Upward Rally for Sulphur Quotations slows down yet remains stagger
- 29-Mar-2022 6:46 PM
- Journalist: Nicholas Seifield
The ongoing gyration in the commodity market showcases no sign of relief as the swinging Crude Oil offers persistent fluctuations in the Sulphur market. The producer's quotations in the last week soared tremendously resulting from the burst of the bubble created after the swindling market dynamics and peace talks between Russia and Ukraine. Whereas according to the customs data the Fujairah (UAE) bunkering volumes sales for Sulphur were dropped by 7%, and the western players keen to replace the Russian supplies were heavily focused on the Middle-East market.
Currently, the enormous growth rate retreated, although the market sentiments remain buoyed for the granular Sulphur due to the active inquiries across the region. Whereas, in China, the market shifted upwards slowly compared to the previous terms. The price adjustments range for Sulphur in the refineries varies between USD 3-8 per tonne, due to such variations the supplies are impacted significantly and low inventories at ports strengthened the will of producers and traders will that holds the adequate volume for the supplies of Sulphur.
The consolidated market of Sulphur levied its impact on the downstream Sulphuric Acid market in China, as some of the manufacturers are operating at lower rates amidst the resurgence of COVID that resulted in nationwide scrutiny in China. Whereas the downstream Formic Acid also witnessed significant tightness and the Bromine market offers were adjusted to a lower level and the procurement enthusiasm remains general.
As per ChemAnalyst, the Sulphur market is on a bullish trend amidst the gyration in the international Crude Oil market and the downstream market procurement enthusiasm remained healthy. Therefore, it is anticipated that the prices for Sulphur are likely to remain bullish in the upcoming period. Although several market participants were closely monitoring the peace talks between Russia and Ukraine, it is estimated that the decisions of talk may have major impacts on the global commodity market.