For the Quarter Ending December 2022
North America
During the fourth quarter of 2022, the market price of Liquid Sulphur dioxide plunged in the North American market affecting the market sentiments. Liquid Sulphur Dioxide values in the domestic market remained range bound in tandems with a mixed demand pattern across the country. Plunging demand for Liquid Sulphur Dioxide as a refrigerant at the onset of the winter season in the country considerably pushed down the prices of the product in September. Quotations of Liquid Sulphur Dioxide in the domestic market remained weak, with higher supply from several European and Asian countries due to container abundance and weakening freight charges. In addition to logistic disruption, the spillover effect of decrement in its international prices largely weighed to pull down its values in the USA.
Asia
The market prices of Liquid Sulphur dioxide plummeted in the Asian market during the last quarter of 2022, with feedstock Sulphuric Acid and Ammonium Sulphate prices falling, witnessing notable deterioration. The quotation of Liquid Sulphur dioxide by the traders was weak, which was used for reference in the Indian market. To relieve inventory pressure, the enterprise lowered its price due to poor shipments from domestic refineries. The manufacturing firms operated at weaker production rates, and the supply of goods was in normal circulation. The downstream fertilizer price has also reduced in the Asian market with more inventory which supports the downstream derivative industries in the local market.
Europe
In the Q4 of 2022, Liquid Sulphur dioxide prices fluctuated throughout the quarter in the European market. The upstream raw material Sulphur has fallen in the European market due to the decreased international crude oil prices. Demand in downstream industries plummeted, and the abundant supply of sulphuric acid due to the shutdown of specific industries in the European regional market caused the downstream prices to tumble down further. This has decreased the cost of Liquid Sulphuric Acid in the local market as well. The domestic market for Liquid Sulphur dioxide witnessed a downward trajectory in the last month of the quarter compared to the previous month. The freight prices had fallen in the European market with more inventory and supported the operating costs in the region as well. Weak demand from downstream Sulphuric Acid ultimately price reduced Liquid Sulphur dioxide.
For the Quarter Ending September 2022
North America
In the third quarter of 2022, the requirement for Liquid Sulphur Di Oxide is supported by a fluctuation in demand from downstream sectors. Projections for fertilizer demand losses are wide-ranging and, in several instances, overstated during the beginning of the quarter. The demand from downstream also remained underwhelming as consumption from the fertilizer market decreased towards the end of the quarter. Because of higher volumes of demand at the end of the quarter, higher congestion at some US ports caused global supply chain challenges in the region.
Asia
The prices of Liquid Sulphur Di Oxide decreased in the Asian market during the third quarter of 2022, with prices ranging at INR 42720/ton Ex-Ahmedabad. The upstream Sulphur price is reduced in the Asian market due to more inventory and supports the downstream derivative industries in the local market. Weak demand from downstream Sulphuric Acid ultimately reduced the prices of Liquid Sulphur dioxide. Demand in downstream industries and abundance in the supply of Sulphuric Acid in the Indian region was increasing. Discussions of Liquid Sulphur Dioxide in the domestic market remained weak, with abundant supply from several European and Asian countries due to an increase in importing ships and weakening freight charges.
Europe
The demand for Liquid Sulphur Di Oxide fell in the European market during the third quarter. Fertilizer demand from the regional market has affected the buying sentiments. Due to the war between Russia and Ukraine and the sanctions, the disruption in supply from Russia to European regions has impacted trade. Prices fell as feedstock (Crude Oil) in the regional market with falling consumption levels. The market's end-user purchasing pattern is waning, which lowers the cost of Liquid Sulphur dioxide even more. The price is pushed lower by increased supply and available inventories of the product.
For the quarter Ending June 2022
North America
In the second quarter of 2022, the upstream Sulphur market rose continuously since February 2022, which led to the price of downstream Sulphur dioxide throughout the second quarter. The upstream Sulphur has increased owing to the restriction on the imports of fertilizers from Russia amidst the rising food pricing index, forcing the domestic players to lean toward the suppliers from the Middle East. Liquid Sulphur dioxide is the intermediate product in the production of Sulphuric Acid. The strengthened value of Crude Oil is persistently soaring, and the demand outlook downstream is healthy, especially from the chemical intermediates and fertilizers industries.
Asia-Pacific
In the second quarter of 2022, the Liquid Sulphur-dioxide was observed to increase in the Asian region. As a result, the demand for downstream Sulphuric Acid rose in Liquid Sulphur dioxide prices in the region. The high buying trend from the end-users sectors put pressure on the product. Because of the demand from the fertilizer industries, the cost pressure from the upstream Sulphur market increased in the Indian market. The rise in demand for Liquid Sulphur Dioxide as a refrigerant at the onset of the summer season in the country considerably pushed up the product's prices in the quarter. The percentage of Liquid Sulphur dioxide was recorded at an inclination of 1.3% on an Ex-Ahmedabad basis during the quarter end.
Europe
In the European region, the price of Liquid Sulphuric Acid showed an upward trajectory throughout the second quarter of 2022. The upstream feedstock Sulphur price rose, which led to the downstream derivatives like Sulphur dioxide, and Sulphuric Acid. The cost pressure from the upstream Sulphur strengthened, which drove the prices of Sulphur dioxide. The increased buying sentiments from the food preservative industry also raised the product's price. Due to Russia's invasion of Ukraine, the supply chain disruption impacted the region. The high operational cost was also the reason increase in price. The insufficient supply of products in the market to meet the demand further raised the price of Liquid sulphuric Acid.
