Shengyishe published its September 30 sulfur trend note via Sina Finance at 08:44 China time, describing a pullback signal with a mildly bullish bias after 5-day, 10-day, and 20-day 均差 moves of (+, -, +) versus the prior session.
The table put 5-day 均差 at 23.33 versus 13.34, 10-day at 4.33 versus 6.00, and 20-day at -134.44 versus -168.37, with the desk conclusion set to oscillation rather than a clean up or down trend. The note cited September 29 Shandong Lihua Yitan list prices up 50 yuan per tonne as spot support.
Position bands placed 60-day and three-month prices in the first (low) tier for limited near-term downside while the one-year band sat in the fourth (mid-high) tier for capped upside. Open methodology commentary republished on a finance portal;