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 North American


During the second quarter of 2024, the North American sulphur market displayed mixed trends. In the first half of the quarter, the market exhibited a bullish momentum. The U.S. sulphur market faced challenges due to high inflation and the looming threat of a strike by the Canadian National Railway, which disrupted supply chains and pushed the sulphur market into a bullish scenario. Additionally, the ongoing planting season heightened demand from the downstream agrochemical sector, contributing to a supply shortage of sulphur.

However, the second half of the quarter marked a shift towards a declining trend. This downturn can be attributed to several key factors, primarily a significant oversupply of sulphur, which was exacerbated by high refinery throughputs and substantial inventory levels. Despite attempts to stabilize the market, demand from the agrochemical sector slowed due to the summer fertilizer off-season. In the U.S., market prices fell by 7% compared to the same quarter the previous year but saw a 2.85% increase from the previous quarter in 2024. By the end of the quarter, granular sulphur prices in the U.S. settled at USD 105 per metric ton (CFR-Texas).

Get Real Time Prices for Sulphur : https://www.chemanalyst.com/Pricing-data/sulphur-39

Asia-Pacific:

In the Asia-Pacific (APAC) region, the sulphur market also experienced mixed trends during Q2 2024, influenced by various factors. At the beginning of the quarter, sulphur prices rose due to strong demand from agrochemical companies and faster depletion of inventory levels, leading to a supply deficiency. Sinopec’s Puguang, China’s largest sulphur producer, raised its prices in Wanzhou and Dazhou. Furthermore, rising crude oil prices led to increased production costs for sulphur. However, the second half of the quarter saw a decline in prices, driven by subdued demand from the agrochemical sector amid the ongoing harvesting season. Although rising crude oil prices increased production costs, the ample inventory levels sufficiently met existing demand, resulting in a bearish market. Suppliers began reducing their ex-quotations to clear out excess stock. In China, significant price fluctuations were noted, and the market faced a marked decline, particularly influenced by the mid-year planting season, which did not stimulate demand as expected. Overall, China's sulphur market mirrored regional trends, experiencing a 32% decrease compared to the same quarter last year. Additionally, prices fell by 10% compared to the previous quarter in 2024, indicating persistent bearish market conditions. A comparison between the first and second halves of the quarter revealed a 4% drop, reinforcing the negative outlook. By the end of Q2 2024, the price of granular sulphur in China was USD 144 per metric ton (Ex-Shanghai), highlighting a declining pricing environment characterized by oversupply and weak demand.

Europe:

In Europe, the sulphur market in Q2 2024 displayed a mixed trend. During the first half of the quarter, sulphur prices increased as inventories struggled to meet rising demand from the agrochemical sectors. This was partly due to lower production levels resulting from refineries using sweeter crude feedstocks, compounded by logistical issues in the Red Sea and a ban on crude imports from Russia, which restricted access to sour inputs. The agrochemical sector's demand surged during this time, driven by economic pressures and the ongoing crop season in Germany. However, in the second half of Q2, the market turned bearish, primarily due to stable yet subdued demand from the agrochemical sector and sufficient inventory levels. Despite reduced production costs from declining crude oil prices, the market remained oversupplied, exerting downward pressure on sulphur prices. In Germany, the ongoing harvesting season led to moderate agrochemical demand, and combined with ample inventories, this prompted a cautious pricing approach among market participants. Sulphur prices in Germany fell by 11% compared to the same quarter last year, reflecting diminished market confidence and demand. However, compared to the previous quarter in 2024, prices increased by 9.33%. By the end of the quarter, sulphur prices settled at USD 76 per metric ton (Granular) FOB Hamburg.

Get Real Time Prices for Sulphur : https://www.chemanalyst.com/Pricing-data/sulphur-39

 

 

 

 

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