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P4 keeps down, Sulfur & Urea fluctuates Yellow phosphorus: price kept declining last week. The avg. price fell from CNY26,463/t to CNY26,163/t. Entering rainy season, lower electricity power cost in southwest China lifted plant operation rate and boosted supply. Downstream phosphoric acid and glyphosate factories start summer maintenance, slashing rigid demand, while traders cut price to destock. Though sulfur high price offered cost support, yet loose supply-demand balance […]

SULFUR: HISTORICAL HIGH IN H1, LINGERING GEOPOLITICAL TENSION IMPACT General Market Performance In H1 2026, Middle East conflicts disrupted global sulfur supply and demand, pushing domestic sulfur prices to historical highs. Lingering geopolitical tension and slow supply recovery will keep impacting the market. Since March, shipping restrictions in the Strait of Hormuz disrupted chemical and fertilizer supply chains, fueling

Raw materials: Since June, sulfur and liquid ammonia prices have retreated after surging, while sulfuric acid kept climbing, forming solid cost support for TMAP. Sulfur price dipped slightly as some sellers cut offers, but later renewed geopolitical risks in the Middle East prompted holders to firm prices, keeping sulfur high and volatile. Restricted phosphate ore mining keeps

Sulfur prices rallied sharply and then corrected downward in June. Supported by volatile international geopolitics and consistently low port inventories, sulfur Zhenjiang Port price soared from CNY7,480/t to CNY11,750/t.Subsequently, high raw material costs pressured downstream sectors, dampening production willingness and rigid demand procurement. Prevailing wait-and-see sentiment and sluggish real transactions triggered a rapid price fallback. In late

China’s slumping sulfur imports driven by Middle East geopolitical shipping disruptions and tight global supply Core Customs Data In May 2026, China imported 268,300 tons of sulfur, down 9.20% month-on-month and a sharp 66.41% year-on-year. Cumulative imports from January to May hit 2.1154 million tons, halving by 51.44% versus 2025. Monthly imports have posted steep

Phosphate Ore: the phosphate ore market shows obvious differentiation. Supply of yellow phosphorus remains tight with high prices due to tight supplies in Yun’nan, while weak downstream production cuts drag trading of wet-process phosphoric acid. Mine output is reduced by safety inspections and mining right issues across regions. Downstream wet-process acid plants operation rate is

·  Sulfur: The price skyrocketed from CNY9,600/t to CNY11,600/t,rise above CNY2000/t within the week. Tight import from Middle East, historic low port inventory and rigid procurement by phosphate fertilizer enterprises supported the rally, while traders’ reluctance to sell further tightened spot supply. ·  Yellow phosphorus: The mainstream transaction price rose to CNY34,000-34,500/t, with benchmark price of CNY34,462/t. Driven by

·  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

FERTILIZER MARKET WEEKLY OUTLOOK & PRICE TRENDS ·  Yellow Phosphorus: The price has been rising continuously in a single direction, with a weekly increase of about 9.3%. The price has soared from about CNY29,700/t to CNY33,962/t. P4 price sharply rose CNY1,500/t in Yun’nan on May.22 single-day. The reason is the increase in the price of upstream

·  Yellow phosphorus: The price showed an upward – trend. The benchmark price of yellow phosphorus rises from CNY28,896/t to CNY31,296/t in the week. After the May Day holiday, the demand-side replenishment follows up to support suppliers with new orders. The tight – balance of phosphate rock supply supports the high price of yellow phosphorus. ·  Sulfur: The price continues to rise rapidly. The benchmark price