Market Wrap 2623
· Sulfur price corrected slightly to CNY7,300/t on easing Middle East situation expectations, then rebounded back to above CNY7,400/t end of May. Since early June, price skyrocketed from CNY7,517/t to CNY9,800/t in Shandong, with bulk transactions exceeding CNY10,000/t (+30.4%WoW). Port inventory dropped to 900kt (-55% YoY); Middle East import shipments plunged 67% than normal. Downstream fertilizer enterprises’ rigid production demand forced high-price […]