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.
QatarEnergy raises December sulphur price by $95/t
QatarEnergy raises December sulphur price by $95/t
London, 30 November (Argus) — State-owned QatarEnergy Marketing has raised its December Qatar Sulphur Price (QSP) to $495/t fob, up by a substantial $95/t from $400/t fob Ras Laffan/Mesaieed for November. The December QSP implies a delivered price to China of $517-521/t cfr at current freight rates, which were assessed on 27 November at $22-24/t to south China and at $24-26/t to Chinese river ports for a 30,000-35,000t shipment. The December QSP has now surpassed the highest level seen during the commodity price peak in July 2022, when it reached $490/t fob. This was followed by a steep drop to $77/t fob in August 2022. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Turkey's Tupras awards sulphur e-tender for Dec loading
Turkey's Tupras awards sulphur e-tender for Dec loading
London, 27 November (Argus) — Turkish refiner Tupras on 25 November awarded part of its December-loading e-tender for 13,225t of sulphur in small lots priced at $483-488/t fca, sharply up from its previous October-loading tender at $323-339/t fca. The awards were as follows: From Izmit refinery for bulk, big bag or liquid form, 9,000t in lots of 25-1,200t priced at $484-488/t fca. From Izmir refinery for bulk form, 4,225t in lots of 50-700t priced at $483-488/t fca. From Kirikkale refinery, the volumes are said to be up to 2,500t and priced about $480/t cfr. Tupras has delayed its London tender of 8,000t of sulphur for November loading as a result of refinery maintenance. By Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
German sulphur user Kelheim to wind down operations
German sulphur user Kelheim to wind down operations
London, 25 November (Argus) — German sulphur consumer Kelheim Fibres will wind down its operations by the end of this year, the fibre producer has announced. Kelheim's 24 November announcement follows a failed sale to investment fund LEO III Fund, managed by Munich-based Dubag Group. A preliminary agreement was linked to Kelheim's ongoing insolvency process, with the sale falling through as a result of a lack of downstream supply contracts for 2026. Production will be phased out by 31 December 2025, with regular output unviable beyond the end of the year. Operations will cease completely unless further final commitments from downstream customers can be secured in a last-ditch attempt to allow a limited amount of output to continue. Southern Germany-based Kelheim Fibres is a small consumer of sulphur, and also supplies a small amount of excess sulphuric acid locally. The firm has faced lower availability from its usual sulphur supplier, Bayernoil's 97,000 t/yr sulphur capacity Vohburg-Neustadt refinery in Germany, following a fire in January that led to consistently lower operating rates at the plant. The continued viability of the chemical industry in western Europe remains a key concern going into 2026, with sulphur prices at a three-year peak and other raw material prices high, energy costs comparatively elevated and a lack of downstream demand preventing raw material price increases from being passed on to downstream customers. Competing lower-cost imports have also eroded demand for fibres produced in Europe. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Global fertilizer affordability recovers some ground
Global fertilizer affordability recovers some ground
London, 19 November (Argus) — Global fertilizer affordability remains weak at levels similar to those of September 2022, but has recovered slightly from a more than three-year low in August because of a fall in fertilizer prices. Nutrient affordability stood at 0.72 points in October, up from 0.69 in September and 0.61 in August, when it dropped to its lowest since April 2022, Argus data show. Global fertilizer affordability had been on a downward trend since January. An affordability index — comprising a fertilizer and crop index — above one indicates that fertilizers are more affordable compared with the base year set in 2004. An index below one indicates lower nutrient affordability. The fertilizer index in October crept up to just below June's levels at 0.74 points, driven by falling urea, phosphates and potash prices. But the crop index — which includes global prices for corn, wheat, rice and soybeans adjusted by output volumes — resumed its downward trend in October, having gained some ground in September, and crop prices are now as low as those of November 2019. Urea price falls were the heaviest in recent months, with fob Middle East prices in October down by over $100/t from recent highs in August, when they averaged just over $500/t fob. Prices fell as buyers hesitated in the face of renewed Chinese exports, which outweighed strong import demand from India. Most market participants remained cautious into October, largely because of the lack of clarity on potential fresh exports from China. But prices received support from the end of October onwards, driven by a flurry of buying in Europe ahead of the implementation of the EU's Carbon Border Adjustment Mechanism on 1 January. Phosphate prices began to decline earlier. Moroccan DAP export prices have now shed $93/t at the midpoint from a peak in early August averaging just under $800/t fob, their highest since October 2022. The seasonal decline in global demand going into the fourth quarter coupled with higher DAP inventories in key destination markets — notably India — and wide-ranging affordability concerns pressured prices. Brazilian buyers turned to more affordable NPs and superphosphates ahead of soybean applications, fostering a surplus of MAP that similarly weighed on prices. Potash prices have experienced a milder decline, dropping by only $6/t since hitting a 28-month high in August at $314/t. MOP demand has slowed in most major importing markets since July, with ample inventories likely to be able to cover the majority of demand for the rest of 2025. By Elena Mataro Global fertilizer affordability index Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Argus Fertilizer Market Highlights
The complimentary Argus Fertilizer Market Highlights package includes:
• Bi-weekly Fertilizer Newsletter
• Monthly Market Update Video
• Bi-monthly Fertilizer Focus Magazine
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Fertilizer Matters EP32: China's Purified Phosphoric Acid Market, June 2025
Video - 06/06/25Asia's sulphur and sulphuric acid markets
Watch analysis of market drivers, prices, supply, demand and the role of sulphur and sulphuric acid as key raw materials for phosphates and battery materials
