Price trend chart of sodium pyrosulfite in China

According to the Commodity Market Analysis System of Business Society, the price of domestic sodium metabisulfite was relatively weak this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2283.33 yuan/ton, and the average price at the weekend was 2266.67 yuan/ton, with a decrease of 0.73% during the week.

This week, the domestic sodium metabisulfite market showed a general performance. Influenced by the slight fluctuation of upstream costs, the domestic sodium metabisulfite market price this week was stable, moderate and weak. The market price range of industrial grade sodium metabisulfite was 2200-2500 yuan/ton, and most prices were concentrated around 2200-2350 yuan/ton. The inventory of the enterprise is about 30%, and the enterprise mainly completes orders from old customers. (The above prices refer to external quotations from mainstream domestic enterprises, and some enterprises that have not been quoted are temporarily excluded from their scope. The prices are for reference only and are not related to the manufacturer’s final pricing. For more information, please contact each manufacturer for consultation.).

As of May 12th, the domestic soda ash price fell by 3.77% during the month, while the sulfur price increased by 6.02%. Overall, the raw material cost is weak and unstable, and the overall level is still relatively low. The sustained low cost will form a certain pressure on the recovery of sodium pyrosulfite in the future.

Future Market Forecast

Analysts from the business community believe that the cost is low and volatile, and the downstream purchase and sales are cautious. In the short term, the domestic market price of sodium metabisulfite will continue to fluctuate slightly at the current level.

According to the commodity market analysis system of the business community, the price trend of the domestic ammonium nitrate market was temporarily stable this week. As of the weekend, the market price of ammonium nitrate was 4340 yuan/ton, unchanged from the price of 4340 yuan/ton at the beginning of the week, down 5.65% year on year.

This week, the price trend of domestic ammonium nitrate market was temporarily stable, and the domestic ammonium nitrate manufacturers’ devices were operating stably. Recently, the supply of goods on the site was sufficient, and the goods on the site were generally shipped. The manufacturer’s inventory was not high. The price trend of liquid ammonia at the upstream of the terminal was slightly lower, the price of nitric acid was lower, and the price trend of ammonium nitrate was temporarily stable. Recently, the shipping market of ammonium nitrate manufacturers has been normal, and downstream purchases are on demand. Recently, downstream demand for nitro compound fertilizers has been normal, while domestic procurement in the downstream civilian explosive industry is average. Domestic ammonium nitrate manufacturers have not started production high, and the price of ammonium nitrate has been stable recently. As of now, the mainstream negotiation prices in Shaanxi region are 5300-5400 yuan/ton, Shandong region is 4500-4600 yuan/ton, and Hebei region is 4600-4700 yuan/ton.

The price of concentrated nitric acid in China has slightly declined this week, with an average price of 2400 yuan/ton as of the 12th, a decrease of 1.37% compared to the price of 2433.33 yuan/ton at the beginning of the week. Mainstream enterprises in East China offer prices ranging from 2400 to 2600 yuan/ton, while northern and central China offer prices ranging from 2200 to 2400 yuan/ton. At present, the pressure on the supply side of the concentrated nitric acid market is not decreasing, demand continues to be weak, and costs are declining. The supply of the concentrated nitric acid market is normal, and the market mainly relies on orders. The market volume is average, and industry insiders are mostly wait-and-see. The on-site price of nitric acid has slightly decreased, and the market situation of ammonium nitrate is weak and stable.

The price trend of upstream liquid ammonia has slightly declined this week. As of the weekend, the price of liquid ammonia was 3183.33 yuan/ton, a decrease of 1.55% compared to the price of 3233.33 yuan/ton at the beginning of the week. In April, the supply performance was abundant, and manufacturers’ accumulated inventory guided them to continuously lower their factory prices. In April, manufacturers’ quotations significantly declined, and there has been little change in domestic ammonia release recently. However, supply pressure still exists, and the price of liquid ammonia has slightly decreased. The low price of upstream liquid ammonia has a negative impact on the ammonium nitrate market, and the market price of ammonium nitrate is temporarily stable.

Recently, the demand of the downstream civil explosive industry is general, the price trend of liquid ammonia market fluctuates and declines, the price of nitric acid drops slightly, and the spot supply of ammonium nitrate is normal. Ammonium nitrate analysts from the business community believe that the market price of ammonium nitrate in the later period may be weak and stable.

According to data monitoring by Business Society, as of May 11, 2023, the reference average price of 30% grade phosphate ore in China was around 1066 yuan/ton. Compared with May 7, 2023 (reference price of phosphate ore is 1090 yuan/ton), the price has decreased by 24 yuan/ton, a decrease of 2.20%.

From the data monitoring chart of the Business Society, it can be seen that this week (5.7 to 5.11), the domestic phosphorus ore market as a whole was in a weak and declining trend, and the overall market focus was on a downward trend. At present, although the overall support for the supply side of phosphate rock in China is still acceptable, the overall operating rate downstream of the phosphate rock industry chain is relatively low, and the demand for phosphate rock in some regions has weakened. The overall atmosphere in phosphate rock yards is average, and some mining companies have lowered the prices of mid to high-end grade phosphate rock by around 20-50 yuan/ton. As of May 11, the market price of 30% grade phosphorus ore in China is around 1000-1100 yuan/ton, and the low price is around 980 yuan/ton. There are also differences between the specific price and factors such as the original ore specifications and powder to lump ratio, and the specific price needs to be negotiated through actual orders.

Prediction and Analysis of the Future Market Trend of Phosphate Rock

At present, the trading atmosphere in the phosphate ore field is quiet, and the downstream weakness affects the mentality of the industry. From bottom to top, the support for phosphate ore is loose. The phosphate ore data analyst of the Business Society believes that in the short term, the domestic phosphate ore market is mainly subject to narrow adjustment and operation, and the specific trend still needs to pay more attention to changes in supply and demand news.

Price trend chart of sodium pyrosulfite in China

According to the Commodity Market Analysis System of Business Society, the overall price of domestic sodium metabisulfite was weak and downward this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2350.00 yuan/ton, and the average price at the weekend was 2283.33 yuan/ton, with a decrease of 2.84% during the week.

In April, the price of domestic soda ash dropped by 3.99%, the price of sulfur dropped by 32.5%, and the cost of raw materials fell significantly under the low pressure system. In May, domestic sodium metabisulfite manufacturers successively lowered the ex factory price of sodium metabisulfite, driving down the weak price of domestic sodium metabisulfite market this week. This week, the overall price of sodium pyrosulfite is in the range of 2200-2500 yuan/ton, with most prices around 2200-2300 yuan/ton. Downstream trading entities have a strong wait-and-see attitude, with enterprises mainly completing orders from old customers. (The above prices refer to external quotations from mainstream domestic enterprises, and some enterprises that have not been quoted are temporarily excluded from their scope. The prices are for reference only and are not related to the manufacturer’s final pricing. For more information, please contact each manufacturer for consultation.).

As of May 5, the price of domestic soda ash continued to be weak, falling 1.51% within the week, and the price of sulfur rebounded from the bottom, rising 6.02% within the week. In general, the cost of upstream raw materials of sodium metabisulfite is still at a low position, which will suppress the market price of sodium metabisulfite in the future.

Future Market Forecast

Analysts from the business community believe that the cost of raw materials has declined in a volatile way, and it is expected that the domestic market price of sodium metabisulfite will still have some room to fall in the short term.

According to the Commodity Market Analysis System of Business Society, the domestic sodium metabisulfite price continued to decline in April, with an average price of 2416.67 yuan/ton for industrial grade sodium metabisulfite on April 1st and 2350.00 yuan/ton on April 28th, a decrease of 2.76% during the month.

In April, affected by the sharp drop in the price of upstream raw materials, the enterprise slightly lowered the ex factory price of sodium metabisulfite, driving the price of domestic sodium metabisulfite market to fall slightly. With the continuous decline in the price of upstream raw materials, the overall purchase and sales of sodium metabisulfite downstream are cautious, and the cost and demand are suppressed, the manufacturers have reduced the ex factory price one after another. The domestic market price of sodium metabisulfite continues to be weak for months.

In April, the price of domestic soda ash dropped by 3.99%, the price of domestic sulfur dropped by 23.50%, and the cost of raw materials dropped significantly, which will further suppress the price of domestic sodium metabisulfite market in the future.

Future Market Forecast

Analysts from the business community believe that the cost of raw materials continues to decline, and downstream trade entities have a strong wait-and-see attitude. It is expected that the domestic sodium metabisulfite market price will continue to fall under pressure in May.

According to data monitoring from Business Society, the prices of industrial grade and battery grade lithium carbonate were still in a downward trend in April, and prices rebounded towards the end of the month. On April 27th, the average domestic mixed price of industrial grade lithium carbonate was 174000 yuan/ton, a decrease of 22.53% compared to the average price of 224600 yuan/ton on April 1st. On April 27th, the average domestic mixed price of battery grade lithium carbonate was 200000 yuan/ton, a decrease of 22.78% compared to the average price of 259000 yuan/ton on April 1st.

By observing market changes, it can be seen that the overall price of lithium carbonate in April remained in a downward trend. In terms of supply, the overall inventory level of the lithium carbonate market in mid to early April was still at a high level, and there was no significant reduction in volume. Subsequently, due to the gradual warming of temperature, the production capacity of salt lakes in Qinghai and other regions gradually recovered, and with the continuous improvement of technologies such as spodumene lithium extraction, salt lake lithium extraction, and mica lithium extraction, the production of lithium carbonate steadily increased.

In late April, some mica enterprises and lithium salt factories still have a large number of OEM and production cuts due to cost inversion and other issues. Driving the recent decline in the operating rate of lithium carbonate, there has been a shortage of spot supply in the market, and the price of lithium carbonate has risen at the end of the month.

In terms of demand, the willingness to receive downstream goods in the lithium carbonate market was still weak in April, leading to increasingly weak market demand in the early stages. In addition, the growth rate of terminal new energy vehicle sales is still slow, and many downstream battery companies have sufficient reserves of lithium carbonate. As demand falls short of expectations, procurement reductions and delays in delivery occur from time to time, gradually spreading to the upstream of the industry chain. The increase in reserves has led to a lag in the actual demand for lithium carbonate.

As the end of the month approaches, the activity of the lithium carbonate market has increased, and downstream inquiries are gradually increasing. In addition, there are fewer spot goods in the market and holders are more reluctant to sell, which has led to an increasingly tight market situation and increased demand for lithium carbonate, leading to a rebound in prices.

The downstream lithium hydroxide market continued to decline, with a decline in the lithium carbonate market in early April, which resulted in poor support for the lithium hydroxide market. Supply side enterprises mainly focus on normal production, while domestic market demand is weak, spot market transactions are limited, and the mentality of operators is poor. The lithium hydroxide market is weak. In the middle of the year, downstream demand weakened, purchasing intentions were low, and high market prices put pressure on transactions. In the second half of the year, the cost support is still weak, and the market supply is relatively abundant. Downstream procurement is cautious, and the lithium hydroxide market continues to decline.

The downstream price of lithium iron phosphate remained downward, but in April, due to the continuous decline in lithium carbonate prices, there was a lack of support for the cost side of lithium iron phosphate. In addition, the demand for lithium iron phosphate in downstream electric vehicles is insufficient, and the industry is facing inventory pressure and continues to lower prices. Under the sentiment of buying up rather than falling, the purchasing enthusiasm is cold, and manufacturers often hold a wait-and-see attitude.

According to lithium carbonate analysts from Business Society, the current lithium carbonate market has active inquiries, but there are relatively few spot orders, highlighting the market’s reluctance to sell. In addition, due to factors such as upstream production reduction, terminal consumption, and inventory reduction, it is expected that the price of lithium carbonate may be slightly stronger in the short term.

According to the Commodity Market Analysis System of the Business Society, as of April 25th, the average price quoted by formic acid companies was 3875.00 yuan/ton, which is the same as the price on April 1st.

The formic acid market remained stable at a high level in April. In the first ten days, the price of raw material sulfuric acid increased, while the price of raw material methanol decreased. The cost impact was limited, and the main downstream formate market was mainly based on demand procurement. The supply and demand support was still good, and the high and stable center of gravity of formate prices was the main focus. In the middle and later stages of the year, the price of raw material sulfuric acid rose first and then fell. The price of raw material methanol remained strong, and cost support remained. Downstream pesticide, rubber, leather, and pharmaceutical industries purchased goods according to market demand before the festival, with orderly market transactions and stable high formic acid prices.

In terms of cost: Upstream sulfuric acid, according to the Commodity Market Analysis System of Business Society, the reference price for sulfuric acid on April 25th was 235.00, a decrease of 2.08% compared to April 1st (240.00); Upstream methanol, according to the Commodity Market Analysis System of Business Society, the reference price for methanol on April 25th was 2520.00, a decrease of 1.63% compared to April 1st (2561.67).

Business Society formic acid analysts believe that the overall price of the domestic industrial grade 85% formic acid market is generally stable, with little impact on the cost side. Market inquiries and procurement are mainly in demand, and it is expected that in the short term, the domestic industrial grade 85% formic acid market may operate at a high level, and more attention should be paid to market news guidance.

According to the Commodity Market Analysis System of Business Society, from April 14 to April 21, 2022, the ex factory price of hydrogenated benzene in North China increased by 0.68% from 7350 yuan/ton last weekend to 7400 yuan/ton this weekend.

In terms of crude oil: Recently, the crude oil market has slightly declined. As of the 20th, the settlement price of the main contract for WTI crude oil futures in the United States was $77.37/barrel, while the settlement price of the main contract for Brent crude oil futures was $81.10/barrel. In early April, due to the news of production cuts from oil producing countries, the supply side of crude oil tightened, US crude oil inventories decreased, and strong demand from China for crude oil provided some support for international oil prices, leading to a significant increase in international oil prices. Recently, the market is worried about the performance of the Federal Reserve’s interest rate increase. The strengthening of the US dollar suppresses oil prices. In addition, the increase of the US crude oil inventory depresses the market, and the price trend of the crude oil market falls back.

The factory price of Sinopec pure benzene has increased by 300 yuan/ton on April 4, 2023, and is currently at 7500 yuan/ton.

Other companies: Jingbo Petrochemical quoted 7620 yuan/ton, HSBC Petrochemical quoted 7500 yuan/ton, Weilian Chemical quoted 7403 yuan/ton, Xinhai Petrochemical quoted 7400 yuan/ton, and Hongrun Petrochemical quoted 7500 yuan/ton.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. The weekly K-bar chart of pure benzene shows that after entering July, the price of pure benzene has continued to decline, with a slight rebound in late August and early September. The price mainly decreased from October to December, rebounded in January, fluctuated narrowly after February, and overall rose in March.

In terms of industrial chain: This week, crude oil prices fluctuated at a high level and then went down, while the pure benzene market first rose and then fell. At the beginning of the week, both crude oil and styrene were trading at high levels, with a strong market mentality, while pure benzene prices were trading at high levels. During the weekend, crude oil took the lead in falling, styrene fluctuated downward, and the pure benzene market was dragged down by a narrow decline in prices.

The hydrogenation benzene market fluctuated with the trend of pure benzene this week, with the overall trend rising first and then falling. As of the 21st, the mainstream market price in East China was 7450~7500 yuan/ton. The factory price in the main production area is 7400 yuan/ton, a slight increase of 50 yuan/ton compared to last week. In terms of supply, the recent performance of the hydrogenation benzene market has been good, with enterprises actively operating and operating rates slightly increasing. In terms of demand, the downstream performance has been average recently, with a strong mentality of purchasing at low prices, and most of them maintain just in demand procurement. In terms of future market prospects, crude oil and styrene fell over the weekend, while the pure benzene market slightly weakened. Currently, the inventory of pure benzene in East China is slightly high, indicating a bearish market outlook. However, companies approaching small and long holidays have a pre holiday stocking intention, and prices are expected to remain stable, moderate, and weak overall, supported by stocking demand.

Market analysis for this week

According to the monitoring of Business Society, as of the 23rd, the average price of magnesium ingots in the domestic market was 27500 yuan/ton, a decrease of 4.62% on a weekly basis. This week, the foam of magnesium ingot market price rise was broken, and the price fell broadly. At the beginning of the week, the market price rose to 28500-30000 yuan/ton, and the overall transaction in the market was average. Some manufacturers cut prices to choose the opportunity to ship. Starting from Tuesday, the price of magnesium gradually decreased to around 27500 yuan/ton.

In terms of supply and demand

In terms of factories, many manufacturers, in view of the current magnesium price profit in line with expectations, took the initiative to give up the price for shipment, and the market price was also lowered. There are also large manufacturers whose quotations remain firm, resulting in the coexistence of high and low resources in the market. In terms of demand, there is currently no further news on the blue charcoal rectification policy. The downstream market is gradually returning to rationality, and considering the continuous rise in magnesium prices in the early stage, which exceeds the downstream acceptance range, downstream demand space is limited.

In terms of raw materials

The average market price of ferrosilicon in Ningxia is 7511.43 yuan/ton, with a spot price fluctuation of about 10-20 yuan/ton. This week, the price of ferrosilicon rose first and then fell, and the market hype dissipated. Short term ferrosilicon is currently constrained by weak demand and will experience periodic fluctuations. The raw material blue charcoal market is operating steadily and weakly, with mainstream prices for small and medium-sized materials in the Shenmu market ranging from 1280 to 1470 yuan/ton.

Future Market Forecast

Overall, the enthusiasm for the rectification of Lancan has gradually faded, and the magnesium ingot market is gradually returning to rationality. In the absence of other favorable factors, the market price returns to the fundamentals. Downstream market demand cannot continue to follow up, and there is a strong bearish sentiment in the market. It is expected that magnesium prices will be weak in the short term.

Price trend chart of sodium pyrosulfite in China

According to the Commodity Market Analysis System of Business Society, the price of domestic sodium metabisulfite decreased slightly this week. The average price of industrial grade sodium metabisulfite at the beginning of the week was 2366.67 yuan/ton, and the average price at the weekend was 2350.00 yuan/ton, with a slight decrease of 0.70% during the week.

The domestic sodium metabisulfite market performed generally this week. Some enterprises lowered the market price slightly, driving the overall price of domestic sodium metabisulfite market to decline slightly. The market price of industrial sodium metabisulfite this week ranged from 2300-2500 yuan/ton, and most prices were concentrated around 2300-2400 yuan/ton. The inventory of the enterprise is about 30%, and the enterprise mainly completes orders from old customers. (The above prices refer to external quotations from mainstream domestic enterprises, and some enterprises that have not been quoted are temporarily excluded from their scope. The prices are for reference only and are not related to the manufacturer’s final pricing. For more information, please contact each manufacturer for consultation.).

As of April 21, the price of domestic soda ash has dropped by 2.9%, and the price of sulfur has dropped by 22.81%. The continuous weakness of upstream raw material price will further suppress the future market price of sodium metabisulfite.

Future Market Forecast

Analysts from the business community believe that the cost of raw materials continues to decline, the overall purchase and sales of downstream are cautious, and the domestic market price of sodium metabisulfite still has some room to fall in the short term under the suppression of many bad news.