Operation Analysis of China's Sulfuric Acid Market in the First Half of 2022
2022-09-03
In the first half of 2022, the domestic sulfuric acid market fluctuated sharply, and the domestic price was much higher than the average level in the past five years. In the first half of the year, the high price of sulfuric acid was in April, and the average price of 98% was 1070 yuan/ton, which was also the highest price in the past 14 years. The low point was in January, and the average price of 98% acid was 517 yuan/ton.
2022In the first half of the year, the domestic sulfuric acid market put into operation 2.52 million tons/year, the production capacity base increased to 130.22 million tons/year, but the new plant production time concentrated at the end of the second quarter, the new plant production stability is poor, full load production is basically at the end of the first half or the beginning of the second half of the year.2022In the first half of the year, China's sulfuric acid plant production was 45.6455 million tons, +0.42% month-on-month, +3.23% YoY. The average capacity utilization rate in the first half of the year was 70.22 percent, compared with -0.80 percent month-on-month and -1.10 percent year-on-year.
2022In the first half of the year, the domestic apparent consumption of sulfuric acid was 45.3145 million tons, 0.31 tons month-on-month, up 2.48 percent year-on-year. The peak season for consumption is at the end of the first quarter and the beginning of the second quarter. The main downstream phosphate fertilizer is driven by domestic and foreign demand, and the enthusiasm for construction is high, and the demand has maintained steady growth. However, at the end of the second quarter, with the end of the fertilizer season, the traditional off-season hit, and the export policy still showed no signs of easing, demand began to decline.
Domestic sulfuric acid production is expected to increase slightly in the second half of 2022 compared with the first half of the year, at about 4.796 million tons. The situation of imported sulfuric acid will not fluctuate significantly compared with the first half of the year. It is expected to be 143800 tons. The export volume will maintain growth under international demand and is expected to reach 2.583 million tons in the second half of the year. The downstream demand situation has achieved significant growth in the autumn fertilizer season, and the downstream consumption is expected to reach 45.1698 million tons.
2022In the second half of the year, with the end of centralized maintenance and the new capacity of the market, the domestic supply of sulfuric acid again appeared surplus state. The demand side fertilizer export news is confusing, chemical, chemical fiber products have always maintained a weak state, supply and demand relationship or further deterioration. At the same time consider the raw material sulfur prices continue to decline, sulfur acid cost end support or continue to weaken. Multi-factor consideration, 2022 sulfuric acid market volatility downward probability is greater.
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