Chinese domestic sulphur prices rose sharply today following the escalation of conflict between the US and Iran over the weekend.
Domestic prices jumped to 4,250 yuan/t ex-works following a concluded sale, which is equivalent to around $531/t cfr on an import parity basis, up by around 5pc from Yn4,045-4,055/t ex-works on 27 February. Argus last assessed granular sulphur cfr China at $512-515/t cfr on 27 February.
Offers were indicated at Yn4,300/t ex-works in both the paper market and spot trade. Some buyers remain reluctant to conclude new business, however, opting instead to wait for clearer signals on Middle East supply.
China is the world's largest importer of sulphur. It imported 9.61mn t in 2025, of which 3.82mn t or just under 40pc originated from the UAE, Saudi Arabia, Kuwait, Oman and Iran.
Market concerns are intensifying that prolonged instability in the region could trigger supply shortages, given roughly half of global seaborne sulphur originates from the Middle East. There may also be shipment delays for cargoes headed to nickel producers in Indonesia, market participants said, although this has not been confirmed.
