Some Copper Smelters Even Sell Sulphuric Acid For Free To Ease Mounting Inventory Pressure

SHANGHAI, May 9 (SMM) - In April, the domestic sulphuric acid market continued its downward trend, with prices across the country dropping significantly. Sharply falling operating rates of downstream phosphate fertiliser plants led to poor shipments of sulphuric acid by copper smelters in central and east China, such as Hubei, Anhui, Jiangxi and surrounding areas, pushing up the inventory of smelters. In order to alleviate the mounting inventory pressure, some smelters even sold sulphuric acid for free. Sulphuric acid prices fell across many parts of north-west China. In particular, sulphuric acid prices in Shaanxi kept falling and the local shipments were poor. Sulphuric acid shipments to Sichuan also decreased significantly due to the decline in downstream operating rates. The sulphuric acid market in east China remained sluggish. Cheaper sulphuric acid from other regions and slack demand in nearby regions forced major smelters to lower their sulphuric acid prices sharply.