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.
Global fertilizer affordability near three-year low
Global fertilizer affordability near three-year low
London, 2 July (Argus) — Global affordability for fertilizers has dropped to its lowest in nearly three years on a sustained increase in fertilizer prices — as strong global demand competes for limited supply — while crop values have dipped to the lowest since September 2020. Nutrient affordability fell to 0.75 points in June, the lowest since September 2022, Argus data show. 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 fell in June owing to higher fertilizer prices for phosphates while an increase in urea prices in June added further support to the index. The Israel-Iran conflict firmed market sentiment across all nutrients in June, which has also added some volatility to freight rates. Phosphate prices saw the largest gains, with June prices at the highest since September 2022 on persistent demand from India in the absence of inflows of Chinese DAP supply. DAP prices have kept moving up as tight supply has kept driving the market at both sides of the Suez Canal. Chinese suppliers have been sitting comfortably with limited supply availability, which enabled them to increase offers in the face of African and southeast Asian demand. In the west, buyers have been struggling to secure limited MAP supply, also supporting prices. On potash, MOP prices have reached the highest in two years driven by geopolitical uncertainty and robust demand in all major markets, particularly in southeast Asia, where affordability levels have been supported by excellent palm oil prices. Meanwhile, on the potash supply side, availability was expected to be reduced from three major producers — Uralkali, Belaruskali and Eurochem — as they underwent maintenance works. Together, these works were expected to reduce MOP output by 1.3mn t across the first half of the year, further underpinning prices. Urea prices rose to the highest in four months as the Middle East conflict pushed prices up on output curtailment while strong fundamentals — driven by Indian demand — continued to support prices. On the other hand, the crop index — which includes global prices for corn, wheat, rice and soybeans adjusted by output volumes — have fallen to a near five-year low. By Lili Minton and Elena Mataro Global fertilizer affordability index Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Moroccan sulphur imports down by 14pc in Jan-Apr
Moroccan sulphur imports down by 14pc in Jan-Apr
London, 1 July (Argus) — Sulphur imports for Morocco's fertilizer producer OCP dropped in January-April to 2.25mn t. This is a drop of 14pc or 247,000t on the same period last year, with sulphur stock levels understood to be high from the substantial import line up accrued over the second half of 2024. Imports relied heavily on Kazakhstan, with 1.06mn t or 47pc of all imports from Kazakh production. Meanwhile UAE imports totalled 755,000t or 34pc. A quantity of 293,000t of Saudi Arabian sulphur also arrived in the period, making up 13pc of all imports. Last year sulphur imports reached a record high of 8.3mn t, but 2025 import quantities are expected to be lower, with some of the imported quantity last year contributing to stock build up as new sulphur burning capacity came online and is expected to continue to be added to. A further sulphur burner adding 187,000t/y sulphur consumption is expected to start mid-2026 at Jorf Lasfar, part of an integrated phosphoric acid plant. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
QatarEnergy Marketing cuts July sulphur price by $28/t
QatarEnergy Marketing cuts July sulphur price by $28/t
London, 30 June (Argus) — State-owned QatarEnergy Marketing has cut its July Qatar Sulphur Price (QSP) to $258/t fob, down by $28/t from $286/t fob Ras Laffan/Mesaieed for June. The July QSP implies a delivered price to China of $280-287/t cfr at current freight rates that were assessed on 26 June at $22-25/t to south China and $26-29/t to Chinese river ports for a 30,000-35,000t shipment. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
China sulacid exports reach record in Jan-May
China sulacid exports reach record in Jan-May
London, 23 June (Argus) — China's sulphuric acid exports hit a record high for the period in January-May, driven by greater acid availability following the expansion of smelting capacity and strong fob prices. China exported 1.8mn t of sulphuric acid in January-May, more than double the 870,000t exported a year earlier, customs data show. The previous high for January-May was in 2022, at 1.7mn t. China's smelting capacity has risen this year, notably with the launch of Tongling Nonferrous' 500,000 t/yr Jinxin copper smelter in Tongling city in east China's Anhui province on 26 March. Exports are expected to remain buoyant, with smelting capacity rising by over 1mn t/yr in 2025, according to industry estimates. Additional support came from firmer Chinese fob prices in January-May, driven by tight spot availability from Asian suppliers — mainly South Korean and Japanese — as a lack of metal concentrates and maintenance outages limited production. Global copper concentrate supply is expected to remain tight this year, weighing on copper concentrate treatment and refining charges. Chile was the main recipient of Chinese acid in January-May, taking 715,000t, up by 56pc on the year. Exports to Indonesia and Saudi Arabia rose sharply — to 216,000t and 195,000t, respectively, up from 50,000t each a year earlier. Morocco received 176,000t, more than doubling its 81,000t take a year earlier. By Lili Minton China exports vs fob price Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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