According to the Commodity Analysis System of Business Society, the domestic 25% sodium acetate market has seen a slight increase since March. As of March 5th, the mainstream retail price in the market is around 837 yuan/ton, an increase of 3.02% from the average price of 812 yuan/ton in February. Due to the resumption of work and production in various industries after the holiday, the demand for sewage treatment has increased, and the price of sodium acetate factories has risen, leading to a rebound in the market. It is expected that the focus of the sodium acetate market will remain stable in the short term, with narrow consolidation as the main trend.

Product name: Sulfuric acid

Latest price (March 4th): 241.25 yuan/ton

On March 4th, the domestic sulfuric acid market price significantly increased, with a price increase of 17.5 yuan/ton compared to March 1st, an increase of 7.82%, and a year-on-year decrease of 6.01%. The upstream sulfur market has recently seen a significant increase, with increased cost support. The downstream market for monoammonium phosphate and titanium dioxide has slightly increased, and downstream customers are more proactive in purchasing sulfuric acid. Duo Zhong Li is good, and the sulfuric acid market is soaring.

It is expected that the domestic sulfuric acid market price will slightly increase in the future, with an average market price of around 250 yuan/ton.

According to the commodity market analysis system of Business Society, sulfur prices in East China increased significantly in February. On February 29th, the average ex factory price of sulfur in the East China region was 1020.00 yuan/ton, an increase of 9.29% compared to the average ex factory price of 933.33 yuan/ton at the beginning of the month.

This month, the sulfur market in East China has shown a strong upward trend. Before the Spring Festival, the downstream of Shandong region actively prepared goods before the festival, and manufacturers shipped smoothly, leading to an upward trend in sulfur prices; After the holiday, local refineries continued the pre holiday atmosphere, and many manufacturers in Shandong province raised their prices; In the latter half of the year, downstream purchasing enthusiasm weakened, and traders had high inventory. Coupled with sufficient market supply, sulfur prices were consolidated and lowered.

The downstream sulfuric acid market remained stable and upward in February, with a market price of 187.50 yuan/ton at the beginning of the month and 203.75 yuan/ton at the end of the month, an increase of 8.67% within the month. After the holiday, there will be a price increase, which is beneficial for the rise of sulfuric acid market. However, the overall supply of mainstream sulfuric acid manufacturers will continue to be sufficient within the month. Downstream suppliers will mainly digest early inventory and follow up on sulfuric acid procurement as needed. Sour companies will keep their quotes stable and wait.

The market for monoammonium phosphate was consolidating in February, with weak trading and fewer new orders before the Spring Festival; After the holiday, the prices of ammonium phosphate manufacturers remained stable, and the market was mostly wait-and-see. Downstream compound fertilizer enterprises held a cautious attitude, mainly purchasing according to demand. The trading atmosphere at the end of the month improved, and the price of ammonium phosphate slightly increased. As of February 29, the average market price of 55% powdered ammonium phosphate was 3120 yuan/ton, which is 0.43% lower than the average price of 3133 yuan/ton on February 1.

In the future market forecast, sulfur analysts from Business Society believe that the operation of sulfur enterprises is normal, and the market supply of goods is sufficient. We are waiting for spring to come, and the terminal compound fertilizer market will gradually expand. Downstream construction may improve, and the market trading atmosphere will improve. It is expected that the sulfur market will operate smoothly in March.

Ethylene glycol prices fluctuate at high levels

The price of ethylene glycol fluctuated at a high level in February. According to data from Business Society, as of February 29th, the average price of domestic oil to ethylene glycol was 4630 yuan/ton, an increase of 7.49% from the beginning of the year (January 1st) at 4307.5 yuan/ton.

Due to factors such as overseas device news in December 2023 and continuous inventory depletion, the price of ethylene glycol has gradually fluctuated horizontally after climbing to a nearly one-year high.

After the holiday, the supply of ethylene glycol has rebounded, and the port to port capacity has recovered to 110000 to 120000 tons. With the restart of satellite petrochemicals in China, the production of equipment has rebounded. Last week, the total domestic ethylene glycol production capacity utilization rate was 65.88%, an increase of 2.88% compared to the previous week. Among them, the integrated unit production capacity utilization rate was 68.73%, an increase of 2.79% compared to the previous week; The utilization rate of coal to ethylene glycol production capacity was 60.79%, with a month on month increase of 2.85%.

On February 1, 2024, the electrolytic manganese market temporarily stabilized, with spot market prices in East China at 13900 yuan/ton at the beginning of the month and 13900 yuan/ton at the end of the month, remaining stable.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell 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. From the weekly and monthly electrolytic manganese K-bar charts above, it can be seen that the recent trend of the electrolytic manganese market is relatively stable.

In terms of manganese ore: The manganese ore market in February was relatively weak. After the holiday, the operating rate of factories in the southern region remained low, and the dredging volume of Qinzhou Port decreased to 46000 tons, a decrease of 72000 tons. The port inventory continued to accumulate, and the imported manganese ore inventory of Qinzhou Port increased by 1.333 million tons, with an increase of 46000 tons, including 49.2 tons for Australian ore, 3.5 tons for South African ore, 44.6 tons, 1.7 tons for Gabon ore, 30.4 tons, 0.6 tons for Gabon ore, 8.0 square meters for Brazil, 1.1 square meters for Malay ore, 0 square meters for Cote d’Ivoire, and 0 square meters for others. As of February 28th, the cost of semi carbonated carbon dioxide in Tianjin Port South Africa is around 34.5 yuan/ton, Gabon is 35.5-36 yuan/ton, and Australia is 36.3-36.5 yuan/ton; The price of manganese ore in Qinzhou Port has stabilized, with light market trading. The price of semi carbonate is around 34 yuan/ton, while the price of Australian block is 36.5-37 yuan/ton, and the price of Australian seeds is 34-35 yuan/ton.

Affected by the Spring Festival holiday in February, the overall spot market transactions were sluggish, with downstream enterprises mainly consuming inventory. The mainstream market price remained at 12300-12500 yuan/ton, which remained stable compared to before the holiday. Enterprises only resumed work after the 15th day of the first lunar month, resulting in almost stagnant market trading throughout February, and most downstream enterprises also executed their previous bidding orders. After the holiday, some companies have launched a new round of bidding, and the overall market has a strong wait-and-see attitude, waiting for the guidance of the new round of steel bidding prices. However, most downstream enterprises maintain rigid procurement, lacking demand support, making it difficult for the market to continue to rise. The supply-demand game mentality is still strong, and the overall attitude of traders is wait-and-see. Under the supply-demand game mentality, it is expected that the market will remain temporarily stable in the short term, with a focus on the subsequent steel recruitment situation and the release of downstream replenishment demand.

The overall market for silicon manganese in February was weak. Before the holiday, some steel mills in the southern region opened bidding for February, but recent steel mills have seen sluggish transactions and continued to compress profits. There is a clear willingness to lower the price of silicon and manganese, and the market is still in a state of supply-demand imbalance. After the Spring Festival, there is a new round of bidding, and prices have shown a downward trend year-on-year. The confidence of manufacturers has decreased, and most factories in the south are still in a state of shutdown. The resumption of production time has not been determined yet. Most manufacturers in the north maintain full capacity production, and the overall inventory level in the market is relatively high. According to the commodity market analysis system of Business Society, the market price of silicon manganese in Ningxia region (specification FeMN68Si18) was around 5900-6050 yuan/ton on February 28th, with an average market price of 6011 yuan/ton, a decrease of 1.85% compared to the beginning of the month.