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上半年行情回顾上半年,硫黄市场在供需基本平衡的基础上,摆脱了2013年的低迷走势,创下了一轮典型的N字形修复行情。一季度开始,国内硫黄在社会库存降至低位时,延续了2013年的反弹势头继续冲高。继而在港口库存不断增长的同时,2月中旬价格创下了年内新高,主流成交价达到1500元(固体硫黄,吨价,下同),与年初相比上涨25%。随后受外盘走低、国内消费淡季、社会库存增大等因素影响,行情连续下滑调整,抵消了年初的上涨部分。一季度末在社会库存达到新高后,行情修复也逐渐接近尾声,主流成交价跌至950元,
Market Review in the First Half of the Year In the first half of the year, on the basis of the basic balance between supply and demand, the sulfur market got rid of the downturn in 2013 and set a round of typical N-shaped repair market. In the first quarter, domestic sulfur stocks continued their rebound in 2013 when the domestic stocks dropped to low levels. In the meantime, while the port stocks kept increasing, the price hit a new high for the year in mid-February. The mainstream price reached 1,500 yuan (solid sulfur, tonne, the same below), up 25% from the beginning of the year. Subsequent by the external disk lower, the domestic consumption off-season, increasing social stock and other factors, the market continued to slide adjustment, offset the beginning of the rising part. After the stock market reached a new high at the end of the first quarter, market repair gradually approached its end. The mainstream transaction price dropped to 950 yuan,