Domestic sulphur prices in China rose further today due to escalations over the weekend between the US, Israel and Iran.
Prices reached 4,650 yuan/t ($672/t) ex-works — equivalent to around $577/t cfr on an import parity basis — on the back of several concluded sales today. This reflects a 4pc increase in prices from Yn4,470/t ex-works on 6 March.
Further disruptions to sulphur production likely contributed to this increase. Bahrain's Bapco issued a force majeure on its operations after its 405,000 b/d Sitra refinery was hit in an attack linked to the ongoing US-Iran war. The refinery produces 210,000 t/yr of sulphur, according to Argus estimates.
