing fee

Name: time of rise and fall of middle value of quotation

ZN50 domestic zinc concentrate TC / Guangxi 6100-6300 6200 0 2020-3-16

ZN50 domestic zinc concentrate TC / Hunan 6100-6300 6200-50 2020-3-16

ZN50 domestic zinc concentrate TC / Yunnan 5900-6100 6000 0 2020-3-16

ZN50 domestic zinc concentrate TC / Shaanxi 6100-6300 6200-50 2020-3-16

ZN50 domestic zinc concentrate TC / Inner Mongolia 6300-6500 6400 0 2020-3-16

It can be seen from the table that the processing fee of zinc concentrate in March is about 6200-6400 yuan / metal ton. Although the processing fee has declined slightly in the near future, it is still high in general. Compared with the price of zinc ingot, the processing fee accounts for 40%. The proportion of zinc concentrate processing cost increased, the space for zinc ingot to fall decreased, and the pressure for zinc ingot to rise increased.

3、 Future prospects

Baijiaxin, an analyst of business association, thinks that in February, the domestic economic performance was weak, the demand for zinc ingots fell seriously, while the production of zinc ingots was less affected. In March, the processing fee of zinc concentrate remained high, the cost of zinc ingots remained high, the price of zinc ingots touched the cost line, and the space for zinc price to drop was limited. However, due to the fact that the demand for zinc is not getting better, although the national policy is favorable, the number of downstream enterprises returning to work is increasing in the near future, and the demand for zinc ingots is picking up, but the deterioration of the global economic situation, the global zinc market is seriously damaged, the short-term rise of domestic zinc market is difficult to offset the decline of international zinc market, the expected decline of global zinc market demand is serious, and the environment of domestic zinc market is getting better and the international environment is deteriorating Shock adjustment under pressure. At the same time, due to the serious overstock of zinc stock, it is expected that the zinc market in the future will be vulnerable to shocks and adjustments.

In March, the incident has spread to more than 100 countries, and medical protection materials have become scarce. In just half a month, isopropanol has soared, and the industry is optimistic about the future market. Recently, with the increase of isopropanol factory export orders, the operating rate has increased, driving the acetone market to stop falling and rise back.

With the spread of the epidemic in foreign countries, the demand for disinfectants has increased, and the export of isopropanol has greatly increased

In February, under the influence of public events in China, the disinfectant Market attracted much attention, including fine chemicals, 84 disinfectants, bleaching powder, chlorine effervescent tablets and other chlorine containing disinfectants, as well as chlorine dioxide, hydrogen peroxide, peroxyacetic acid and other peroxide disinfectants. The market activity of these products is relatively high. According to the monitoring data of the business association, the market performance of isopropanol after the festival is good. Isopropanol has the smell like the mixture of ethanol and acetone, and has a strong bactericidal ability. It is a medium effect disinfectant. In general, the scope of application of disinfection is the same as that of ethanol, and isopropanol can be used as a compound disinfectant instead of ethanol. However, due to the cost constraints, the impact of ethanol on isopropanol in the domestic disinfectant industry is large, and the impact of domestic social public events has not driven the domestic isopropanol market upward. On the contrary, when the domestic disinfectant supply is sufficient, the impact of transportation and other environment on isopropanol has dropped from 7100 yuan / ton before the festival to 5700 yuan / ton.

Up to now, with the expansion of the impact of foreign public events, the demand for disinfectants has surged, while some countries have restricted the import of alcohol, which has stimulated the export demand of isopropanol in China. At present, with the increase of export orders, the factory’s operating rate has greatly increased, and some factories have sealed their offers but not reported them. Traders have a positive attitude and can not stop their losses, According to the monitoring data of business agency, the daily price of March 17 was 7167 yuan / ton, an increase of 20% since March, and the price of South China rose to 7500 yuan / ton. However, compared with the price of FOB Rotterdam 1300 dollars / ton, there is still room for upward trend. At present, the development of international epidemic is still in the outbreak stage. From the perspective of time, the demand for disinfectants abroad will not weaken in April. If the export price remains favorable, the volume of isopropanol exports will continue to increase in the short term.

Isopropanol rose 20%, operating rate increased, and raw material acetone market pushed up

The demand for isopropanol in the disinfectant Market in Europe and America is unexpected. According to the monitoring data of the business agency, the market of isopropanol has increased by 20%. What’s more unexpected is that the raw material acetone, for example, in East China market before the festival, is up to 5700 yuan / ton. After the Spring Festival, the market demand is low and the transportation is blocked. In February, the market in East China first fell below 5000 yuan / ton In March, a “black swan” followed, with crude oil plummeting by nearly 30%, causing heavy damage to the entire petrochemical sector, and acetone was also hard to escape. In a few trading days, the acetone market in East China fell to 4200 yuan / ton, with a view to breaking the “4″ market and saving the disinfection market. Up to now, East China has pushed up 600 yuan / ton in three trading days, while the acetone market has returned from the buyer’s market to the seller’s market overnight. According to the monitoring of the business agency, East China offers 4750 yuan / ton, Shandong and Yanshan offer 4450 yuan / ton, South China offers 4800 yuan / ton. Most of the traders who hold the goods sell obviously before, and hold a small amount of goods. According to the market development trend in the past month, the traders who store the goods before the festival have a serious loss. At present, there are many traders who are reluctant to sell obviously in order to hedge the loss, pushing up the market 。

To sum up, although isopropanol in terms of order quantity will not decrease in the export volume in the next month, but the price advantage is declining. Isopropanol is a medium effect disinfectant, and the price is on the high side. It can also be replaced in the disinfection market. At present, there are very few brilliant products in the whole chemical market, especially in the current international crude oil market, where there are frequent negative news and both supply and demand are negative, When the global petrochemical bulk market is in a downward trend, and the Federal Reserve cuts interest rates to zero, and the market is in a panic, except for medical supplies, it is difficult to find chemicals that go against the trend upward, the development of public events will be gradually controlled from the outbreak, and the demand for disinfectant imports of various countries will gradually enter a reasonable range. The business community expects that the isopropanol acetone market will continue to push up, but the space for pushing up It will never double the growth of mask market. At present, the isopropanol acetone market has attracted the attention of the chemical industry, taking the lead in the recovery of the petrochemical market, which led to the continued rise of the isopropanol acetone market in late March. The acetone market is expected to exceed 5000 yuan / ton, while the decline of other chemicals is slowing down.

1、 Trend analysis

According to the data monitoring of the business agency, the cobalt price fell precipitously this week, and the market speculation of the cobalt market continued. As of February 29, the price of cobalt was 258833.33 yuan / ton, down 4.90% compared with the average price of 272166.66 yuan / ton at the end of last week. This week, the panic mentality of cobalt market spread, and the price of cobalt fell off the cliff.

2、 The global stock market suffered an epic slump

The global market fell after a brief surge in January, and the U.S. stock market fell after hitting a new high in mid February. If the United States takes new year’s day as a starting point, by the end of March 12, the U.S. and European stock markets generally fell by more than 20%. The U.S. stock market broke twice in a week last week for the first time. On March 12, according to incomplete statistics, the stock markets of Thailand, the Philippines, South Korea, Pakistan, Indonesia, Brazil, Canada, Mexico, Colombia, Sri Lanka and other 10 countries broke down. The global stock market plummeted, hitting the confidence of the global economic market greatly. The cobalt market also suffered from the plummeting attack. The panic spread. The confidence of the rising cobalt market was insufficient, and the pressure of the falling cobalt price was great.

3、 Mobile phone sales halved in February

According to the data released by China Academy of communications, in February 2020, the total shipment volume of domestic mobile phone market was 6.384 million, a year-on-year decrease of 56.0%. From January to February 2020, the total shipment volume of domestic mobile phone market was 27.197 million, a year-on-year decrease of 44.0%. In the first two months of 2020, the sales volume of domestic mobile phones halved. Although the country vigorously promoted 5g reduction, 5g is not perfect at this stage and can not replace 4G, and the demand for 5g has increased, but it is difficult to offset the decline of mobile phone market. The overall mobile phone market is relatively cold, the demand for mobile phones in a short period of time is good and limited, and the demand for cobalt market is negative, and the demand for cobalt Market in the future is under great pressure.

4、 International cobalt price trend

According to the trend of the LME market cobalt price last week, it can be seen that the LME cobalt price fell precipitously last week, the bearish attitude of the cobalt market rose, the international cobalt market was more bearish, and the domestic cobalt market was bearish.

5、 Sales of new energy passenger vehicles fell sharply

According to the data of China Automobile Association, in February, the total output of China’s new energy vehicle market was 9951, down 77.3% month on month, down 82.9% year on year; the total sales volume reached 12908, down 72.4% month on month, down 75.2% year on year. From January to February, the cumulative output of new energy vehicle market was 53840, down 63.8% year on year; the cumulative sales volume reached 59705, down 59.5% year on year. The production and sales of new energy vehicles fell sharply, which led to a significant reduction in the demand for cobalt and a large negative impact on the cobalt market. In the future, the expected demand for cobalt decreased, the positive effect of the cobalt Market weakened, and the negative effect increased.

6、 Future prospects

According to Bai Jiaxin, a data analyst of business club, from the perspective of demand, the demand of cobalt market declined significantly in February, and the production and sales of mobile phone manufacturers cut short, which was bad for cobalt Market; the production and sales of new energy vehicles almost fell to the ground, and the demand for cobalt market was even colder. The objective demand reduction is bad for the cobalt market, and the cobalt price has lost the support of rising power. With the improvement of China’s domestic economy, the cobalt market should have risen with the good news. However, the epic collapse of the international stock market has hit the confidence of the market, the fear of the global economic crisis and the spread of economic weakness, which have severely hit the confidence of the cobalt market. After the demand of the cobalt market, it is expected to fall sharply. In the short term, the pressure of the decline of the cobalt market is great. In the long term, 5g can still bring new demand for the cobalt market Energy vehicles are still an irresistible trend in the future, and there is still room for the long-term cobalt market to rise. However, the poor performance of the global economic environment has delayed the improvement of the cobalt Market and delayed the rise cycle of the cobalt market.

According to statistics, the price of phthalic anhydride in China continues to decline. As of March 16, the price of phthalic anhydride in ortho phthalic method was 5362.5 yuan / ton. Recently, the price of phthalic anhydride in China has been falling continuously, the demand of plasticizer industry is general, and the market of phthalic anhydride is weak.

In recent years, the market price of phthalic anhydride in China has continued to decline. Due to the impact of a sharp decline in the price of crude oil in the early stage, the price of phthalic anhydride upstream raw material o-benzene has declined significantly, and the affected price of phthalic anhydride market has continued to decline. In addition, some phthalic anhydride manufacturers still have inventory in the near future, and the delivery situation is poor. The market price of phthalic anhydride and phthalic anhydride in East China fell, the downstream factories returned to work slowly, the factory inventory pressure increased, the high-end transactions were blocked, and the market price fell continuously. In East China, 5300-5600 yuan / ton is the main flow of negotiation for neighboring method and 5000-5200 yuan / ton is the main flow of negotiation for naphthalene method; in North China, 5200-5600 yuan / ton is the main flow of quotation for phthalic anhydride market, most of the manufacturers’ prices in the site fall, the downstream construction is not high, the main flow of procurement is on demand, and the wait-and-see mentality is strong. The domestic phthalic anhydride plant starts generally, the spot supply of phthalic anhydride in the site is sufficient, and the price of phthalic anhydride goes along The trend is falling.

In the near future, the execution price of domestic phthalic anhydride upstream product Sinopec has dropped to 5000 yuan / ton, the import phthalic acid Market in port area has been temporarily stable, the quotation has been temporarily stable, the recent port phthalic acid market has been temporarily stable, and the external quotation of phthalic acid has been temporarily stable, the actual transaction price is subject to negotiation, and the detailed discussion shows that the operation of phthalic acid equipment is basically normal, the supply of phthalic acid is stable, and the phthalic anhydride market is affected by the low price of upstream raw materials phthalic acid Market prices continued to fall.

The downstream DOP raw material phthalic anhydride price is temporarily stable, the price of isooctanol is fluctuating and falling, the cost of DOP raw material is fluctuating and falling, DOP enterprises are operating at low load, and the logistics and transportation are recovering gradually in the near future, but DOP manufacturers still have a lot of inventory. DOP price fell, PVC enterprise equipment start low, customer procurement enthusiasm is poor. The mainstream quotation of DOP market is about 6700-7000 yuan / ton, a small amount of market plasticizer is traded, the price of upstream ox is fluctuating, and the market price of phthalic anhydride is expected to be slightly lower in the later stage.

1、 Trend analysis

According to the nickel price monitoring of the business association, on March 16, the price of nickel rose by 3.42% to 100700 yuan / ton, a single day rise of 3000 yuan / ton, down 11.46% from the beginning of the year, down 2.22% year on year.

2、 Market analysis

Nickel prices have been rising and falling in recent years. Previously, due to the impact of international crude oil price war, nickel price once fell below 100000. According to the latest news, the Philippine North Missouri high Province officially signed a document banning foreign ships from March 18 to March 31. Dinagat and South Suriname did not announce relevant laws and regulations for the time being, causing nickel supply concerns and nickel prices should rise. Downstream stainless steel inventory is high, consumption has improved.

3、 Future prospects

Aftermarket forecast: supported by the reduction of supply expectation, downstream consumption is improved, and nickel price is expected to fluctuate strongly in the short term.

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 646.67 yuan / ton, up 7.18% compared with the average ex factory price of 603.33 yuan / ton at the beginning of the week, down 43.44% compared with last year.

2、 Market analysis

Product: this week, the domestic sulfur market negotiation atmosphere was slightly quiet. In terms of external market, the official price of UAE continued to rise in March, the external market was short of spot supply, and the offer in Hong Kong was high and stable. This week, the sulfur price continued to rise, and the lower reaches of the market purchase enthusiasm weakened and mainly on demand. The buyer and the seller intend to keep the price difference, and the on-site trading and investment are mostly stuck on the sidelines. The refinery shipments in various regions are relatively stable. In addition to the stable price operation of individual refineries, refineries in each region will adjust the quotation according to their own shipping situation within the week. As of December 13, Sinopec’s quotation for solid sulfur in East China is 610-710 yuan / ton, and that for liquid sulfur is 490-600 yuan / ton; Sinopec’s quotation for solid sulfur in North China is 530-570 yuan / ton, and that for liquid sulfur is 410-450 yuan / ton; Sinopec’s quotation for solid sulfur in Shandong is 640-650 yuan / ton, and that for liquid sulfur is 430-480 yuan / ton.

Industrial chain: the downstream sulfuric acid market is stable and weak. The supply of smelting acid in Shandong is sufficient, the stock of acid enterprises is high, the demand is weak, and the pressure release is slow. In addition, the start-up load of some sulfur and acid enterprises increased, the supply of sulfonic acid increased, but the downstream follow-up was insufficient, and it could not be consumed quickly in a short period of time. In order to relieve the inventory pressure, the manufacturers continued to sell at a profit. Although Hubei phosphate fertilizer manufacturers started one after another, the surrounding acid plants generally have large inventory and fierce competition for resources. On the other hand, the downstream phosphate fertilizer demand is limited, the market supply is strong and weak, and the acid price rise is weak.

3、 Future forecast

According to the sulfur analyst of the business association, in terms of the current supply and demand performance, the port inventory is high, the refineries in various regions are mainly in stable operation, the downstream phosphate fertilizer supply is increased, the sulfur is purchased on demand, the market is not clear, and the negotiation between the buyer and the seller is deadlocked. It is expected that the sulfur market will be narrowed in the later stage, and the situation of the factories in the future will be seen specifically.