During second half of November 2025, India's Sulphuric Acid market showed mixed dynamics, with prices spiking 5.08% in 3rd week. The bullish trend was driven by tight prompt availability and strong downstream fertilizer pull, before stabilizing flat in the 4th week amid balanced supply demand. All domestic smelters/refineries for elemental Sulphur supply, energy prices remaining the same, and unchanged customs laws provided an underlying counter-support to the market. As a result of all these dynamics, the market conditions continue to lead to increased levels of demand for sulphuric acid from fertilizer manufacturers, while ensuring that there remain sufficient raw material input costs associated with the manufacturing of sulphuric acid.
During Week 3 of November 2025, prices of Indian sulphuric acid increased by 5.08%, which has continued bullish trend for 12 weeks EMA as a result of Limited Availability and Downstream Strength. There was no movement during the fourth week. In contrast to the rapid rising trend, there was a balance of supply and demand and stable inputs during this time; thus, there was little movement in price during this period.
During second half of November 2025, demand for sulphuric acid in India was very strong due to the urgency from the Fertilizer Sector (Fertilizers & Chemicals Travancore Ltd), which was reflected that inventories were depleted and highlighting an aggressive restocking situation. Agrochemical and industrial demand strengthened due to downstream needs and lean merchant stock levels across the country, resulting in increased procurement activity when inventory levels were still basically balanced four weeks after the initial freight arrival of Sulphur from GCC producers in early November. Supply was constrained during 3rd week due to prompt availability issues; however, there were no major disruptions, and therefore, supply/demand remained in equilibrium at the end of the week due to the availability of elemental Sulphur from smelters/refineries, stable energy tariffs, and unchanged customs duties.
Domestically produced sulphuric acid met the Basic Needs/Primary Requirement of the market; however, to maintain availability of sulphuric acid, additional sulphuric acid imports were made via CFR Kandla due to Limited Availability of Sulphuric Acid within India. The Combination Of these Explanations created a balance between the Urgency for Fertilizer Drawdowns with Moderated Input Supply Supports. Therefore, there was increased and sustained "Bullish Resilience" in the Import-Dependent Market of India.
As per ChemAnalyst anticipation, Indian sulphuric acid market is projected to hold steady until December 2025, which may be supported by the tight fertilizer purchase and inventory situation that continues to create upward pressure notwithstanding a balanced input situation. The three main factors may be the tender monitoring, feedstocks moving through and customs stability, with a possibility of fast tracking causing a re-acceleration in price spikes for Sulphuric Acid. The strong set of 12-week trend lines may keep the market resilient even with the favourable conditions within the agrochemical segment.
