According to the Commodity Analysis System of the Business Society, the domestic sulfuric acid market prices increased significantly in June. The market price of sulfuric acid has increased from 182.00 yuan/ton at the beginning of the month to 196.00 yuan/ton at the end of the month, an increase of 7.69%. The price at the end of the month decreased by 80.75% year-on-year.

On June 26th, the sulfuric acid commodity index was 30.51, unchanged from yesterday, a decrease of 83.78% from the cycle’s highest point of 188.07 points (2022-04-13), and an increase of 7.70% from the lowest point of 28.33 points on June 13th, 2023. (Note: The cycle refers to the period from September 1st, 2011 to the present)

From the supply side perspective, the prices of mainstream domestic sulfuric acid manufacturers have slightly increased this month, and the inventory of manufacturers is relatively low.

Cost side: Sulfur market rises first and then falls

The ex factory price of sulfur rose first and then fell in June. The price of sulfur first increased from 810.00 yuan/ton at the beginning of the month to 840 yuan/ton on June 13, an increase of 3.70%, and then dropped to 746.67 yuan/ton at the end of the month, a decrease of 11.11%. The price at the end of the month decreased by 79.98% year-on-year. The sulfur market rose first and then fell, with average cost support, which had a bearish impact on the price of sulfuric acid.

On the demand side: The market for hydrofluoric acid has slightly declined

The hydrofluoric acid market slightly declined in June. The price decreased by 0.29% from 9685.71 yuan/ton at the beginning of the month to 9657.14 yuan/ton at the end of the month. The price at the end of the month decreased by 17.03% year-on-year. In June, the market price of titanium dioxide stabilized at a low level, with a price of 16133.33 yuan/ton. At the end of the month, the price decreased by 21.11% year-on-year. Overall, the downstream market of sulfuric acid has slightly declined, and downstream manufacturers have weak enthusiasm for purchasing sulfuric acid.

Looking at the future market: In mid to early July, the domestic sulfuric acid market may experience a slight fluctuation and decline, with consolidation being the main trend. The downstream market of hydrofluoric acid and titanium dioxide declined slightly, and the downstream purchase enthusiasm for sulfuric acid was general. Upstream sulfur prices have significantly decreased, with insufficient cost support. Business Society sulfuric acid analysts believe that in the short term, the sulfuric acid market may experience slight fluctuations and declines due to various factors such as supply and demand and raw materials, with consolidation being the main focus.