Section: CRUSU Market Intelligence

Maria Mosquera, Editor of the Argus Sulphur Report and Liliana Minton, Editor of the Argus Sulphuric Acid Report at Argus Media assess price trends and the market outlook for sulphur and sulphuric acid.

New supply is weighing on the market. In addition to increased exports in the second half of the year from upgrades and new refining projects from the Middle East, crushed lump sulphur is also again entering the market in higher quantities from both the FSU and the Middle East, and displacing granular product in some markets, notably Morocco and China.

Meena Chauhan, Head of Sulphur and Sulphuric Acid Research, Argus Media, assesses price trends and the market outlook for sulphur.

Indonesian imports have increased in 2023 so far on a year earlier. As new nickel high pressure acid leach projects ramp up, demand for sulphur is expected to increase further. Swing buyers have been importing significant volumes of sulphuric acid, affecting short term sulphur demand in the second quarter. It remains to be seen if this will continue, we expect sulphur demand to ramp up further in the second half of the year, bringing import expectations for the year to around 2 million t.

New sulphur burning capacity in India is expected to come online in the coming months at fertilizer producer operations. This will lead to an increase in sulphur import demand but also impact sulphuric acid imports to the country.

Meena Chauhan , Head of Sulphur and Sulphuric Acid Research, Argus Media, assesses price trends and the market outlook for sulphur.

Chinese domestic sulphur supply growth remains strong. Production is expected to rise in 2023, putting pressure on import demand potential. In 2022 total imports were 7.6 million tonnes, with a stable view for the year ahead.

Meena Chauhan , Head of Sulphur and Sulphuric Acid Research, Argus Media, assesses price trends and the market outlook for sulphur.

Processed phosphates pricing will be a major influence in the coming months. A gap remains between historical levels of sulphur and DAP pricing that points to the potential for sulphur prices to recover to higher levels during 2023.

Meena Chauhan, Head of Sulphur and Sulphuric Acid Research, Argus Media, assesses price trends and the market outlook for sulphur.