Sulphur and Sulphuric acid
Overview
The global sulphur market has gone through fundamental changes in buying patterns, trade routes and pricing over the past few years. Fixed price contracts and formula-based indexation have become the dominant ways in which supplies are bought and sold around the world, which makes accurate price assessments and detailed analysis key to any sulphur market participants.
The global sulphuric acid industry has seen structural change in recent years and new capacities will continue to challenge the balance in the years to come. While demand will be driven by fertilizers — predominantly the increased production of phosphate and ammonium sulphates — the market will continue to be exposed to short-term supply shocks, especially from the metals sector.
Rising demand for battery materials such as nickel and cobalt (due to growing electric vehicle production) will in turn bolster demand for sulphur and sulphuric acid, increase competition for supply and impact pricing.
Our extensive market coverage includes formed sulphur (both granular and prilled), crushed lump sulphur, molten/liquid sulphur and sulphuric acid. Argus has decades of experience covering these markets, and incorporate our multi-commodity market expertise in key areas including phosphates and metals to provide the full market narrative.
Argus support market participants with:
- Price assessments (daily and weekly for sulphur, weekly for sulphuric acid), proprietary data and market commentary assessments
- Short and medium to long-term forecasting, modelling and analysis of sulphur and sulphuric acid prices, supply, demand, trade and projects
- Bespoke consulting project support
Latest sulphur and sulphuric acid news
Browse the latest market moving news on the global sulphur and sulphuric acid industry.
Australia faces uncertainty over 2027 phosphate prices
Australia faces uncertainty over 2027 phosphate prices
Sydney, 24 September (Argus) — The ongoing conflict in the Middle East is fuelling concerns over phosphate supply and pricing in Australia ahead of the 2027 winter cropping season. Australian importers typically organise the first MAP/DAP shipments of the season for November loading, but high prices and bearish sentiment in the global market are encouraging importers to delay purchases. Some domestic buyers are responding to the conflict by locking in MAP/DAP and urea cargoes for early-2027 collection , while pricing uncertainty is prompting others to sit back from the market until growers require product, suppliers said. Australia's lack of seasonal demand for MAP/DAP since the war began has shielded domestic prices from some of the global price increases, but if importers were to buy at current levels, they will need to increase offers domestically. While global phosphate prices have softened in recent weeks, levels remain elevated when compared to corrections seen for nitrogen and potash. Many Australian buyers continue to see phosphates as unaffordable. MAP prices have risen significantly since November buying last year. Argus last assessed MAP at $802-836/t fob Saudi Arabia, a 28pc increase from the start of November last year. ( See chart ) The Middle East is not only a key source of fertilizer for Australia , but also accounts for a large proportion of the global sulphur supply , which is a key component in phosphate production. High sulphur prices have supported phosphate production costs. Australia imported about 30pc of its MAP/DAP from Saudi Arabia via the strait of Hormuz in 2025, trade data from the Australian Bureau of Statistics (ABS) show. With the ongoing price volatility, Australian farmers will remain cautious heading into the next buying season, National Farmers Federation told Argus on 22 September. Domestic sellers and buyers grew cautious earlier this year after a sudden drop in domestic urea prices left some market participants with high priced stock. Farmers are also facing firm fuel prices and are watching these very closely, Grain Growers chief executive Shona Gawel told Argus on 22 September. "At this stage, the issue is volatility rather than supply. Markets can react to geopolitical tension long before there are actual shortages, which can quickly affect fuel, freight and fertiliser costs," Gawel said. Supply options There is product available in the global market for Australian importers, but risks have increased in terms of pricing and timing, Western Australian importer CSBP said in a market update on 16 September. Australia sources MAP/DAP from Saudi Arabia, Morocco, China and the US, ABS data show, but there are supply restraints on most of these origins. Australian importers are considering western Saudi Arabian ports for fertilizer imports given the war has blocked off regular east coast trade. But the latest escalation of tensions around the Bab el-Mandeb has put more strain on this option. No vessels have been confirmed for this route, and Australia's last fertilizer import from Saudi Arabia arrived in late July, vessel tracking data from Kpler show. Australia's MAP/DAP stocks remain sufficient to meet current prompt demand despite slower imports so far this year, market participants said. By Susannah Cornford Australian import price comparison Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Zimbabwe secures funds for key commodity gateway
Zimbabwe secures funds for key commodity gateway
London, 23 September (Argus) — The Zimbabwe transport and infrastructural development ministry and the Chirundu Border Consortium (CBC) have reached financial close on the upgrade of a key commodity transit route on the border with Zambia. The establishing of financing arrangements by the ministry and private-sector firms in the CBC to develop the Chirundu Border Post will pave the way for construction work on a key transit route for copper, cobalt, fertilizers and mining supplies moving between central and southern Africa, the partners said this week. The Chirundu crossing is a critical link on the North-South Corridor, connecting the Zambia-Democratic Republic of Congo Copperbelt with ports in South Africa and Mozambique. The route is widely used to export copper and cobalt concentrates and refined metal, as well as imports of mining equipment, reagents, fuel, sulphur and fertilizers. The upgrade intends to reduce congestion and transit delays at one of the region's busiest border crossings by replacing ageing infrastructure and introducing new processing and operational systems. Frequent traffic problems such as border queues and bottlenecks have increased logistics costs and delivery times for commodities moving through the corridor. The project will improve freight flows, strengthen regional trade connectivity and enhance the efficiency of cargo movements between southern African ports and inland markets, Zimbabwe's transport and infrastructural development ministry said. The ministry did not disclose the final value of the financing package. Zimbabwe's cabinet previously estimated the project would require investment of around $66.8mn and would operate under a 20-year concession arrangement with private investors. The project is currently led by Safaga International, which was also involved in the modernisation of the Beitbridge border post between Zimbabwe and South Africa, alongside investors including South Africa-based Strategic Partners Group. Standard Bank of South Africa and Stanbic Bank Zimbabwe are among the financial institutions backing the development. By Lauren Hadeed and Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
No quick fix for high US sulfur prices
No quick fix for high US sulfur prices
Houston, 18 September (Argus) — Government efforts to reduce costs for US sulfur consumers would not be as simple as incentivizing rail shipments, while export controls could worsen the conditions that have driven prices to record highs. Florida lawmakers recently expressed concern about high sulfur prices in a letter to the White House after prices hit a record high with the third quarter Tampa settlement at $705/long tonne (lt) delivered. Those prices have led to cutbacks in phosphate fertilizer production. The US Department of Agriculture and the Department of Transportation have floated the possibility of using railroads to better move domestic sulfur supplies, or providing incentives to keep sulfur in the US in an effort to address farmer affordability issues. Many of the refineries on the US Gulf coast — the main source of sulfur production and exports in the US — are not serviced by rail and rely on trucks to deliver sulfur to local customers and terminals. Because of this, such efforts would likely do little to address fundamental logistical limitations of the US sulfur market. US sulfur production in 2025 totaled 7.48mn t, 59pc of which came from the Gulf coast, while consumption reached 7.61mn t, according to the US Geological Survey . Similarly on the west coast, a lack of rail infrastructure encourages sulfur exports, regardless of where prices sit. Exports from both regions, because of domestic logistical limitations, essentially serve to balance the US market. The balance of sulfur that supplies many inland US customers mostly comes from Canada, shipped in molten form by rail. The US in January-July 2026 imported 1.08mn t of sulfur from Canada, more than double the volume from the same period a year earlier, accounting for more than 99pc of total imports so far in 2026. Overall, sulfur imports are up by more than 43pc on the year despite the steady threat of tariffs on Canadian sulfur. Although Canadian sulfur has remained exempt because of its eligibility under the US-Mexico-Canada trade agreement, the threat of tariffs remains a concern as relations between the US and Canada have deteriorated. Although considered unlikely by most market participants, any duties levied on Canadian sulfur would only raise domestic prices and place further strain on consumers. Global markets driving sulfur costs A severe imbalance in the global sulfur market, driven mostly by demand-induced deficits that began in 2025, has shifted to a substantial supply-driven deficit in 2026 resulting from the ongoing war in the Mideast. At the beginning of the US-Israel with Iran, attacks on vessels severely cut shipments through the strait of Hormuz, impacting around 50pc of globally-traded sulfur. Prices at the US Gulf coast increased from a midpoint of $491/t fob on 26 February to a high of $1,175/t fob on 13 August, supported by war-driven export demand. Export prices in the US Gulf since mid-August have fallen, reaching a midpoint of $1,025/t fob on 17 September. Weaker demand and buyer resistance, mostly from fertilizer and nickel producers, has applied pressure on suppliers and driven prices lower. The war in the Middle East and its impact on supply and freight rates has been the primary driver of the sulfur price rally in 2026. Even if the war were to end imminently, elevated prices would likely linger through at least the end of the year because of damage to production facilities, terminals and infrastructure in the region. But even prior to the war in the Middle East, a global supply deficit tightened markets during the second half of 2025. Surging demand from nickel producers in Indonesia and copper producers in sub-Saharan Africa drove prices to historically elevated levels, despite steady supply. An export ban implemented by Russia beginning in the fourth quarter of 2025 marked the first constraint on supply, squeezing an already undersupplied market. Any suspension of exports from the US would only tighten markets further and is raise global prices, placing more strain on the global economy. Removing the ability for US producers to export would also impact refinery operations because of the lack of storage across US infrastructure. Some estimate that if there were a moratorium on sulfur exports, refineries would have to greatly reduce their operating rates. By Chris Mullins Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Abu Dhabi's Adnoc drops Sep sulphur price by $40/t
Abu Dhabi's Adnoc drops Sep sulphur price by $40/t
London, 3 September (Argus) — Abu Dhabi's state-owned Adnoc has lowered its September sulphur official selling price (OSP) for the Indian subcontinent to $960/t fob Ruwais, down from its $1,000/t fob August OSP. Adnoc's September OSP implies a delivered price of $1,100-1,102/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east coast of India last assessed at $140-142/t on 27 August. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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