① A wait-and-see sentiment has intensified in the domestic sulfuric acid market, with overall transaction prices declining compared to previous periods.
② The average domestic sulfuric acid price this week was 1,232 CNY/ton, a decrease of 10.72% from last week.
③ Today's total port inventory of sulfur is 931,100 tons, with a reference price of 7,150 CNY/ton, down by 50 CNY/ton from last week.
④ The capacity utilization rate for the monoammonium phosphate (MAP) industry this week was 46.87%, a decrease of 1.91 percentage points from last week; the capacity utilization rate for diammonium phosphate (DAP) was 43.64%, a decrease of 0.47 percentage points from the previous period.
Mainstream Market Price Table
Unit: CNY/ton
| Market | Specification | Current Period | Previous Period | Change Value | Change Rate |
|---|---|---|---|---|---|
| Shandong | 98% Sulfur-based Acid | 2850-2900 | 2850-2900 | 0/0 | 0.00%/0.00% |
| Jiangsu | 98% Sulfur-based Acid | 1700-2100 | 1800-2100 | -100/0 | -5.56%/0.00% |
| Zhejiang | 98% Sulfur-based Acid | 2150-2900 | 2200-2900 | -50/0 | -2.27%/0.00% |
| Anhui | 98% Sulfur-based Acid | 2200-2400 | 2200-2400 | 0/0 | 0.00%/0.00% |
| Hebei | 98% Sulfur-based Acid | 2250-2400 | 2250-2400 | 0/0 | 0.00%/0.00% |
| Anhui | 98% Smelting Acid | 950-980 | 1150-1180 | -200/-200 | -17.39%/-16.95% |
| Shandong | 98% Smelting Acid | 1400-1680 | 1500-1680 | -100/0 | -6.67%/0.00% |
| Hunan | 98% Smelting Acid | 910-1100 | 1100-1230 | -190/-130 | -17.27%/-10.57% |
| Jiangxi | 98% Smelting Acid | 990-1050 | 1170-1230 | -180/-180 | -15.38%/-14.63% |
| Henan | 98% Smelting Acid | 986-1200 | 990-1300 | -4/-100 | -0.40%/-7.69% |
| Hubei | 98% Smelting Acid | 1100-1200 | 1250-1350 | -150/-150 | -12.00%/-11.11% |
| Guangxi | 98% Smelting Acid | 1420-1550 | 1520-1650 | -100/-100 | -6.58%/-6.06% |
| Guizhou | 98% Smelting Acid | 1350-1450 | 1460-1600 | -110/-150 | -7.53%/-9.38% |
| Sichuan | 98% Smelting Acid | 1250-1500 | 1450-1550 | -200/-50 | -13.79%/-3.23% |
| Yunnan | 98% Smelting Acid | 1300-1350 | 1300-1350 | 0/0 | 0.00%/0.00% |
| Fujian | 98% Smelting Acid | 1400-1630 | 1500-1830 | -100/-200 | -6.67%/-10.93% |
| Inner Mongolia | 98% Smelting Acid | 1250-1830 | 1250-1830 | 0/0 | 0.00%/0.00% |
| Liaoning | 98% Smelting Acid | 1650-1850 | 1650-1850 | 0/0 | 0.00%/0.00% |
| Gansu | 98% Smelting Acid | 1010-1450 | 1330-1550 | -320/-100 | -24.06%/-6.45% |
| Shandong | 98% Pyrite-based Acid | 1400-1600 | 1550-1600 | -150/0 | -9.68%/0.00% |
| Guangdong | 98% Pyrite-based Acid | 1350-1450 | 1400-1480 | -50/-30 | -3.57%/-2.03% |
| Hebei | 98% Pyrite-based Acid | 1750-1750 | 1750-1850 | 0/-100 | 0.00%/-5.41% |
The domestic sulfuric acid market remained generally weak this week, with trading activity showing signs of stagnation. Inventory levels at some acid producers increased, and with the Mid-Autumn Festival and National Day holidays approaching, there was strong demand for inventory reduction before the break. Consequently, room for negotiation on actual transactions continued to widen. Demand-side performance was lackluster; operating rates in downstream industries such as phosphate fertilizers and titanium dioxide remained low. End-users largely adhered to rigid demand purchasing, resulting in a pronounced wait-and-see attitude that failed to provide effective support for acid prices. Affected by multiple negative factors, prices in Central, East, South, Southwest, and Northwest China declined again this week, with reductions concentrated between 100 and 200 CNY/ton. In the short term, the domestic sulfuric acid market is expected to maintain its weak trend ahead of the holiday. As of now, the delivered price of 98% smelting acid in Hubei region ranges from 1,100 to 1,200 CNY/ton, down by 12.00%/11.11% from last week; the ex-factory price of 98% smelting acid in the Shandong market is 1,400–1,680 CNY/ton, down by 6.67%/0.00% from last week.
Domestic sulfuric acid capacity utilization rose to 64.47%, an increase of 0.37 percentage points month-on-month, but a decrease of 1.30 percentage points year-on-year. Regions with upward trends include: Northwest China, where Jinchang acid enterprises in Gansu resumed production after previous maintenance shutdowns; Central China, where some units in Jiyuan, Henan resumed operation; North China, where one production line at major smelting acid enterprises in Chifeng, Inner Mongolia resumed production, and major acid enterprises in Bayannur resumed production after maintenance; and Northeast China, where major pyrite-based acid enterprises in Jilin resumed production. Regions with downward trends include: East China, where major acid enterprises in the Jiaodong area of Shandong entered their maintenance period. Next week, another production line at major acid enterprises in Chifeng, Inner Mongolia is expected to resume operation, leading to minor fluctuations in the domestic sulfuric acid capacity utilization rate.
Regarding major downstream sectors: The capacity utilization rate for the MAP industry this week was 46.87%, down by 1.91 percentage points from last week; the DAP capacity utilization rate was 43.64%, down by 0.47 percentage points from the previous period.
According to Chempricehub data calculations, liquid sulfur prices in East China saw slight adjustments this week. The reference price for East China liquid sulfur is 7,405 CNY/ton. Based on this price, the raw material cost for sulfur-based acid is approximately 2,468.33 CNY/ton. Although steam generated during sulfur processing offsets part of the costs, when including expenses for water, electricity, labor, and equipment depreciation, the total cost of sulfur-based acid stands at 2,370.45 CNY/ton. The current reference price for sulfur-based acid in East China is 2,000 CNY/ton. Among the three types of acid production, the profit margin for sulfur-based acid is -366.16 CNY/ton, for pyrite-based acid it is -206 CNY/ton, and for smelting acid it is 820 CNY/ton.
Domestic sulfuric acid transactions are expected to be limited next week, with a focus on maintaining stable shipments. Next week falls just before the National Day holiday, leaving fewer working days. Most regional acid plants will primarily execute shipments for previously placed orders, slowing down negotiations for new contracts. Overall trading activity is expected to decline further. During the holiday period, transportation restrictions in many domestic regions will hinder cross-regional resource circulation, likely resulting in limited market transactions. On the supply side, operating rates at domestic acid plants are expected to remain generally stable with little fluctuation. Major acid plants will mostly maintain current loads, with no large-scale maintenance or production increase plans currently, ensuring ample market supply. However, several acid plants across various regions have scheduled maintenance for early October. Major acid plants in Guangxi, Shandong, and Anhui will gradually enter routine maintenance, which may lead to a phased tightening of supply and highlight differences in regional supply patterns. On the demand side, a divergent pattern will continue. The phosphate fertilizer market remains stagnant with limited price volatility. Enterprise finished goods inventories remain high, and operating loads are running at low levels. Before the holiday, there is only minimal willingness for restocking based on rigid demand, offering limited stimulus to the sulfuric acid market. Demand from downstream chemical industries varies; while operating rates in sectors like titanium dioxide and caprolactam have slightly recovered, enterprise profits remain under pressure. Procurement continues to be driven mainly by rigid demand, making it difficult to form significant volume increases, though the overall trend shows a slight upward movement. Support from the cost side continues to weaken.
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