Uncertainties persist in the international landscape; short-term sulfur prices likely to fluctuate at high levels.

1. Overview of the International Sulfur Market:

During this period, the international sulfur market remained firm at high levels.
Although navigation through the Strait of Hormuz has largely resumed—allowing multiple sulfur-carrying vessels to pass—spot supplies remain scarce, offering only limited market relief. Sulfur inventories in key consuming regions such as China, Indonesia, and Morocco remain extremely low. Additionally, operating rates for sulfur producers in the Middle East are far below normal levels, and supplies from Kazakhstan remain interrupted; the tight supply pattern is unlikely to change in the short term, making a significant drop in sulfur prices improbable. The recovery of supply volumes is proceeding extremely slowly, and the underlying tight supply situation persists, providing a floor for market prices.

Prices for downstream sulfur-related products generally rose compared to the previous week. Specifically, market prices for sulfuric acid, monoammonium phosphate (MAP), and diammonium phosphate (DAP) increased, while prices for titanium dioxide and caprolactam declined.

Capacity utilization rates across the sulfur industry chain generally declined compared to the previous week.
As of June 25, capacity utilization rates were as follows: sulfuric acid industry at 61.43% (down 0.90% week-on-week); titanium dioxide industry at 74.47% (down 0.15%); DAP industry at 33.97% (down 0.04%); MAP industry at 53.08% (up 4.92%); and caprolactam industry at 69.07% (up 1.17%).

2. Market Outlook:

Despite the resumption of navigation in the Strait of Hormuz, uncertainties regarding the international geopolitical situation remain, including the possibility of a return to selective passage. Coupled with low sulfur inventories at domestic ports and tight domestic supplies, these factors provide some bullish support for the market. However, market participants remain cautious and are largely in a "wait-and-see" mode, resulting in subdued spot trading activity. Given the mix of bullish and bearish factors, sulfur prices at ports are expected to fluctuate at high levels in the short term. The content and images in this article are sourced from the internet; copyright belongs to the original authors. Please contact us for removal in the event of any copyright infringement. This article is intended solely for general information exchange and does not constitute commercial promotion or advertising for any product or service; no revenue has been generated from it.