① Domestic sulfur production is estimated at approximately 217,200 tons for the week (October 9–15, 2026), a decrease of 1.33% compared to the previous period.
② National port inventory levels stood at 1,123,500 tons, an increase of 10.18% from last Thursday.
③ The industry capacity utilization rate for monoammonium phosphate was 41.36% this week, down 4.58 percentage points from last Thursday. For diammonium phosphate, the capacity utilization rate was 43.33%, up 1.48 percentage points from last Thursday.
| Figure 1: Trend of Domestic Sulfur Port Spot Index Prices (Unit: CNY/ton) |
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| Data Source: Chempricehub Information |
The domestic sulfur market experienced sluggish performance this week. As of now, the mainstream granular price at Zhenjiang Port was 6,600 CNY/ton, a drop of 500 CNY/ton or 7.04% compared to last Thursday’s price. On the international front, spot prices continued to weaken. Reports indicated that some sulfur resources shipped to Brazil were priced as low as CFR $950/ton. Buyers in India and Indonesia showed interest at CFR $875–900/ton, followed by rumors of transactions in Indonesia around CFR $880/ton. Regarding China, there have been no substantive negotiation updates.
Domestically, initial weakness in USD-denominated offers led existing inquiries to test lower prices. Holders remained calm with no significant fluctuations in sporadic small-lot transaction prices. However, trading sentiment remained persistently cold, with holders largely waiting passively. Under pressure on market psychology, the price center shifted downward. Subsequently, domestic enterprises sought to reduce inventories, leading to obvious declines in their resource quotations. Influenced by this, port merchants retreated into a wait-and-see mode. The lackluster trading activity forced the market price center to continuously follow the downward trend.
Table 1: Comparison of Domestic Sulfur Port Prices (Unit: CNY/ton)
| Market | Model | 2026/10/8 | 2026/10/15 | Change | % Change |
|---|---|---|---|---|---|
| Zhenjiang Port | Granular | 7100 | 6600 | -500 | -7.04% |
| Dafeng Port | Granular | 7080 | 6580 | -500 | -7.06% |
| Data Source: Chempricehub Information |
① Puguang Wanzhou has temporarily suspended external quotations.
② As of October 15, port inventory levels in the Yangtze River region were 301,000 tons, a decrease of 0.66% from last Thursday.
Currently, dragged down by sustained weakness in USD-denominated markets and very limited release of domestic rigid demand, most market participants lack confidence in holding positions. A wait-and-see attitude following market trends is likely to persist. In spot trading, potential sellers are likely to be the few long-term contract suppliers; their subsequent stance and operational tendencies warrant attention. Barring any unexpected developments, the market is expected to continue trending downward.
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