Weekly Outlook for the Sulfur Market

1. Market Review

Last week, the transaction price for imported granular sulfur was 7,075 RMB/ton, a decrease of 25 RMB/ton from the previous period (a decline of 0.35%). Intent buyers continued to press for lower prices, exerting pressure on market sentiment and causing the market center to shift downward. The Shandong liquid sulfur market fluctuated sideways last week, with local refinery auction transactions closing at 7,400–7,505 RMB/ton. Driven by weakness in the solid sulfur market and rumors of low-priced transactions at liquid ports, downstream participation in auctions remained weak. Resistance to high prices increased, leading to frequent failed auctions and sluggish trading activity. In Northwest China, trading momentum slowed, with mainstream transaction prices ranging from 6,450 to 7,000 RMB/ton. Liquid sulfur prices in Northeast China remained stable, with mainstream prices between 7,300 and 7,316 RMB/ton. Currently, buyer and seller sentiments are tense amid the delivery period. Short-term prices may consolidate at high levels, with most market participants adopting a wait-and-see approach.

2. Market Focus Points

① Domestic resources: On October 10, the average price for domestic solid sulfur was 6,995 RMB/ton, and for liquid sulfur, it was 7,440 RMB/ton.

② Inventory: On October 10, China's port inventory of sulfur stood at 1.0912 million tons, a decrease of 0.0018 million tons compared to the previous period.

③ International markets: Demand for sulfur persists in Southeast Asian and Indian markets, as well as North African markets. Buyers are largely anticipating prices below USD 900/ton, though no confirmed transactions have been reported yet.

④ Downstream operations: Operating rates for sulfuric acid producers using sulfur in Brazil and China remain low. Most companies are currently purchasing significant volumes of sulfuric acid to meet their demand requirements.

3. Price Table

Table 1: Sulfur and Downstream Product Prices (Unit: RMB/ton)

Data Source: Chempricehub
Notes:

1. Prices listed represent the average mainstream market prices for each region, published before 16:30 on working days.

2. Listed prices are ex-warehouse, cash-in-hand, tax-inclusive.

3. Data Calendar

Table 2: Domestic Sulfur Market Data Overview (Unit: Million Tons)

Data Source: Chempricehub
Notes:

1. ↓↑ indicates significant fluctuations, highlighting data points with changes exceeding 3%.

2. ↗↘ indicates narrow-range fluctuations, highlighting data points with changes within 0–3%.

3. Sample Description

① The Yangtze River market price for sulfur refers to the reference pickup price for granular sulfur at Zhenjiang Port (Unit: RMB/ton). Daily sulfur production reflects the aggregate daily output statistics of national sulfur producers (Unit: Million Tons).

② Sulfuric acid price refers to the delivered plant price for 98% smelter-grade acid in Hubei. MAP price is the ex-factory quotation for 55% powder grade from traders in Hubei. DAP price is the mainstream ex-warehouse price for 64% granular grade in North China (Unit: RMB/ton). Caprolactam price refers to the liquid grade acceptance-for-delivery price in East China (Unit: RMB/ton). Titanium dioxide price refers to rutile grade in Southwest China. Phosphoric acid price refers to 85% wet-process purified phosphoric acid in Southwest China. Iron phosphate price refers to doped type.

③ Reports are released before 08:30 on working days. Percentage changes are calculated against the previous working day's prices. For reference only.