How is the sulfur price surge reshaping the yellow phosphorus vs. wet-process phosphoric acid cost landscape?
This sulfur-driven shift is a temporary reprieve for thermal acid producers, not a structural reversal. Wet-process purification technology continues to improve and will regain competitiveness once sulfur costs retreat. Smart players like Yuntianhua are positioning for both scenarios, using their captive yellow phosphorus capacity as a hedge during high-sulfur periods while expanding wet-process lines for the long term. The key metric to track is the price gap between thermal and purified wet-process acid.
