Demand remains weak, bromine prices will come under pressure and decline in September
2023/8/24
In July 2023, the import volume of bromine in China was 4844 tons, an increase of 78.8% month on month, and the average import price was 3103 US dollars/ton, a decrease of 25.3% month on month. Jordan has the largest import volume of 2919 tons, with an average import price of 3466 US dollars per ton. In the first half of the year, the domestic bromine market was dominated by weakness, but the import shortage experienced a sharp increase. Mainly influenced by factors such as unstable prices, delayed delivery of orders in May and June resulted in a concentration of orders arriving at the port in July, rather than strong domestic demand. At the same time, with weak domestic demand, the arrival of large quantities of bromine at the port will inevitably affect the price of domestic bromine.
From the perspective of enterprise registration, Shanghai is the main destination for imported resources, mainly for trade signing, followed by Shandong, with downstream signing being the main source. In July, the import volume of bromine in Shanghai was 2207 tons, accounting for 46% of the total, an increase of 146% compared to the previous month; The import volume of Shandong region is 1194 tons, accounting for 25% of the total, with a decrease of 13.5% month on month; The import volume of Zhejiang region is 1192 tons, accounting for 25% of the total, with a month on month increase of 210%; The import volume of Jiangsu region is 284 tons, accounting for 5% of the total. The sharp increase in imports this month is mainly due to the significant increase in imports from the Shanghai and Zhejiang regions.
Due to limitations in resources and production capacity, China's sources of bromine imports are relatively concentrated, mainly from Israel, Jordan, and Japan. The top ranked country is Jordan, with an import volume of 2919 tons, accounting for 60% of the total import volume, an increase of 236% month on month and a year-on-year increase of 223%. Next is Israel, with an import volume of 975 tons, accounting for 20% of the total import volume, a decrease of 8% month on month and 64% year-on-year. The third largest country is Japan, with an import volume of 524 tons, accounting for 11% and a month on month increase of 28%. The United States has imported bromine into China for the second time this year.
With the reduction of domestic bromine production, it is expected that the import volume in August will continue to increase, and there is still a possibility of doubling. It is expected to arrive in Hong Kong by the end of August and early September, and the specific price is unknown. With domestic demand still weak, the surge in imports will inevitably impact the domestic market, posing a risk of a decline in domestic bromine prices. It is expected that bromine prices will decline under pressure in September.
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